The late pop star's yellow cloud electric guitar will be auctioned off next month through Heritage Auctions in Beverly Hills.
Prince designed the guitar himself, and his famous love symbol decorates the front and sides of the fingerboard, according to the auction description.
"One glimpse and you have no doubt that this is Prince's guitar," said Director of Music Memorabilia Garry Shrum, in a news release. "As celebrity stage-used instruments go, this piece is as unique as Beethoven's piano or John Coltrane's saxophone."
The bidding will start at $30,000, according to the release. However, it is expected to go for much more than that.
The current owner, Richard Lecce, originally bought it for about $30,000 through an auction last year when Prince was still alive, according to the CBC News.
"Unfortunately, as morbid as it is, when people pass, their items become more valuable," Lecce told the outlet. "I think something as valuable as this could be too risky to continue to have in my possession."
Lecce added that he has kept the guitar in "pristine condition."
The guitar comes with a custom hard case, six Prince guitar picks, and letter of authenticity from Prince's former guitar technician. (You can click here to view those items.)
The yellow cloud was Prince's main guitar for his videos, tours and album recordings between 1988-1994. He broke the neck of the guitar on a French TV show in 1994, and then had it repaired by his guitar technician, according to the letter. After that, he used it to record a few more albums until his signature symbol guitar was born.
If you wish that you could see the guitar for yourself in person – well you can, until September 5. Another yellow cloud guitar is now on display at the Smithsonian's National Museum of American in History in Washington D.C. The guitar was custom made by the Minneapolis-based firm Knut-Koupee, says the Smithsonian.
Other Prince items to be auctioned off include a 1970s demo tape before Prince was signed a contract. The tracklist is in Prince's handwriting and includes "Just as Long as We're Together," "My Love is Forever," and "Jelly Jam."
More memorabilia includes his: 1984 "Purple Rain" RIAA Platinum Record Sales Award commemorating 1 million sold album copies, an RIAA Gold Record Sales Award for "1999", and an RIAA Hologram Gold Video Sales Award for "Purple Rain".