Nearly three decades after the death of the legendary Irish guitarist Rory Gallagher, the artist's dazzling instrument collection has been sold at auction today in London.

Among the collection was Gallagher's iconic 1961 Fender Stratocaster, which was sold for £700,000, a record price for any instrument of original Irish ownership. The identity of the purchaser hasn't been revealed yet. The guitar served as the Cork songsmith's instrument of choice for four decades, and was played continuously both onstage and in the studio. This resulted in the guitar's distinctive worn appearance, making it - as Bonhams described it - "one of the most instantly recognisable guitars in the world".

Rory Gallagher. Credit: Govert de Roos

Rory Gallagher bought the guitar in 1963 for £100, from Crowley's Music Centre in Cork, having saved up for it while still in school. The Strat was originally second-hand, having been previously owned by Jim Conlon, the guitarist with The Royal Showband. Some have even speculated that this sunburst guitar was the very first Strat in Ireland, after a post-war embargo on the import of US-made instruments was lifted in 1959.

Rory Gallagher's 1961 Fender Stratocaster. Credit: Bonhams

In 1966, the guitar was stolen, along with a Fender Telecaster that Gallagher borrowed from a friend. He contacted the local TV programme, RTÉ's Garda Patrol, imploring viewers to help in locating the guitars. After a few days, the guitars were recovered from a ditch. Once he was reunited with his guitar, Gallagher rarely let it out of his sight, calling it his "lucky charm".

Last weekend, Tánaiste Micheál Martin reiterated his belief that the guitar was a significant cultural artefact, hinting to the Irish Times that one of the State’s cultural institutions might buy it.

“There are processes and approaches that have to be pursued here and it’s not all done by megaphone either,” he told the Irish Times.

There is also speculation that the National Museum of Ireland would potentially make a bid for the guitar, as well as Sheena Crowley, the daughter of the late Mick Crowley, who also runs Crowley's Music Centre.

Rory Gallagher's 1961 Fender Stratocaster. Credit: Bonhams

Other big purchases at the auction today included Gallagher's 1968 Martin D-35 Flat Top acoustic guitar for £102,000; his 1930 National Triolian Resonator guitar for £95,650; and his 1959 Fender Esquire electric guitar for £95,650. The collection also included a wide array of instruments, pedals, amps and flight cases, with several items purchased for much more than their estimated values.