Some of the most remarkable bids were placed for costume and prop items from the 2000 film Gladiator, including a stunt cuirass worn by Crowe when his character Maximus died.
Open to the public and attended by Crowe, the Saturday evening event held at Carriageworks arts center featured 226 lots of the Oscar winner's belongings, including movie memorabilia, diamond jewelry, artwork, sports collectibles, and a dinosaur skull he purchased from Leonardo DiCaprio after having "way too much vodka".
The Oscar-winner chose to part with an intriguing mix of possessions including jewellery, artwork and sports memorabilia following his divorce from Danielle Spencer.
The date was carefully chosen - it's Crowe's wedding anniversary, which he once celebrated with his ex-wife, actress and singer Danielle Spencer. He separated from singer Danielle Spencer in 2012 after nine years of marriage.
"G'day folks, how're you doing?" Crowe said to the crowd. Titled The Art of Divorce, it pictures a smiling, tuxedo-clad Crowe brandishing a whiskey tumbler on the catalogue cover and came about, he explained in an interview with a Sydney morning TV show, because he decided "to turn something that was a little bit bleak into something joyful".
"It's been a lot of fun putting it together for you".
The violin fetched 135,000 Australian dollars ($103,000).
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One buyer stumped up $115,000 for a costume Crowe wore as Captain Jack Aubrey in the 2003 film "Master and Commander".
Crowe's torso armour, expected to fetch up to 30,000 Australian dollars, sold for 125,000 Australian dollars.
Perhaps the strangest item sold was a used jockstrap that Crowe wore while portraying boxer James J. Braddock in "Cinderella Man", which wound up selling for a surprising $7,000. The pair sold for A$10,000, while Sotheby's anticipated between A$10,000 and A$15,000.
Sotheby's was closer to the mark in valuing the maroon Dr Martens boots Crowe wore as the skinhead Hando in the 1992 movie Romper Stomper.
Auction house Sotheby's conducted the bidding process, taking a 22 percent commission, which the buyers have to pay on top of the bid money.
Some of the pricier lots include a diamond-encrusted 18ct white gold ring ($70,000 - $100,000), a painting by renowned Australian artist Charles Blackman ($200,000 to $250,000), and the 1986 Grammy Award presented to several musicians, including Johnny Cash and Roy Orbison, for the "Class of '55 Recording Session" ($200,000 - $300,000).