BIDDING for the Isle of Wight's famous monolith has reached £50,000 on ebay — but will it really sell for that price?

News of the monolith made headlines around the world, and the subsequent news it had been put on ebay was also widely reported.

All the attention has led to a slew of bids on the online auction site.

It has now hit £50,000.

Ebay states: "Remember, a bid is a binding contract. When you bid on an item in an auction, you're committing to buy it if you win."

It is possible to retract a bid, however, and there are five days to go until the end of the auction.

Isle of Wight County Press: The monolith (including (centre) Lee Peckham's photo)

The monolith appeared on Compton Beach on Sunday, and artist Tom Dunford claimed it as his.

However, according to the ebay seller, it ended up being loaded onto a National Trust truck, ready to be disposed of, when the seller 'saved' it by way of a donation to the National Trust.

He said: "The monolith is in a very sorry state. There are cracks and chips to the glass and the timber plinth that the item sat on is missing but could easily be rebuilt.

"Aside from said plinth it could easily be rebuilt and would be an awesome piece to own. You 100 per cent will not find another one — this is the real deal Isle of Wight monolith."

It is available for collection only.

The seller entitled the sale: "Authentic Isle Of Wight Monolith As Seen On Tv And Social Media."

Click here to view the auction