The University of Nevada, Reno will sell a Stradivarius violin worth millions to help pay for its new arts building.

The violin was a gift from Edwin L. Wiegand to UNR’s music department in 1974.

Wiegand, an electrical engineer who pioneered the use of electricity for heating has become a well-known name on campus. The foundation, in his name, donated $8 million to one of UNR’s most recent construction projects, the E. L. Wiegand Fitness Center.

The violin was made by Antonio Stradivari in Italy. Considered to be the best in quality, estimates are there are about 650 Stradivarius violins in existence. In 2011, a similar violin sold at auction for almost $16 million.

The violin was an unrestricted gift from Wiegand, who died in 1980. Over the years it has been played by graduate students studying the violin.

UNR Spokeswoman Kerri Garcia said the violin is currently in Chicago with a rare musical instrument dealer who has arranged for its repair and recondition to enhance its value for sale.

UNR said it has hired a consultant to market the high priced item.

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UNR said the money will go towards the funding of the University Arts Center Building, a new construction project.

The $35 million project is a 42,000 square foot addition to the Church Fine Arts.

Construction started in May and is expected to be finished by Sept. 2018.

The new building will have a recital hall, art museum, lab space, practice rooms and a recording studio.

UNR received permission to sell the violin at the Nevada System of Higher Education Board of Regents meeting on Friday in Elko.