Colts owner Jim Irsay buys Prince's 'Yellow Cloud' guitar for $137,500

BEVERLY HILLS, Calif. -- Indianapolis Colts owner Jim Irsay has purchased the "Yellow Cloud" electric guitar that Prince used in numerous concerts until the mid-1990s.

Irsay, a collector of musical instruments, paid $137,500 for the guitar at an auction in Beverly Hills on Saturday.

Heritage Auctions, which conducted the auction, says the solid-body 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 fentanyl.

Irsay also has instruments once owned by musicians Jerry Garcia of Grateful Dead, John Lennon and Ringo Starr of The Beatles and singer-songwriter Bob Dylan.

The auction also featured other Prince-related memorabilia.