A draft of Bob Dylan’s seminal recording Like A Rolling Stone set a new auction record for a pop song manuscript when it sold for $1.7m (£1.04m) to an unnamed collector at Sotheby’s New York on June 24.

The draft comprised four pages written in pencil on Hotel Roger Smith Washington letterhead stationery and included four long stanzas and the repeated chorus of the song as recorded and released, with edits, corrections and marginal notes of song references, reminders and personal appointments.

The estimate was $1m-2m and the price was reached after a battle between two phone bidders.

The price breaks the previous record for a pop song manuscript, the $1m paid for John Lennon's A Day In The Life at Sotheby's New York on June 18, 2010.