Kurt Cobain’s iconic guitar used in the “Smells Like Teen Spirit” music video just sold for a whopping $4.5 million.

After winning the instrument at auction, Indianapolis Colts owner Jim Irsay is the proud new owner. The left-handed 1969 Fender Mustang in Competition Lake Placid Blue finish was estimated to sell for between $600,000 and $800,000, according to Julien’s Auctions. The final price wasn’t an issue for Irsay, who is reportedly worth $3.5 billion.

According to him, the Cobain family donated a portion of the guitar’s proceeds to the billionaire’s mental health initiative, Kicking the Stigma.

Filed under: Kurt Cobain