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

Prince plays his Yellow Cloud electric guitar at a concert.
(Heritage Auctions / Associated Press)
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Indianapolis Colts owner Jim Irsay is known to have quite a collection of musical instruments. His latest addition is no exception.

Irsay spent $137,500 to purchase the Yellow Cloud electric guitar used by the late rock star Prince in numerous concerts until the mid-1990s, according to the Associated Press. The guitar was purchased at an auction Saturday night in Beverly Hills.

The event conducted by Heritage Auctions also included other items of Prince-related memorabilia.

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Although the price Irsay paid for the guitar may seem steep, it’s nowhere near what he’s spent on other musical instruments. In December, he spent nearly $2 million for a Ringo Starr drum set, and he owns guitars from Paul McCartney, John Lennon and George Harrison.

Irsay also has purchased musical instruments once owned by Jerry Garcia of the Grateful Dead and Bob Dylan.

Connect with Eduardo Gonzalez on Twitter: @edmgonzalez

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