The Scottish band are putting stuffed teddy Tigger, which featured on the cover of debut album Tigermilk, released in 1996, up for auction.
Despite stating “wear and tear” around the neck that has left stuffing visible, more than 70 people have so far bid on the bear pushing the price tag up to a massive £14,100.
The teddy, which was photographed appearing to feed from the breast of a young woman, is being sold to raise funds for charity Hearing Dogs - chosen by the model’s son.
In a statement, Belle and Sebastian said: “Thanks to Tigermilk cover star Joanne and her son Arch for donating [the original] other cover star Tigger.
“We’re auctioning off this magic little piece of B&S history to raise money for Arch’s chosen charity Hearing Dogs.”
The Disney product was purchased at now-closed Glasgow toy shop The Sentry Box, which itself featured in the video for Belle and Sebastian’s track Dog On Wheels.
Tigermilk was the first of nine albums released by the Glasgow band.
It scooped a gong for ‘best newcomer’ at the Brit Awards four years after its release, after fans inundated organisers with votes.
Only 1000 copies were issued at its debut but the record has gone on to chalk up six-figure sales as a result of a subsequent reissue.
The item description on the auction site reads: “Tigger is a well known face for lovers of Belle and Sebastian’s debut album Tigermilk.
“If you have a love of tigers, or indeed dogs, or if you simply want to own a very special part of the Belle & Sebastian history, then place your bid today.”
And with bidding set to end on Friday, the mascot - described as being “previously loved by” singer Stuart Murdoch” - could fetch even more than £14,000.