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The auction, scheduled to end Jan. 23, had reached a high bid of $975,000 as of Thursday afternoon, far exceeding the auctioneer's estimate of $175,000-$300,000.
"Lot winner responsible for delivery expense, if hammer price exceeds 25% above reserve price, the Hoff will personally deliver the car to the new owner," the auction description reads.
The actor is auctioning off a wide range of "Hofficial merchandise," including a Baywatch pinball machine and a 14-foot model of Hasselhoff's body used in The SpongeBob SquarePants Movie.