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The publishing rights to one of Avicii’s most iconic songs has hit the auction market, creating an opportunity for one lucky investor to effectively own a piece of dance music history.

It was a track teased heavily in the late years of Avicii's life. When he first began playing "Without You" in 2016 at high-profile appearances such as Ultra Music Festival and Creamfields, several rough rips began to pop up online as fans feverishly speculated its release date. However, it wasn’t until August 2017 that we finally witnessed the chemistry between Avicii and Sandro Cavazza on the heartstring-tugging collaboration.

The publishing rights to "Without You" recently landed on Royalty Exchange, an emerging marketplace which facilitates the sale of royalty-generating assets, from music to intellectual property around consumer products. The auction wrapped up early Friday morning, when an unnamed bidder took home the rights to “Without You” for a predetermined 10-year period.

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Following the end of the term, the rights revert back to the original owner. However, the limited term period didn’t stop the song's valuation from flying high. The winning bid was placed at a cool $65,000 to secure the assets.

According to Royalty Exchange’s preliminary analysis, this price will still yield the winner a substantive return. An average of 11% internal rate of return (IRR) annually over the period is expected. By Royalty Exchange's measure, “Without You” generated around $20,000 in royalties over the last 12 months, but typically music royalties see a certain amount of diminishing returns year-over-year as the track ages. Therefore IRR is an especially important consideration that makes or breaks an investment in this sector.

You can read more about the auction here.

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