The piano was originally picked up by the touring crew of the band 'Earth, Wind & Fire' around 1978, and was delivered to the home in Los Angeles where Prince was living at the time.
It was a gift specifically for Prince, and was his favourite piano to play because he loved the distinctive ring-like sound it made when he played it, according to the US-based RR Auction.
It was in Los Angeles that Prince most frequently played this piano.
The piano was painted pink when the consignor moved to Miami in the early 1990s, around the same time that Prince opened the 'Glam Slam' club. The piano was subsequently painted purple to match new decor.
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Though best known as a singer, songwriter, and guitarist, Prince was also an accomplished pianist - it was the first instrument he learned to play, taking after his father who was a piano player in a jazz band.
The bidding for the piano will close on February 15.
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