An anonymous bidder acquired the “King of Cowboys” Roy Rogers’ OM-45 Deluxe Martin guitar at Christie’s on April 3. One of the rarest and considered among many collectors the most coveted Martin guitar, the 1930 instrument was put up for auction by the Roy Rogers-Dale Evans Museum in Branson, Mo., and attracted a winning bid of $554,500.

Sold brand new for $225 in 1930, and originally purchased used for $30 at a California pawn shop in 1933 by a young and unknown musician by the name of Leonard Slye, this guitar was the very first OM-45 Deluxe model guitar Martin produced in 1930 (there were 15 in total). It is the prototype for one of Martin’s rarest, most beautiful and highly coveted models. Slye, years later, would go on to become cowboy legend Roy Rogers, never knowing the historical significance of the guitar. Over time, the Martin OM-45 Deluxe would become synonymous with the Rogers stage and film persona.

A two-time inductee into the Country Music Hall of Fame, Rogers died in 1998.