Ruth Bader Ginsburg's iconic collar is up for auction in Virginia

The late Ruth Bader Ginsburg's famous Supreme Court "Pegasus" collar is up for auction in Alexandria.

Why it matters: The fierce silver collar was RBG's chosen statement piece for a rare Supreme Court justice portrait in 2018 — her first day back on the job after recovering from a fall and fractured ribs.

What they're saying: "The collar sent the unspoken — but very clear — message that the justice was back in action and ready for duty," notes boutique Old Town auction house The Potomack Company.

Of note: Portraits are commissioned when new justices join the court (in this case, Brett Kavanaugh).

What's happening: The limited-edition Stella & Dot statement piece, hand-made of metallic feathers sewn into a silk organza cascade, is up for auction until 10am on Thursday.

• The collar is slated to fetch between $200K and $400K (current highest wager: $190K). Potomack Auction will donate some of the proceeds to the American Bar Association's Ginsburg fund.
• Being simultaneously auctioned: a lace fragment from Martha Washington, which is "evocative of the lacy jabots worn more than 200 years later" by the Supreme Court's female justices (current bid: $2,250).

The intrigue: If the bids seem low, just wait until the countdown clock starts. "People wait until the last hour or so to hide their interest in something; they don't want to give it away," a Potomack rep tells Axios.

Flashback: A gold collar of Ginsburg's fetched $176,775 in a charity auction last year.

Zoom in: The Pegasus was a gift to Ginsburg from a fan, according to Town & Country — a fellow female lawyer and ACLU alum who was inspired to send it after seeing the "RBG" documentary.

What we're watching: RBG's necklaces, including The Pegasus, are the subject of a forthcoming book, "The Collars of RBG: A Portrait of Justice," available next month.