The director proposed to tragic actress Tate with the gold ruby ring in 1967, two years before the pregnant star was stabbed to death by serial killer Charles Manson and his followers.
Polanski removed the piece of jewellery from Tate’s finger when he was called to identify her body and subsequently gave the ring away to one of her close friends.
The pricey piece, estimated to be worth at least $10,000 (£6,250), is now one of the many items up for auction as part of the Gotta Have Rock and Roll pop culture memorabilia sale.
The online auction includes a bustier worn by Madonna, Justin Bieber’s jacket from his Super Bowl commercial earlier this year (11), and a collection of Elvis Presley’s shoes and jackets. It kicks off on 30 November (11) and runs until 9 December (11).