Prince Harry‘s royal jewels must be priceless … because the auction for the underwear from his strip billiards game in Sin City is already at a quarter million bucks.

The bidding opened Thursday, on the heels of the 10-year anniversary of Harry’s wild night in Vegas, with ex-stripper Carrie Royale producing the goods … the Prince’s black undies from his memorable night in a high roller’s suite.

It only took a few minutes for the bidding to skyrocket … a $10,000 opening bid rose to $16k before a strip club owner from San Diego placed a call-in bid of $250k. That’s not a typo … it went from $16k to $250k!

Video from the live auction shows Carrie, dressed in a black cocktail dress, and some other exotic dancers going crazy when the big bid came through.

The $250k bidder, Dino, says he plans to create a shrine to Harry’s undies if he ends up winning the auction. Carrie believes the winning bid could reach as high as $1 million, and online bidding remains open until Sept. 30 or when the auction reaches $1 mil, whichever comes first.

The live portion of the auction went down at Larry Flynt‘s Hustler Club, where Carrie claims Prince Harry dropped by during his wild time in Vegas.

Remember … Harry stripped down to his birthday suit playing billiards in a Vegas suite back in August 2012, and Carrie claims she snatched the discarded undies.