Justin Bieber's hair sells for $40,668 on eBay

Justin Bieber arrives at the Vanity Fair Oscar on Feb. 27, 2011, in West Hollywood, Calif.
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(CBS) A lock of Justin Bieber's hair is worth a hefty chunk of change.

The teen heartthrob's freshly-cut locks have sold for $40,668 on eBay.

Pictures: Justin Bieber

A day after cutting his hair, Bieber, who turned 17 on March 1, handed the tresses (in a signed box) over to Ellen DeGeneres, who promptly put them up on eBay, where the bid shot up to $10,000 within the first hour, according to People magazine.

Proceeds will go to the animal rescue organization The Gentle Barn Foundation.

There's no word yet on who the winning bidder is, but he or she will get to meet Bieber the next time he appears on DeGeneres' show.

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