Man who bought Kurt Cobain’s Mustang for $4.5m says it “doesn’t make any sense” that the Nirvana frontman’s Martin sold for $6m

When it comes to music memorabilia sold under the hammer, a Kurt Cobain guitar can cost a pretty penny. The two most expensive guitars ever sold at auction belonged to the Nirvana frontman, with his legendary MTV Unplugged Martin D-18E acoustic selling for an eye-watering $6,010,000 in 2020.

However, not everyone would agree that Cobain’s acoustic is befitting of such a price tag. Guitar collector Jim Irsay, otherwise known as the owner of Cobain’s Smells Like Teen Spirit Fender Mustang, believes the $6 million price tag is unjustifiable.

Speaking to Rolling Stone, Irsay asserts that the price “doesn’t make any sense”. Irsay paid $4,550,000 for Cobain’s iconic left-handed Fender Mustang – just $1.5 million less than the “nonsensical” price of Cobain’s Martin D-18E.

While both prices feel ludicrous to the average consumer, Irsay seems to have some kind of rivalry with the MTV Unplugged acoustic owner, RØDE founder Peter Freedman; Irsay thinks his purchase was better bang for his buck. He chalks his reasoning up to the fact the acoustic only made an appearance during Nirvana’s MTV Unplugged – whereas the electric Mustang was a live staple.

“[It was] Kurt’s main guitar, and the electric guitar that survived the stage and survived many a jump – versus a one-night show – I felt [the electric guitar] was worth more,” he explains.

However, Freedman, stands by his purchase. “It was not a one-off guitar that Kurt bought and put away,” he states simply.
Admittedly, there is a certain degree of emotional value when it comes to iconic instruments. Irsay does add that Freedman must feel an emotional connection to his purchase that goes beyond money. “It was not worth that, but it was to him,” he says.

Auction house Julien’s Auctions notes that emotional value can skyrocket the value of even the most battered instrument. “There’s definitely a recognition that these pieces are as important to a certain collecting community as a Picasso is to other collectors – things that are extraordinary pieces of art,” says David Goodman, CEO of Julien’s Auctions, tells Rolling Stone. “These are things you want to live with, talk about and love, because you’re so emotionally connected to them.”

Of course, there are certain people who may have an even higher degree of emotional value invested in auctioned collectibles and memorabilia. The $6 million Cobain acoustic was once in the custody of Cobain’s daughter, Frances Bean Cobain, but her ex-husband received it as part of her divorce settlement.