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.
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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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