A jacket Prince wore in his 1984 movie Purple Rain has sold for $96,000 at Profiles in History.

The lot had originally been valued at $8,000, a figure that was arrived at before he died earlier this year.

The value of Prince's memorabilia has grown since his death

By the time bidding closed it had rocketed up 1,100% in value.

Prince gave the jacket to a makeup artist who'd worked on the film.

Joe Maddalena of Profiles in History told the Guardian: "It just happened to be one of those coincidences that unfortunately he passed away.

"Probably the signature thing he is known for is Purple Rain. It's what made his career. It's probably what he'll be remembered for always.

"To have an important piece like this is pretty astonishing and an amazing opportunity."

A shirt he also wore in the film was another highlight, achieving an identical sum of $96,000, while boots from his 1988 Lovesexy tour realised $17,920.  

Prince memorabilia is rare, as he was notoriously publicity shy. Before his death demand was low, but has grown exponentially since then.

With that in mind, you can expect to see a significant advance in his price point over the coming months.

His iconic Yellow Cloud guitar realised an unprecedented $137,000 earlier this month.

Love music? You can check out our wide range of music memorabilia for sale here.

Please sign up to our free newsletter to receive exciting news about art and photography auctions.