Julien's Auctions has said that one of Prince's custom "Cloud" guitars has sold for $700,000, following a lengthy bidding war.
The auction house claims that it is the highest price that has ever been paid for one of Prince's guitars.
According to the Associated Press, the auction house initially anticipated that the guitar would only sell for between $60,000 and $80,000. The buyer of the guitar was not identified.
The guitar—which Prince donated in 1994 to benefit Los Angeles earthquake relief—came with a letter of authenticity from luthier Andy Beech, who made the guitar for Prince.
Prince died last April at the age of 57 after a fentanyl overdose.