One of Kurt Cobain‘s most famed guitars is officially in the hands of a new owner, but it wasn’t acquired without a king’s ransom — the instrument ended up going for 7 figures.

You’ll definitely recognize this one … it’s the blue 1969 Fender Mustang featured in Nirvana‘s “Smells Like Teen Spirit” music video, which was also used during recording sessions for the band’s “Nevermind” and “In Utero” albums — so the high price tag of $4.5 million should be no surprise.

Kurt’s old guitar was auctioned off Sunday to the Jim Irsay Collection — yes, the Indianapolis Colts owner — and ended up going for way higher than its estimated bid of $600k … which is where Julien’s Auctions had it pegged at the outset.

Considering this was one of Kurt’s most prized possessions — not to mention it’s a left-handed guitar — the exponential jump, perhaps, really isn’t all that shocking.

What is sorta eye-opening is how many bidders there were — word is, it was a war of sorts that Irsay walked away from victorious. The guy’s worth an estimated $3.5 billion — so he definitely had the means to snap it up.

As for where the dough for this guitar is going … naturally, a portion of it is landing in the pockets of Kurt’s estate, but another portion is being donated to charity — namely, in support of Mental Health Awareness Month (May) and the Kicking the Stigma org.