A collection consisting of items from Prince's wardrobe and other memorabilia is set to be auctioned in New York next Friday.

Auction firm Julien's Auctions will offer a selection of the legendary singer's property including custom guitars and outfits he wore while performing, during an event titled "Property from the Life and Career of Prince" at the Hard Rock Cafe in New York City May 18.

The auction house set a world record for the highest price ever paid for a Prince guitar when it sold a blue teal "Cloud" guitar belonging to the singer for $700,000 in November.

Highlights of Friday's auction include a Schecter "White Cloud" electric guitar, estimated to sell for between $20,000 and $30,000 and a "Yellow Cloud" electric guitar, expected to sell for between $60,000 and $80,000.

Prince commissioned the "White Cloud" guitar in 2002 and styled it after the guitar that appeared in the 1984 film Purple Rain. It was designed by Dave Rusan and gifted to a Paisley Park employee.

Also included in the auction is a custom electric blue ensemble Prince wore on stage while performing at Paisley Park with Lenny Kravitz, which is estimated to sell for $40,000-$50,000.

In all the auction features more than 150 items, including clothing designed by Versace and Prada, record awards, posters, tour schedules, jewelry, backstage passes and set lists.

Bids on items can be placed over the phone, online or in person during the event at the Hard Rock Cafe.

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Prince was found dead at his Paisley Park estate in Minneapolis at age 57 in April 2016.