A piece of Prince's legacy could be yours -- if the price is right.

A black-and-white blazer with leather sleeves worn by the legendary musician in his classic 1984 film, Purple Rain, will be put up for auction, ET has confirmed. The announcement comes just a week after Prince died at the age of 57.

"It's definitely the most important piece of screen-worn Prince clothing that's ever come up for auction," Profiles in History auction house's president, Joe Maddalena, told The Associated Press. "This is a signature piece of wardrobe worn from an iconic movie in his most famous role."

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"Prince memorabilia in general, it just really doesn't exist. It seems like he controlled it all," Maddalena explained, noting a makeup artist on the film was apparently gifted the jacket by Prince himself. "This is the first time ever for something like this, and it might be the only time."

The auction will take place June 29 and will also include memorabilia from other legends -- including a Swarovski crystal-studded glove worn by Michael Jackson during his "Dangerous" tour -- but the coat is expected to be the "star of the show."

So, how much will it cost to take the Purple Rain blazer home with you?

The asking price is $6,000 to $8,000, but in the wake of the "Little Red Corvette" singer's death, a rep for the auction tells ET, "Who knows how much it will go for."

EXCLUSIVE: Sheila E. on Prince: 'He Was in Pain All the Time, but He Was a Performer'

Prince was found dead in an elevator at his Paisley Park estate in Chanhassen, Minnesota, on April 21. Law enforcement sources confirmed to CBS News on Wednesday that prescription drugs were found in Prince's possession and at his home at the time of the music icon's death.

Find out more in the video below.