As of today fans will be able to bid on some of Lady Gaga's most iconic fashion pieces, including the Mugler dress she wore during Paris Fashion Week.

The singer's good friend and stylist Nicola Formichetti, creative director of iconic French fashion house Mugler, has teamed up with charitable organisation Robin Hood Foundation for a fundraising event.

The initiative, which begins today at noon, will help the organisation alleviate issues related to poverty in New York.

Fashionistas hoping to get their hands on some of Gaga's pieces need to go to the Gilt Groupe website, where they can bid on a variety of items during the three-day event.

One of the most exciting items is the white full-length frock Gaga wore when she sauntered down the runway at the Mugler Paris Fashion Week show back in March. Other prizes include concert tickets and Gaga-related charms hand-picked by Nicola.

"This is my first collaboration with Gilt and my friend Lady Gaga brought me on to this amazing project," Nicola is quoted as saying. "I was very intrigued by the idea of working with Gilt because they have such a vast range of products from casual to evening gowns, high and low, which is stuff I love to mix. So I thought it'd be a great collaboration concept and with Gaga's ideas, like a punk couture."