Indianapolis Colts owner Jim Irsay buys Prince guitar for $137,500

Indianapolis Colts owner Jim Irsay has purchased a guitar that Prince used in numerous concerts for $137,500.

Irsay made the purchase on the "Yellow Cloud" electric guitar at an auction in Beverly Hills on Saturday night, the Associated Press reported.

Heritage Auctions said the Prince guitar was a favorite of the late musician from the late 1980s to the mid-1990s.

Prince died on April 21 at his Paisley Park home in Minnesota of an accidental overdose of the opioid fentanyl.

Irsay, a collector of musical instruments, spent about $2 million in December on a Ringo Starr drum set, allowing him to complete a Beatles collection that also included guitars previously owned by Paul McCartney, John Lennon and George Harrison.