The priceless collection includes a throne from India that belonged to Queen Victoria, as well as fans, tankards, statuettes, and furniture.
But sources close to the prince say he feels strongly about putting 'his money where his mouth is'. If successful, he will go on to urge other heads of state to follow suit.
A long-term supporter of animal rights charities, the Duke of Cambridge makes regular speeches imploring world leaders to adopt a 'zero tolerance' policy towards illegal poaching in the lucrative trade.
At home in Clarence House, William is said to have ordered for all ivory items to be hidden from sight for years.
Speaking at a conference last year, the second in line to the throne said: 'The forces that are currently destroying some of the world's most endangered species are sophisticated and powerful, but this week we are seeing the creation of an equally powerful alliance, coming together to help fight them.'
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