Today, Heritage Auctions announced that it’d be auctioning off one of Tom Petty‘s guitars as well as one of the late rock legend’s top hats. Slated for auction on July 21st, Tom Petty’s 1965 Gibson SG electric guitar and signature top hat are predicted to sell for $300,000 together.The 1965 Gibson SG was played by Tom Petty while he and the Heartbreakers were on tour with Bob Dylan during the True Confessions tour in the late 80s. The guitar is signed by the late guitarist and also includes a signed black-and-white photo of Tom Petty playing with Bob Dylan during a performance—Tom Petty wrote a note on the photo confirming this guitar was played on tour with Dylan in 1987.The signature hat is a custom-made brown felt hat from Baron California Hats. Notably, Petty wore the hat on stage as well as in two music videos—”Handle With Care” and “End Of The Line”—with the Traveling Wilburys, the famed supergroup featuring Petty, Bob Dylan, Geroge Harrison, Jeff Lynne, and Roy Orbison. Petty also appeared on MTV in the hat during an interview on Orbison’s death in 1989.Norman Harris, Petty’s friend and owner of a rare guitar shop, noted this in a statement on the auction’s website.In regards to the Gibson SG Standard (Red) Bob Dylan Tour Guitar, Tom was after a guitar that was in my first book, which was a Rickenbacker Double Bound 360 12 String with F-Holes which is considered a Rose Morris guitar. Rose Morris was the distributor in Great Britain for all Rickenbacker guitars. The guitar appeared in my first book, Norman’s Rare Guitars – 30 Years of Collecting Guitars. Tom did the forward to this book. When Tom saw the Rickenbacker in the book, he had asked me to sell him the guitar. I was not ready to sell it immediately, but promised Tom that he would get the guitar. Tom would call every few months asking me to sell him the guitar. Finally I told Tom that I would trade him for some of his stage played memorabilia. I had previously sold Tom the SG Standard and requested that that would be part of the trade. I knew that he played it on the Bob Dylan tour and thought this would be a good guitar to have back. The Rickenbacker was extremely rare and in near mint condition. When Tom received the Rickenbacker, it became his favorite guitar. He used the guitar when he played at the Super Bowl. The guitar also had an original receipt from Hessey’s Music in Liverpool. This is where the Beatles bought a lot of their original equipment. Because Tom was such a fan of the Beatles, this guitar really meant a lot to him. On numerous occasions, Tom thanked me for the Rickenbacker and told me this was his number one favorite guitar.As noted on the online auction, the opening bid for Tom Petty’s 1965 Gibson SG electric guitar is at $150,000. You can check out the auction online for yourself here.