The collection, including more than 200 lots up for sale, was assembled by a French collector who initially hoped to open a museum celebrating the musician but later scrapped the plan, according to RR Auction of Boston, which is overseeing the sale.
The collector had reached out to individuals who worked closely with Prince to gather the items, believing that the trendsetting artist, who died in 2016, was not only a musical virtuoso but also a fashion icon, according to the auction house.
One of the highlights of the auction is a white ruffled shirt worn by Prince during his 1985 American Music Awards performance of the song 'Purple Rain.'
The auction house estimated its value at $15,000.
The auction traces Prince's evolution in music and fashion from his 'Purple Rain' era through to his death, according to Bobby Livingston of RR Auction.
«What this auction really does is it shows the influence and legacy of Prince with his fashion choices and how it relates today, when you see all these artists on tour, you know, different costumes, different outfits, reinventing themselves for each tour,» he said.
Also up for auction is the outfit Prince wore from 'Under the Cherry Moon,' a 1986 film starring Prince that also marked his debut as a director.