JIMI HENDRIX'

JIMI HENDRIX' 1966 Red Fender Mustang Fetches $400,000 For Hurricane Katrina Benefit

According to Reuters, an auction benefiting the musicians who were affected by Hurricane Katrina raised $2,436,900 yesterday (Saturday, April 21st). The auction, held by Julien's Auctions at New York's Hard Rock Cafe, was orchestrated for Music Rising, a charity whose proceeds go to those musicians who lost everything in Hurricane Katrina. The charity was created by U2's The Edge and a number of other musicians after the devastating hurricane that destroyed portions of the Gulf Coast.

Over 200 items were sold at the auction including the largest selection of U2 memorabilia ever made available to collectors, according to organizers. Items that went on the block included JIMI HENDRIX' 1966 Red Fender Mustang guitar. Hendrix's guitar went for $400,000.

Read more about the auction here.