Jamie McCarthy, Getty Images
Phillips de Pury & Company announce the sale, which will be part of Lot I of its New York Contemporary Art Evening auction, which takes place March 8 at 450 Park Ave. in New York City.
Simon de Pury, chairman of Phillips de Pury & Company, explains the vehicle's significance, which will surely bring in some big bucks for the foundation.
"Jay-Z and Kanye West are towering figures in contemporary culture," de Pury said in a statement. "They have greatly contributed to the artificial barriers between art, music, fashion and cinema to come down. Their video for 'Otis' became an instant classic. The Maybach they have transformed for it has the starring role."
Carolyn Miles, President and CEO of Save the Children went on to state that money brought in from the auction will benefit families in East Africa.
"The rains have arrived in some areas of East Africa, but the crisis is far from over," Miles said. "It will take many months for farmers and families to replenish herds and replant and harvest crops. The funds raised from auctioning off the 'Otis" car are greatly needed to help sustain families over the next several months. We are grateful to Jay-Z and Kanye West for offering up pop culture history to do good for children in Africa."
Funds from the sale of the car, which is estimated to sell at auction for more than $100,000, could feed more than 4,300 children in the Horn of Africa for a month.
Watch Jay-Z & Kanye West's 'Otis' Video