Hugh Hefner's Los Angeles Lakers championship ring from the 1999-2000 season has been put up for auction. The late Playboy magazine mogul's ring appeared on SCP Auctions on Monday with a starting bidding price of $7,500.

The founder of the most iconic lads' mag received the ring after the Lakers beat the Larry Bird coached Indiana Pacers in the 2000 NBA Finals. Hefner was given the 14-karat gold ring by his then close friend and Lakers owner Dr. Jerry Buss.

The face of the ring is paved in real-brilliant cut diamonds and has the words "World Champions" and "Lakers" on it. The ring also has ten large diamonds on the front with five appearing on each side, for a total of 2.05 carats.

The 2000 NBA title was the Lakers' first championship since Earvin Magic Johnson led them to the title in 1988. It also ushered in the era of one of the most iconic partnerships in NBA history - Shaquille O'Neal and Kobe Bryant.

Kobe Bryant
Kobe Bryant (L) of the Los Angeles Lakers holds the Larry O'Brian trophy as teammate Shaquille O'Neal (L) hold the MVP trophy after winning the NBA Championship against Indiana Pacers 19 June, 2000 Getty Images | AFP/AFP

It was the pair's first title together, and they would go on to win three titles together with the Lakers before a major falling out between them. Hefner's ring also holds significance as it was the first title Bryant won before going on to add four more rings - all with the Lakers.

"The 1999-2000 Los Angeles Lakers finished the regular season with 67 wins, finishing with the most wins since the 1971–72 L.A. team that won a franchise record 69 games," a part of the item's description read for potential bidders.

"The Lakers clinched the top playoff seed for the 25th time in franchise history, and the first in nine years. Center Shaquille O'Neal was named Most Valuable Player of the regular season and a 21-year-old Kobe Bryant earned All-NBA Defensive First Team while emerging as one of the NBA's young superstars."

The current bid for the iconic ring stands at just over $8000, and bidding is expected to continue until it closes later this week. The ring comes with the original Lakers presentation box with "Hefner" engraved on the plaque. It also comes with a Letter of Authentication (LOA) from the Playboy founder's family.

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Hugh Hefner and Crystal Hefner
Hugh Hefner and Crystal Hefner at Playboy Mansion's Annual Halloween Bash at The Playboy Mansion Getty