However, the legal sale drew criticism from animal rights campaigners.
Today, auctioneer Andrew Grigg told the Herald that he's decided to remove the item from auction.
"With all the publicity around this item and the strong opinions that people hold, we've decided not to sell this rhino horn at auction. It has been withdrawn," said Mr Grigg.
Mr Grigg said if similar items, or antique carved rhino horn libation cups over a century old, came across his desk, he would consider them for sale.
"There is an argument that the rhino horn was just a straight commodity, with no artistic input put into it at all. However, you could argue differently to something carved over 100 years ago by some master carver."
Criticism of the sale also raised the issue of whether auction houses or traders should be allowed to sell fur coats, Nazi memorabilia, ivory items, or whalebone carvings, Mr Grigg said.