Owner of the rare jersey and Auckland Communities Foundation board member Kirk Sargent said all proceeds would go towards the the Foundation.
"The signatures make the jersey special, but this jersey also has soul. I have seen first-hand the charities and individuals who have benefited from the original funds raised. I like the idea that we can up-cycle the jersey and make a new investment into our rich and vibrant community," he said.
Mr Sargent purchased the jersey "on a whim" when he attended the Mayoress' charity ball in 2012.
The auction, which closes on Monday, has been viewed more than 4500 times, and has 30 bids.
With other jerseys selling for more than $7500, Mr Sargent hoped the bidding war would continue until it closed.
Autographs include:
1987 David Kirk from New Zealand.
1991 Nick Farr-Jones from Australia.
1995 Francois Pienaar from South Africa.
1999 John Eales from Australia.
2003 Martin Johnson from England.
2007 John Smit from South Africa.
2011 Richie McCaw from New Zealand.