Iconic Prince Guitar, Once Considered Lost, Sold For Over $500,000 At Auction

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(CNN) -- Prince's "Blue Angel" Cloud 2 guitar that the late singer played during some of his most iconic moments was sold at auction for $563,500.

The 1984 electric guitar was used by the famous singer on his tours for "Purple Rain" and "Diamonds and Pearls." Prince also played it during Saturday Night Live's "15th Anniversary Special," Julien's Auctions confirmed in a news release.

"The guitar is considered one of the most historically important guitars played by Prince that has ever come up for auction," Julien's Auctions said.

The instrument was auctioned Friday at the auction house's Music Icons event.

The custom-made guitar was considered lost until the auction house was contacted by John Woodland, who performs conservation work on Prince's guitars. After closer examination, it was confirmed that it was Prince's beloved guitar Blue Angel, according to the news release.

This isn't the first Cloud guitar of Prince's to be auctioned. Julien's Auctions set a world record with the price of his teal Cloud guitar in November 2017, which sold for $700,000 and Prince's custom made yellow Cloud guitar which sold for $225,000 in May 2018.