Shane Warne's coveted "baggy green" cap was sold at over AUD 1 million with all funds going to the aid of the victims of Australia's deadly bushfires.
The winning bid has exceeded the amount paid for Donald Bradman's cap in 2003 at an auction held for charity purposes.
Bradman's memorabilia, which was sold for AUD 425,000, was the previous record for the highest-selling baggy green cap.
Warne, 50, wore the cap during his illustrious 145-Test career and is his country's most successful bowler in the format, claiming 708 wickets at an average of 25.41.
He is second only to Muttiah Muralitharan in the all-time list of leading wicket-takers in Tests.
Moments after the successful bid, Warne admitted on Twitter that he was blown away by the zealous response.
Thankyou so much to everyone that placed a bid & a huge Thankyou / congrats to the successful bidder - you have blown me away with your generosity and this was way beyond my expectations ! The money will go direct to the Red Cross bushfire appeal. Thankyou, Thankyou, Thankyou ?? pic.twitter.com/vyVcA7NfGs— Shane Warne (@ShaneWarne) January 9, 2020
The identity of the bidder was not immediately revealed and the individual is being reported by his initials 'M.C from Sydney'.
Warne's efforts to raise funds for the relief and rescue operations underway throughout Australia arrive at a time when the nation is ravaged by catastrophic fires that have led to the loss of 26 lives and destruction of 2,000 homes.
In addition to Warne, other members of the cricket fraternity have also lent helping hands to pay for the relief efforts to fight the unprecedented emergency.
Big Bash League stars Chris Lynn, Glenn Maxwell and D'Arcy Short have pledged to donate AUD 250 for every six they hit in the ongoing tournament.
Meanwhile, former pacer Jeff Thomson is expected to put his baggy green cap up for auction in the coming days.