Lady GaGa is auctioning her red Rolls-Royce convertible for charity.

The 29-year-old star's prized ride - believed to be the only car she owns - will be sold at auction later this month, and could fetch between $30,000 and $50,000.

Gaga famously perched herself atop the 1990 Rolls-Royce Cormiche III, flanked by her entourage, as she arrived in style for the launch of her perfume Fame at New York's Guggenheim Museum in September 2012.

The car will be sold by Julien's Auctions as part of its Music Icons auction event at the Hard Rock Café in New York City on May 17.

Auctioneer Darren Julien told MailOnline: ''Lady Gaga bought the car because she liked it and has owned it for quite some time, I believe around five years.

''It was her personal car but I don't know if she drove it or not, although people living in New York don't really drive anywhere.

''She doesn't collect cars so this may well be the only car she has, so it is a pretty rare item. The title is in her real name, Stefani Germanotta, and it's the first time a car belonging to her is going up for sale.''

Proceeds raised from the sale of the convertible will be donated to Musicares, which provides financial aid to struggling musicians.