FORT WORTH, Texas -- A world record-holding longhorn bull sold for an eye-popping price on the auction block in Fort Worth Friday.

The bull, named Cowboy Tuff Chex, went for $165,000 to Richard and Jeanne Filip, longhorn enthusiasts and breeders who own a ranch in Fayetteville, Texas.

"I was kind of sitting there on the edge of my seat thinking, 'Oh, well it's cheaper than a boat!'" said Jeanne Filip in an interview following the auction.

Cowboy Tuff Chex was highly sought after because of his remarkable horns. They measure more than 100 inches in length tip-to-tip, certified by the Guinness Book of World Records as the longest horns in the world. The bull is 7 years old, and breeders say he will be productive for many more years.

"He's young enough, so somebody else can buy him, and he can take their herd to a different level, just like he did ours," said Bob Loomis, the bull's previous owner.

Longhorn cattle are the stuff of Texas legend, and they're also big business. Breeders will pay top dollar for the right genes, hoping to breed more animals that are prized by collectors.

"They are the gentlest, sweetest cow," said Loomis.

Tonight's Longhorn Auction auction was held at the historic Fort Worth Stockyards. Live auctions returned to the Stockyards last year, held in the Livestock Exchange Building that first hosted auctions more than 100 years ago.

Hundreds of people packed the arena to see the cattle up for grabs, and everyone took notice when bidding opened for Tuff Chex.

"Ladies and gentlemen, it's your chance to own the greatest bull in the longhorn world!" announced the auctioneer.

They first asked for $300,000, but with no takers, bidding started at $50,000. It quickly climbed over $100,000. Within minutes, it topped out at $165,000.

"We feel like we got a bargain. We were prepared to go higher," said Jeanne Filip.

Some had expected Tuff Chex to go for as much as a half-million dollars. Now, he'll be treated like a million bucks at his new home, where the Filips said he will be used for breeding.

"We're going to bubble wrap him when we get him to the ranch," said Jeanne Filip. "He's the VIP!"