The 22-year old princess is selling the hat for charity, and will donate the money raised to Unicef and Children in Crisis.
Dragon’s Den star Duncan Bannatyne met the starting price of £5,000 when the hat was posted on the online auction site.
A Unicef spokeswoman said: “We’re so pleased Princess Beatrice has done this and every penny raised will make a difference.
“Already £5,000 is enough to provide four essential midwifery kits, which contain all of the medicines, medical supplies and sterilisation equipment for a maternity ward to support the safe delivery of 50 babies.”
Mr Bannatyne, who is a UK ambassador for Unicef, added: “Whatever anyone thinks of the hat, it’s fantastic that Princess Beatrice is doing this for Unicef and Children in Crisis. Good for her…I’d encourage everyone to get bidding to raise as much money as possible. For once I don’t mind if I don’t walk away with the deal.”
The auction closes on 22 May for what is billed as a “unique sculptural celebratory headpiece.”
There were 9 bids and the price stood at £5,900 on Friday evening.
If that’s a little out of your price range, never fear. Channel 4 News enlisted origami expert, Mark Bolitho, the Secretary of the British Origami Society, to make a different version.
Channel 4 News Presenter Krishnan Guru-Murthy models the hat, right. And Mark Bolitho shows how it’s done below.