Steve Vai Auctions Memorabilia to Benefit At-Risk Youth

When Steve Vai premiered his live DVD, 'Where the Wild Things Are,' at Grauman's Egyptian Theater in Los Angeles last month, the famed guitarist donated all the box office earnings to his favorite charity, Hollywood Arts. Vai sits on the board of directors for this non-profit organization that takes at-risk and homeless teens off the streets and puts creative tools in their hand. After the premiere, a silent auction was held featuring signed memorabilia from Madonna to Pee Wee Herman.

Vai says he was impressed with the profitable turnout. "From Madonna, we got a pickup from her guitar that she signed," Vai tells Spinner. "Slash gave us a top hat. [Iron Maiden drummer] Nicko McBrain gave us a drum set. Tom Waits gave us an original piece of artwork that he'd signed, which I bought for $1,300 and gave to David Lee Roth because Dave donated an acoustic guitar and hand-painted this incredible cool mural, which is like a devil with horns, which went for $1,000. He turned me onto Tom Waits, who is my favorite artist so I gave the original Waits piece to Dave as a thank-you. They all signed it and we raised close to $50,000."

Vai also admits to once making an unlikely purchase in the name of charity. "I bought one thing at a fundraiser once -- a Bette Midler signed boxed set," he says. "I was all over that. I'm a Bette Midler fan believe it or not."