The money from the sale of the violin, which was once owned by the 19th-century virtuoso Joseph Joachim, will benefit a scholarship program at the New England Conservatory.

A Stradivarius violin has sold for $11.25 million (£9 million), with the auction house claiming it is one of the most expensive musical instruments ever sold.

A 1714 violin made by the venerated violin maker Antonio Stradivari fetched $11.3 million dollars at auction at Sotheby’s New York on Friday. The instrument, called the “Joachim-Ma” after two of its previous owners, was previously gifted to New England Conservatory with the stipulation that it could be sold to benefit student scholarships.