Proceeds from the auction will benefit From One Hand to Another, Williams' educational non-profit organization.
“I'm giving up the Buffalo Hat I wore to the GRAMMYs to help underserved kids get the educational tools they need," Pharrell said in a statement. "Our organization, From One Hand to Another, is committed to bringing kids experiences that ignite their passions, challenge their minds and prepare them for success.”
The hat went on sale at 8 p.m. ET Thursday night (Feb. 20), with the article of clothing hitting a $10,500 bid at press time. It'll be available through March 2.
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Pharrell gained notoriety for his oversized hat last month, donning the garb for his appearances and performances at the GRAMMYs -- including wins for album of the year with Daft Punk's "Random Access Memories," as well as a Stevie Wonder-assisted live performance of "Get Lucky."