Former chief whip Andrew Mitchell is selling the seven- year-old Reflex Westminster bike - wicker basket included - for the charity Nyumbani UK.
The auction on eBay will last another four days - and bids currently stand at 205 pounds.
Mitchell denies calling officers "plebs" when they refused to let him leave Downing Street on his bike via the main gate last September.
He resigned from his cabinet post in October after a media backlash.
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The auction site says Mitchell's hybrid bike is "sturdy" with a blue frame.
It comes complete with front basket, lights, horn, gears, pannier rack and mud guards, and is "still in perfect working order".
"[It] has been a regular commuter to and from the House of Commons over the years with numerous journeys to the Department for International Development and Number 10 Downing Street," the entry says.
But, it adds: "It is looking for a good home out of the limelight for its retirement years".