Someone paid $700,000 for this Prince 'Cloud' guitar

It started a bidding war at auction this weekend.

It's not unusual to see Prince memorabilia go for thousands of dollars at auction, but there was a record-breaking sale this weekend.

A teal "Cloud" guitar that Prince used on stage went up for sale on Julien's Auctions on Saturday morning. 

A bidding war broke out, and the price jacked up to $700,000 – the most anyone has ever paid for one of Prince's guitars, according to the Associated Press

That's also a lot more than the $60,000 to $80,000 the auction house expected it to go for.

Prince used the guitar on stage, in the studio, and for publicity photoshoots in the late 80s and early 90s, the listing says. He donated it to an auction in 1994 to benefit Los Angeles Earthquake Relief. 

It came with a letter of authenticity from Cloud guitar luthier Andy Beech stating that he made the guitar for Prince, the auction house says.

The guitar was one of several items up for sale by rock legends as part of the "Icons and Idols: Rock "N" Roll" online auction.

The Associated Press says a Michael Jackson black and white rhinestone glove sold for $102,000 while a red snakeskin jacket in the mold of the one he wore in his "Beat It" video sold for $118,000. 

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