The inflatable pig from the cover of Pink Floyd's Animals (1977) is up for auction at Durrants in Suffolk, UK on September 15.
The lot is among a series of pieces created by Air Artists for various rock bands and concerts over the years. Many will feature in the sale.
The pig, named Algie, infamously broke free of its moorings during the 1976 shoot and soared up to a height of around 30,000 feet.
Flights from Heathrow were cancelled until it finally came down to Earth.
Other lots include a giant Babylonian woman from the Rolling Stones' 1998 Bridges to Babylon tour.
Rob Harries, owner of Air Artists, told the BBC: "I'm sad to see them go but they very rarely see the light of day and so I would be quite happy for someone else to take them for a walk.
"The clear-out has been quite cathartic and brought back a lot of memories, but I do feel I've been there and done that now, and it's time to move on."
There are no estimates available due to the unique nature of the lots.
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