Tom Petty will soon be reunited with his 1967 Rickenbacker and other guitars that were stolen from the rocker and his band while rehearsing at the Soundstage in Culver City.
In a press conference this afternoon, Culver City police announced the vintage guitars have been recovered and a suspect has been apprehended.
Police Chief Don Pedersen said the suspect sold one of the expensively rare guitars at a Hollywood pawn shop for a paltry $250. The Chief estimated the worth of the stolen guitars as $100,000 in total.
But apparently the fencing was the hardest part.
One person was arrested in connection with the theft, police Lt. Ron Iizuka told reporters.
Petty and the Heartbreakers published photos of the stolen instruments on their website last week when the guitars were lifted and feared to be released into the great wide open. The band offered a $7,500 no-questions-asked reward and even created an email address (StolenGuitars@TomPetty.com) in hopes of being hooked back up with their musical tools.
The group was rehearsing in Culver City, where they have been rehearsing for a US tour that will start tomorrow in Broomfield, Colorado, outside of Denver.
The five missing guitars were a 1967 12-string Rickenbacker 360 and 1965 Gibson SG TV Junior belonging to Petty, a custom Dusenberg belonging to Mike Campbell, a Fender Broadcaster belonging to Ron Blair, and a 1967 Epiphone Sheridan belonging to Scott Thurston.