Prince guitar fetches record $700K in auction

A guitar that Prince used in the late 1980s and into the 1990s sold at auction for $700,000, an auction house announced.

The amount is the highest ever paid for a Prince guitar, according to Julien's Live auction house, and went for many times more than the anticipated $60,000 to $80,000. As is common in such high-figure auctions, the buyer was not identified.

The teal blue Cloud guitar was donated by Prince to an auction in 1994 to benefit Los Angeles earthquake relief, the auction house said in its listing. He used it onstage, in the studio and for publicity photos, Los Angeles-based Julien's Live added. A label affixed to the back of the guitar reads "Property of PRN Music Corp" with a phone number and "PM 16164."

The guitar was accompanied by a letter of authenticity from Cloud guitar luthier Andy Beech stating that he made it for Prince. Beech made 31 guitars for Prince.

Prince's distinctive "Yellow Cloud" guitar, used by the late icon throughout the 1990s, sold at auction in 2016 for $137,500. The bright yellow, custom-built guitar was purchased by Indianapolis Colts owner and avid music memorabilia collector Jim Irsay.

Prince died at his Paisley Park compound in Chanhassen from an accidental drug overdose on April 21, 2016.

Other items from late rock legends also sold for substantial amounts on Saturday in what Julien's Live promoted as "Icons and Idols: Rock 'N' Roll." A Michael Jackson black and white rhinestone glove sold for $102,000.

An MTV Video Music Awards Moonman statue won by Kurt Cobain went for $62,500; a Nehru shirt worn by Jimmy Hendrix sold for $106,000, and handwritten lyrics to David Bowie's "Starman" were sold for $81,000.

The Associated Press contributed to this report.