A brown leather jockstrap, used in the 2005 film "Cinderella Man", is listed for $500 - $600.
"I haven't really thought about that, you know, but money's useful, money's fun", he said. The Gladiator replica chariot went for A$65,000, almost seven times above estimate, but the neo-Nazi boots from Romper Stomper went on estimate at A$10,000.
The auction followed Crowe finalising his divorce in December last year after nine years of marriage.
The famous breastplate worn by Russell in "Gladiator" sold for a whopping $125,000, while its matching wrist cuffs sold for $32,000, a wooden sword for $20,000 and a metal one for $70,000, $5,000 more than a chariot from the film.
Russell made a surprise appearance at the auction, appearing on stage after a rendition of Happy Birthday and subsequent three cheers.
Violin by Leandro Bisiach Sr (1864-1946) used by Crowe as the character Captain Jack Aubrey in the film Master and Commander (2003), dated 1890 - $135,000.
Some of Crowe's collection of artwork also went under the hammer with "The Suitor" by Australian painter Charles Blackman going for Aus$360,000, along with jewellery he had given to his ex-wife actress Danielle Spencer and sports memorabilia.
Earlier in the evening, costume pieces and props from his film "Gladiator" fetched tens of thousands of dollars.
The event also happened to coincide with his 54th birthday, so it was a case of double celebrations all around.
A share of the profit will go to Martin's daughter Emma, 15, as Russell promised his cousin if he ever sold the gear for more than than what he paid for it he would share the profit with Martin.
Singer said a handful of items were passed in, namely a Grammy won by Johnny Cash and others in 1986 and a 2008 customised South Sydney Rabbitohs chopper motorcycle.
"I put it in the collection as a piece of whimsy and a bit of a gag", said the actor in a clip from "Good Morning Britain" (below).