This Fender Stratocaster which was set alight as a publicity stunt by Jimi Hendrix during a concert at London's Astoria in March 1967 has been auctioned off for £280,000 ($595,000) to a collector in the US. The successful bidder Daniel Boucher is quoted as saying "I thought I'd have to pay a little bit more for it, actually. I am going to play it, I hope some of it rubs off on me."
So, it didn't make the speculated $1million.
Check out this footage of a BBC reporter playing the guitar.