It has been more than a year since the passing of Prince. However, this has not stopped adoring fans from remembering the singer, performer, and prolific song writer. Recently, one of Prince's many guitars was up for bid in an auction, and was reportedly sold for quite a hefty price.

In a report by CBC News, Prince's teal colored guitar named "Cloud" was sold for a whopping $700,000 at Julien's Auctions in California on Saturday, Nov. 4. The initial estimated price for the guitar was pegged to be around $60,000 to $80,000, but the bidding war effectively shot up the amount by almost nine times the price. The Cloud was just among the multiple items that was up for sale, but decisively beat the others in terms of the final price tag.

According to USA Today, the auction had put up a number of iconic items, such as Michael Jackson's black and white rhinestone glove, which sold for $102,000. Given Jackson's popularity, the item's price tag still paled in comparison to that of Prince's guitar. Another item of the King of Pop was the red snakeskin jacket which is similar to the one he wore in the music video for the hit song "Beat It," which sold for $118,000.

However, it is also important to note that the product will not be worth that much without a certificate of authenticity. According to Hickory Record, the certificate of authenticity was provided by none other than Andy Beech, the man responsible for creating the guitar along with at least 30 more for the deceased icon. The Cloud guitar was used by Prince during the mid-80s, and even during the early 90s.

Sadly, there is no information about the buyer of the Cloud guitar, as reported by The Daily Mail. During 2016, another auction had occurred wherein the yellow colored version of the Cloud sold for $137,500.