Kurt Cobain's Fender Mustang guitar made headlines over the past few weeks after an auction house announced that fans could bid for the iconic instrument. Today, it seems like someone has their eyes over the memorabilia, and he's willing to pay millions of dollars.

According to Sportsnaut, Indianapolis Colts owner Jim Irsay placed a $2 million bid on the prized possession featured in the music video of Nirvana's "Smells Like Teen Spirit."

Despite being a sports enthusiast and entrepreneur, the millionaire's desire to own the instrument makes sense as he has the "greatest" guitar collection on earth, as reported by guitar.com.

Suppose the Colts owner becomes successful in obtaining the piece. In that case, Cobain's guitar will be added to his million-dollar collection that includes Gilmour's Black Strat ($3.9 million), Bob Dylan's Stratocaster ($965,000), Jerry Garcia's Tiger ($957,000), George Harrison's Gibson ($567,000) and many more.

In addition to his guitar collection, Irsay has a handful of pieces from different eras in time, not just music-related. This includes Abraham Lincoln's walking cane, the original Apple II manual signed by Steve Jobs, Jack Kerouac's typewritten manuscript for "On The Road," and more.

In early reports, Julien's Auctions previously announced its "Music Icons" auction, which will take place at the Hard Rock Cafe in New York City from May 20 to 22.

Other items will also be available for purchase online.

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The left-handed Competition Lake placid blue finish instrument's initial bid was between $600,000 and $800,000.

The auction will be for a good cause as proceeds will go to the "Kicking the Stigma" initiative, which raises awareness about mental health disorders.

Cobain explained in his final interview with Guitar World that he's left-handed, and it's hard to find a high-quality left-handed guitar for a reasonable price.

He told the outlet that his Fender Mustang was his favorite out of all the guitars in the world.

Following his untimely passing in 1994, the instrument was displayed at the MoPop Museum of Pop Culture in Seattle.

If the bidder wins the auction, they will also receive an exclusive NFT with a narration by the singer's guitar tech, Earnie Bailey.

The non-fungible token will feature a 360-degree model of the Fender Mustang. It will only be limited to one edition, meaning no other people could own the NFT.

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