Ex-Prime Minister Mowaffak Al-Rubaie has put the item up for sale more than eight years after he witnessed Saddam hanged in 2006.
An unidentified senior Iraqi political official told media this week that several individuals from Israel and Kuwait are vying to purchase the rope — with one making a $7 million bid.
Saddam Hussein, the former President of Iraq, was in power for more than 23 years until being deposed from power by an American-led invasion in 2003. Hundreds of thousands of people, including many Kurds and Shias, are believed to have been killed during his brutal rule on account of their political and religious views.