Larry explains his decision, saying:
"It's like, do I want to hold on to one of Anna's dresses, or do I want to try to help Dannielynn's future? Dannielynn has different needs than other kids. She has to have security because we have a lot of curious people and it creates a bit of a problem. And now that she's starting school, she'll need to go to a private school."
Some of the items up for grabs include many of Anna's dresses, furniture, Marilyn Monroe memorabilia, as well as her own paintings.
"I have come to the realization that you don't have to have something in your hands for it to be a memory. I think Anna would appreciate that these items are going to help Dannielynn thrive and flourish and continue being the great kid that she is."
He makes a very good point. And it's great to see that he's looking out for their daughter.
Larry has made some exceptions with where certain proceeds will go.
Money collected from a dress Anna wore in a PETA ad will go to the animal rights group. He also plans to set aside a certain amount of the proceeds that will be donated to Anna Nicole and Daniel Wayne Smith Foundation.
If you're wanting to take part in the auction, it'll all be going down on June 26th at Planet Hollywood in Las Vegas.
[Image courtesy of Julien's Auctions.]