Dozens of eager shoppers waited in line outside of the 3.96-acre estate Lee once shared with her ex, music mogul Russell Simmons, for the chance to check out some of the items up for grabs.
"I never expected the turnout to be this great," Lee said in a statement to PEOPLE. "Seeing the excitement in people's eyes when they enter my home, find that perfect item or happen upon a vintage steal is priceless."
Some of the priciest pieces included a $200,000 Versace bed, $7,500 dinner plates, $50,000 rugs and $10,000 tables.
Not everything at the cash-only sale was expensive – and there were bargains to be found. "I bought a bread holder for $8," one savvy shopper told PEOPLE. There was also a room full of glasses, cups, martini glasses and mugs, priced from around $10 to $30.
Signs were posted throughout the sprawling mansion, which sold for $13.9 million last month, warning shoppers, "If you break it, you bought it."
Lee, who plans on donating proceeds to the YWCA and charities to benefit children and women's shelters, was at the home during the sale, filming an episode of her reality show, Kimora: Life in the Fab Lane.
"Giving back to those who support me is the ultimate act of fabulosity," Lee said. "It's cathartic for me. Less is more! Spreading the luxe and helping those in need – all at the same time."
Reporting by MICHAEL GIOIA