Apparently, an instrument that once upon a time transported millions of listeners into musical ecstasy warrants a six-figure price tag regardless of its condition. In this case, it's a smashed Fender Mustang that belonged to Nirvana's late frontman, Kurt Cobain. Cobain destroyed the guitar onstage at a New Jersey gig during Nirvana's first US Tour and then swapped it for a functional one belonging to Sluggo, a guitarist and friend. Clearly, Sluggo received the better end of the deal because after holding onto the “damaged goods” for several years, he sold the guitar to a private collector for a whopping $100,000.

According to Jacob McMurry, senior curator of Seattle’s Experience Music Project where the item has been displayed, the purchase was a wise investment, “There’s not a huge amount of broken Nirvana guitars out there.” No preconditions were issued with the transaction but Sluggo hopes the collector will lend the guitar to Seattle for an upcoming Cobain exhibit in 2010. One thing is certain though, Sluggo’s Christmas budget was unaffected by the current economic funk.

Smashed Kurt Cobain guitar sold for $100,000 [Yahoo News]