Grateful Dead T-shirt auctioned for a record-breaking $17,640

Oct. 19 (UPI) -- A Grateful Dead T-shirt from the band's original merchandise was auctioned for a record-breaking price.

The 1967 shirt, sold as part of Sotheby's "From the Vault: Property from the Grateful Dead and Friends," sold for $17,640, setting a new world record for the most money spent on a vintage rock shirt.

The previous record was set in 2011, when a vintage Led Zepplin shirt was sold for $10,000 on eBay.

The Grateful Dead shirt was one of the band's first pieces of official merchandise and was designed by Allan "Gut" Terk, a Hells Angel and graphic artist who was a prominent figure in California's counterculture movement in the 1960s.

The winning bidder, Bo Bushnell, operates the Outlaw Archive account on Instagram, which is dedicated to 1960s motorcycle culture.

Bushnell wrote on the page that he purchased the shirt "to keep the memory of #GutTerk alive and to keep his history together under one roof."