1974 Martin acoustic guitar used by Eric Clapton to compose "Wonderful Tonight" to be auctioned at Bonhams, estimated value up to $500,000.

Eric Clapton's 1974 Martin acoustic guitar, reportedly used to compose his hit song "Wonderful Tonight," is set to be auctioned off with an estimated value of up to $500,000. The guitar has distinguishing marks, including cigarette burns on the headstock from the cigarettes Clapton used to place under the strings. Clapton acquired the instrument in the mid-1970s and used it to compose songs, including his 1977 hit about model Pattie Boyd. The guitar will be on display at Bonhams auction house from June 9 to 11.