The coat that legendary guitarist Jimi Hendrix was wearing the night he died is headed to the auction block. The custom-made grey coat is expected to fetch over $41,000 US dollars when bidding opens later this week.

According to the Daily Mirror, since the jacket was actually worn by the late legend himself on the very day he died, there is a level of pricelessness to it. It's a unique item in rock 'n' roll history and sure to be prized by any fashion conscious bidder, albeit one with a lot of expendable income.

Hendrix left the coat at a friend's home just hours before he died in September 1970. Ted Owen, a pop memorabilia expert, obtained the jacket from the unidentified friend in the late '90s. Owen reports the previous owner simply told him that "Jimi left the coat and, of course, never came back for it."

The jacket will be auctioned off on Aug. 24 via online auction house The Fame Bureau. We're left to wonder what the winning bidder will do with the coat. Wear it? Preserve it? Donate it to the Rock and Roll Hall of Fame or Hard Rock Cafe? There are so many possibilities.