The New Zealand-born actor said the auction will take place on April 7 and as many as 29 watches will be up for grabs.
Many of the watches were bought by Crowe while working on movies such as "Proof of Life", "Gladiator" and "American Gangster".
"This auction I'm having April 7th in Sydney will feature no less than 29 watches. Representing over half my collection . 21 or so of the ones on sale are Chronographs. Never had a flash watch as a kid. Certainly made up for it as an adult haha (sic)," Crowe tweeted.
"Every watch comes with a signed letter saying what project I associate the watch to. Auction will be live in Sydney, however you'll be able to bid from wherever you are in the world. April 7th," Crowe said.
"April 7th. I'll give you lots more details later, but you will be able to register to bid online, you'll be able to watch the auction taking place, pre auction you can view catalogue, enquire about condition, ask specialists questions. Live, phone and online bidding," he added.