Indianapolis Colts owner Jim Irsay has purchased the Yellow Cloud electric guitar that Prince used in numerous concerts until the mid-1990s.
The team owner is a collector of musical instruments. He paid $137,500 for the guitar at an auction in Beverly Hills Saturday.
Heritage Auctions, which conducted the auction, says the solid body guitar was a favorite of the late musician from the late 1980s to the mid-1990s.
Prince died in April at his Paisley Park home in Minnesota of an accidental overdose of fentanyl.
Irsay also has instruments once owned by musicians Jerry Garcia of Grateful Dead, John Lennon and Ringo Star of The Beatles and singer-songwriter Bob Dylan.
The auction also featured other Prince-related memorabilia.