Kurt Cobain's iconic 1969 Fender Mustang guitar sold for a cool $4.5 million on May 22nd. The famed guitar was but one of the many instruments that went under the hammer at Julien's Auctions' three-day, "Music Icons" sale. The Cobain guitar -- used most famously in Nirvana's groundbreaking 1991 "Smells Like Teen Spirit" video -- was purchased by Jim Irsay, owner and CEO of the NFL's Indianapolis Colts. The guitar, which was originally listed with an estimate for only $600,000, caused a bidding war, which led to the exorbitant final price.
Blabbermouth reported, "In honor of Mental Health Awareness Month, the Cobain family is donating a portion of the proceeds of the legendary guitar and select Kurt Cobain items to Kicking The Stigma, the Irsays' initiative to raise awareness about mental health disorders and remove the stigma associated with these illnesses. Through grants, as well as personal donations by the Irsay family, more than $16 million has been committed to local and national organizations to expand treatment and research and raise awareness in Indiana and beyond."
Jim Isray said in a statement: "I am thrilled to preserve and protect another piece of American culture that changed the way we looked at world. The fact that a portion of the proceeds will go toward our effort to kick the stigma surrounding mental health makes this acquisition even more special to me."
(from pusleofradio.com)