The maestro had been hospitalized last week after experiencing persistent shortness of breath and a rapid heart rate.
Played in the song's oft-played-on-MTV music video, the guitar had a starting bid of just over $20,000.
Each example of the ultra-limited edition model will be handmade in Fender's Custom Shop by luthier Greg Fessler.
Also owned by Leslie West at one point, the '84 model is thought to have been EVH's backup guitar for the '1984' and '5150' tours.
The Pink Floyd legend took up lap-steel duties for his interpretation of the chart-topping 1968 instrumental.
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