The online auction house Gotta Have It! Collectibles will have the items on sale through March 25.
"There is a huge, huge following for Elvis and there always will be," said Peter Siegel of Gotta Have It! "He was larger than life. Today, there are children that are just totally enamored by him and kids dress like him still for Halloween."
Highlights include a blue jumpsuit and cape with gold lining that Presley wore at a Madison Square Garden performance in 1972. Siegel expected these two items to fetch at least $150,000.
The Madison Square concert marked one of the few times Presley performed in New York City and the jumpsuit is pictured on the cover of the live album "An Afternoon in the Garden."
Also on the block is Presley's white Knabe Grand Piano, which he played at his mansion, Graceland in Memphis, Tennessee from 1957 to 1969. It is expected to fetch at least $750,000.
Presley's signature sunglasses and gold and diamond owl ring are also on sale.
For tighter budgets there are numerous magazines featuring Presley on the cover and several action figures of Presley with starting bids of $10.