He dubbed his megabucks garage sale "The Art of Divorce" after finalising his split from former wife Danielle Spencer.
Russell even put in a surprise appearance at the event.
And the auction of some 227 items has given him further reason to recall the day as a red-letter day.
More than 85 per cent of the 226 items on offer were sold, including a violin used in the 2003 film Master and Commander which went for $135,000.
In addition to the pricey jock strap, one notable piece was the molded polyurethane "armor" that Crowe wore in Gladiator, which was estimated at $20,000-$30,000, but sold for $125,000. About 200 picture theaters, props from some of the most well-known movies, including Gladiator, Master and Commander, LA Confidential and The Insider, went under the hammer.
A replica Roman chariot, thought to be worth up to 10,000 Australian dollars (£5,446), was sold for 65,000 Australian dollars (£35,400).
Another buyer snapped up a mounted Mosasaur skull for $65,000, while a life-size horse prop trotted home for $5500.
A pair of black leather wrist cuffs was snatched for $32,000.
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The featherweight bout between Artem Lobov and Alex Caceres , due to Lobov's involvement in the incident, was also cancelled. One of the McGregor's friends and fellow fighters involved in the incident, Cian Cowley, had his bail set at $25,000.
However, there was also prized Australian art on show from artists such as Sidney Nolan and Margaret Olley. For sports fans there was a bronze sculpture of cricketer Sir Donald Bradman. The price was exceeded by two paintings from Crowe's collection.
One of the costumes from the film Gladiator owned by actor Russell Crowe was among the actor Russell Crowe's collection that was auctioned at Carriageworks on Saturday.
A second bat used by Martin Crowe to score 142 test runs a century against England at Lords Cricket ground in 1994 also sold for $21,000.
Russell Crowe's "Art of Divorce" auction has raised $3.7 million. Crowe said to the crowd.
"Career stuff, stuff I've collected, and stuff in general". The couple have two sons, Charles, 14, and Tennyson, 10. "It was Crowe mania", Singer told the Seven Network on Sunday.
"Once I commit to something, I stick with it, so you never know..."
Russell split from his wife Danielle five years ago, and chose to sell off their belongings and bring closure to their life together.