Sheen is selling Ruth's 1927 World Series ring and an original copy of the contract that sent Ruth from the Boston Red Sox to the New York Yankees in 1919, ESPN reported.
As of Tuesday morning, 20 people have bid on the World Series ring, with the highest amount at $611,590, which, according to ESPN, will result in it becoming the highest-priced championship ring ever sold. There is also the Red Sox's copy, which was sold at auction for $996,000 back in 2005.
The ring is now selling for $505,446 while the sales agreement is at $345,226.
Actor Charlie Sheen owns both items and made a decision to place them on the market. 'Whatever price it brings is gravy'. Sheen gave the items to auction house Lelands.com and an auction will happen on Friday.
The World Series ring was originally sold to Sheen by Josh Evans, the owner of Lelands Auctions, where the pieces are now being offered. He went 6 for 15 in the World Series sweep against the Pittsburgh Pirates, with two home runs and seven RBIs.
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The two lots are already drawing over $1 million combined, with bidding on the ring over $600,000 and bidding on the document over $400,000.
In true Sheen fashion, he doesn't recall what he paid for the artifacts, which he purchased in the '90s from auction house Lelands, which is also selling them now.
Led by Ruth and Lou Gehrig, the 1927 Yankees are considered one of the best in baseball history. He liked to tell them the story of how the Red Sox, after the 1919 season, sold Ruth to the Yankees for $100,000 and a $300,000 loan.
There are three copies of the contract of Ruth's sale.
While Sheen might have kept his precious memorabilia behind his bar, he hopes the items go to a collector who will share them with 'the world'.