The funds collected for the benefit of the Foundation for AIDS Research, amfAR, included a gift of 500,000 dollars from employees of Emirates group Pearl Dubai, a sponsor of the festival.
Mexican-American actress Salma Hayek opened the Friday evening auction by auctioning a Cartier bracelet carrying her signature, which sold for 80,000 dollars.
A rare portrait of Marilyn Monroe from 1962 with the signature of photographer Bert Stern, put into the auction by Goldie Hawn, was knocked down for 40,000 dollars.
The auction was staged on the second day of the festival, which began on Thursday with a screening of US director Oliver Stone's W, about President George W Bush.
A total of 181 films from 66 countries will be shown during the event, running until next Thursday and seen by organisers as a showcase for world cinema.