The now-famous bow-tied, Swarovski-crystal inaugural hat legendary singer and Queen of Soul, Aretha Franklin wore while belting out ' America the Beautiful' at President Barack Obama's inauguration, has become hot property, indeed.

Though, Aretha's custom-made version cost over $500, according to The Los Angeles Times, Luke Song, the milliner who designed the hat, has been overwhelmed with demands for his $179 creation and has fast exhausted his supplies, which means his 500 vendors will have at least a month's wait till they get the hat. And while, the Smithsonian wants the original, Aretha is not so sure she wants to give it up.

New York Magazine reports her saying: 'I am considering it. It would be hard to part with my chapeau since it was such a crowning moment in history. I would like to smile every time I look back at it and remember what a great moment it was in American and African-American history. Ten cheers for President Obama.'

Aretha has been Mr. Song Millinery's customer for 20-years, and Song who runs his family business in Detroit, and a graduate from Parsons the New School for Design, took two days to create the hat in the style Franklin wanted i. e. framing her face and matching her gray coat.

Mr. Song Millinery, known for its bold, statement-making church hats, has seen Song's designs gracing the heads of gospel-music legends from the Winans to the Clark Sisters. Designing 200-styles a year, a similar style to Aretha's inauguration day hat, made of lightweight fabric in 20 spring colours will sell for $150-$250.

However, while Aretha doesn't want to give up her hat, First Lady Michelle Obama's Jason Wu-designed ball gown from the historic evening, is one piece of couture that will definitely be heading for the museum, which is also interested in her Isabel Toledo ensemble from the ceremony.

Currently, the Smithsonian's collection includes 21-dresses worn by past First Ladies.