A guitar owned by Prince has sold for £100,545 at an auction in America.

The guitar was used by Prince in numerous concerts until the mid-1990s.

The instrument, a Yellow Cloud electric guitar, was purchased by Indianapolis Colts owner Jim Irsay.

PrinceA guitar used by the musician has gone on sale in the US (PA)

The NFL football team owner and collector of musical instruments paid £100,545 for the guitar at an auction in Beverly Hills.

Heritage Auctions, which conducted the auction, said the solid body guitar was a favourite of the late musician from the late 1980s to the mid-1990s.

Jim IrsayJim Irsay (AJ Mast/AP)

Prince died on April 21 at his Paisley Park home in Minnesota after an accidental overdose of fentanyl.

Jim is a keen collector and reportedly also has instruments once owned by musicians Jerry Garcia of Grateful Dead, John Lennon and Ringo Starr of The Beatles, as well as singer-songwriter Bob Dylan.

The auction also featured other Prince-related memorabilia.