The Indianapolis Star reports the piano, made in the 1870s, was auctioned on the site GottaHaveRockandRoll.com . The site estimated it would sell for between $800,000 and $1.2 million. As of Saturday afternoon, the final price tag had not yet been announced.
Irsay calls ownership of the piano a "responsibility I take seriously, with future generations in mind." The Star says Irsay previously bought guitars once owned by music legends Jerry Garcia, Prince and Bob Dylan.
Information from: The Indianapolis Star, http://www.indystar.com