One of Prince’s iconic Blue Cloud guitars just sold for a record $700,000, almost 10 times its $80,000 estimate.

The lot appeared in a major sale of music memorabilia at Julien’s Auctions over the weekend.

The Blue Cloud is an iconic piece of pop history

The star played it on stage during the late 80s and early 90s, before consigning it in a 1994 charity auction for Los Angeles Earthquake Relief.

Since Prince died last year, demand for his memorabilia has skyrocketed at a rate we’ve only seen for a select few figures in the memorabilia market. This latest sale indicates the effect is accelerating and investors are moving in.   

The previous record for one of Prince’s guitars was $137,500, set last year for a Yellow Cloud.  

The auction hosted a vast selection of items from some of the biggest names in pop history.

A handmade Nehru shirt Jimi Hendrix wore onstage and in the studio for much of 1967 sold for $106,250 – an increase of 431.2% on estimate.

Hendrix was very attached to this shirt 

That makes it the most valuable piece of Hendrix’s wardrobe ever sold.  

Kurt Cobain’s Blockbuster card also performed well, realising $2,187 against a $600 estimate.

It’s hard to think of an item that encapsulates the 1990s quite so perfectly.

Buyers clearly felt the same way.

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