Shane Warne has joined Australia's bushfire fundraising drive, putting his prized baggy green up for auction.

Key points: Cricket fans and memorabilia collectors have until Friday night to put in a winning bid for Shane Warne's baggy green

Cricket fans and memorabilia collectors have until Friday night to put in a winning bid for Shane Warne's baggy green Warne is among a host of Australian sports stars past and present to announce bushfire fundraising measures

Warne is among a host of Australian sports stars past and present to announce bushfire fundraising measures A number of cricketers are donating money based on how many sixes they hit or wickets they claim in the Big Bash

Cricket fans have a chance to bid on Warne's Test cap until Friday night, with all proceeds to be donated to the Australian Red Cross to help those affected by fires around the country.

The item would rank among the most valuable mementos from the decorated career of Australia's all-time leading wicket-taker.

Sir Donald Bradman's baggy green sold for approximately $420,000 in 2003.

Bidding for Warne's cap, which will come with an autographed certificate of authenticity, hit $200,000 a tick over an hour after opening.

At 7:30am AEDT, the bidding was as high as $315,500 for the cap.

Warne, who joins Ash Barty, Daniel Ricciardo and many others on a long list of high-profile members of Australia's sporting community to announce fundraising measures, suggested it was the least he could do.

"The horrific bushfires in Australia have left us all in disbelief," Warne said.

"The impact these devastating fires are having on so many people is unthinkable and has touched us all. Lives have been lost, homes have been destroyed and over 500 million animals have died.

"Some of the images we're seeing are absolutely horrific."

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Collingwood star Dayne Beams also announced on Monday he was putting his 2010 AFL premiership medal up for auction to raise funds for bushfire victims.

Barty is donating all her prizemoney from this year's Brisbane International to help bushfire victims, while Ricciardo is auctioning a race suit from the Australian Grand Prix.

A stack of cricketers are donating sums of money based on how many sixes they hit or wickets they claim in this summer's Big Bash League.

Australia's Test attack pledged $1,000 per wicket in the SCG Test.

Packer makes pledge, Celeste Barber's fundraiser passes $40 million

An online fundraiser launched by Australian comedian Celeste Barber has now passed the $40 million mark for bushfire victims and firefighters.

Meanwhile, billionaire businessman James Packer and his family have upped their donation to firefighters to $5 million, having originally pledged $1 million in November.

Mr Packer had pledged the $1 million to help the NSW Rural Fire Service, and has now promised an additional $4 million to help firefighters in NSW, Victoria and Western Australia.

"Australians are digging deep to support each other in these tough times. It's truly inspiring," Mr Packer said.

"My family and Crown are eager to do more and the best way we can help, is to significantly increase our donation."

The ABC's Red Cross bushfire appeal raised $13.3 million between New Year's Eve and January 4.

AAP