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Colts Owner Jim Irsay

Colts owner Jim Irsay just added another sweet piece of history to his impressive collection ... a super famous John Lennon piano!!!

We're told Jim paid a whopping $718,750 for the piano Lennon used to write The Beatles' eighth studio album, "Sgt. Pepper's Lonely Hearts Club Band." As we first reported ... the famous piano went up for auction earlier this month ... with Irsay rising above the rest.

The piano is one of several Lennon stored and used at his famous Kenwood house on St.