The price jumped up nearly instantly to more than $330,000, and then surpassed $1 million with nine days left in the auction.
The victor, whose identity was not disclosed, will be flown to Boston on Kraft's private jet and taken to the Gillette Stadium, where he will receive the customised ring from the Patriots owner. The Patriots will send its private plane for transportation if needed.
Offered at a starting bid of $75,000, the 5.1-carat ring ultimately sold for $1.025 million, following 35 total bids over 12 days. According to the All In Challenge website, all of the money raised will go directly to Feeding America, Meals On Wheels, World Central Kitchen and No Kid Hungry.
"What could I do that would be special?"
Kraft previously noted he chose the ring from the Pats' historic 28-3 comeback against the Falcons because of its added value but also to symbolize recovery amid the COVID-19 pandemic. "I've been thinking about it for weeks".
Patriots owner Robert Kraft continues to play a prominent role in funding the battle against COVID-19
National Football League commissioner Roger Goodell hands the Lombardi Trophy to New England Patriots owner Robert Kraft after defeating the Atlanta Falcons during Super Bowl LI at NRG Stadium on February 5, 2017, in Houston, Texas.
"We came back, and we won", Kraft said while announcing the auction.
Many other celebrities and VIPs also are participating, putting up prized possessions for bidding or raffles.
Other high-profile items at the auction include a private golf lesson from Tiger Woods, now at $190,000, and 18 holes of golf with Phil Mickelson, about at $120,000. As of Thursday night, the All In Challenge had raised almost $45.7 million, according to its website.