A violin handcrafted in 1714 by Antonio Stradivari, the famous Italian luthier, has been sold for $11.25 million by Boston’s New England Conservatory (NEC) at a Sotheby’s auction. The music school will use the proceeds from the storied violin’s sale to create a new scholarship opportunity for students.

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.

BOSTON - The sale of a one-of-a-kind violin just raised $11.3 million for scholarships at Boston's New England Conservatory during an auction at Sotheby's in New York. The Joachim-Ma Stradivarius violin,