The instrument is expected to bring in up to $800,000, Reuters reported.
“This is one of the most iconic guitars ever to come to the auction block, this is the blue Mustang Fender guitar, one of Kurt Cobain’s favorite guitars of all time,” Martin Nolan, the executive director of Julien’s Auctions, told Reuters.
The 1969 blue Fender comes with the original case and guitar strap.
Part of the proceeds from the sale of the guitar, which had been in the possession of Cobain’s family since his 1994 death, are going to the mental health charity “Kicking The Stigma,” the auction house said in a news release.
It is part of Julien’s “Music Icons” auction that is scheduled to take place in New York and online from May 20 to 22.
An artwork created by Cobain showing Michael Jackson and a 1965 Dodge Dart owned by the Nirvana lead singer are also part of the auction.
Through the years Kurt Cobain was mug shot arrested by Aberdeen, Washington police in May 1986. (Photo courtesy Bureau of Prisons/Getty Images) (Donaldson Collection/Getty Images)
Through the years Singer and guitarist with Nirvana, Kurt Cobain performs live on stage in Frankfurt, Germany on November 12 1991 (Photo by Paul Bergen/Redferns) (Paul Bergen/Redferns)
Through the years Kurt Cobain of Nirvana, portrait during an interview in Roppongi Prince Hotel, Tokyo, Japan, 18th February 1992. (Photo by Koh Hasebe/Shinko Music/Getty Images) (Koh Hasebe/Shinko Music/Getty Images)
Through the years Photo of NIRVANA, Kurt Cobain, posed, looking to camera, recording in Hilversum Studios (Photo by Michel Linssen/Redferns) (Michel Linssen/Redferns)
Through the years Rock singer Kurt Cobain (1967 - 1994) performs on stage with Nirvana at the MTV Video Music Awards, September 10, 1992. (Photo by Frank Micelotta/Getty Images) (Frank Micelotta Archive/Getty Images)
Through the years Seattle grunge band Nirvana at the MTV Video Music Awards with their 'moonman' for best alternative video 'In Bloom'. Left to right: Kris Novoselik, Dave Grohl, Kurt Cobain and the video's director Kevin Kerslake. (Photo by Fotos International/Getty Images) (Fotos International/Getty Images)
Through the years Kurt Cobain of Nirvana (Photo by Jeff Kravitz/FilmMagic) (Jeff Kravitz/FilmMagic)
Through the years Dave Grohl, Kurt Cobain and Krist Novoselic of Nirvana (Photo by Kevin Mazur Archive/WireImage) (Kevin.Mazur/WireImage)
Through the years Kurt Cobain, Courtney Love and baby Frances Bean attending the 1993 MTV Music Video Awards in Los Angeles 09/02/93 (Photo by Vinnie Zuffante/Getty Images) (Vinnie Zuffante/Getty Images)
Through the years Kurt Cobain of Nirvana during the taping of MTV Unplugged at Sony Studios in New York City, 11/18/93. Photo by Frank Micelotta. (Frank Micelotta Archive/Getty Images)
Through the years Kurt Cobain of Nirvana during the taping of MTV Unplugged at Sony Studios in New York City, 11/18/93. Photo by Frank Micelotta. (Frank Micelotta Archive/Getty Images)