The 1957 Gretsch Chet Atkins 6120 electric guitar was given to a competition winner back in 1974, after Led Zeppelin guitarist Page posed with it on the front cover of the New Musical Express (NME).
It was later purchased by a musician from the competition winner, whose family decided to sell it after his death earlier this year.
The axe was sold by Wiltshire-based auctioneers Gardiner Houlgate – who had estimated that the guitar would only fetch up to half what it sold for.
The Gretsch guitar was given away by NME as part of a competition, with Page posing on the magazine’s cover in cricket whites holding the guitar like a bat.
He told the music mag he had bought the guitar in the US city of Nashville for £200 back in 1972.
Competition entrants had to match six iconic guitars with their famous owners.
The winner, Charles Reid of Hornsey, north London, said at the time: “Page must be mental giving away such a terrific guitar as this.
“It’s the kind of instrument that every guitar player dreams of owning but can never really afford.”
Mr Reid kept the guitar until September 1990, when he sold it to Phil O’Donoghue of Chessington, Surrey, for £2,000.
O’Donoghue, a guitarist with the 1970s rock band Wild Angels, kept the guitar until his death earlier this year.
The hallowed instrument was expected to fetch between £30,000 and £50,000 – but sold at auction for an incredible £100,000.
Luke Hobbs, auctioneer from Gardiner Houlgate, said prior to the sale: “It’s no exaggeration to say that Jimmy Page is a legendary guitarist and rock star.
“Very few of his guitars come up for auction and, when they do, they attract huge interest from collectors, investors and fans of Led Zeppelin.
“What’s so wonderful about this guitar is that we have the copies of the New Musical Express showing the competition and even a photo of Page giving the guitar to the winner, Charles Reid.”
The guitar was sold with original copies of the NME issue and a photo of Page handing the guitar to Mr Reid.
