Guitars, amplifiers, stage-worn outfits and photographs are among the items going under the hammer.
More than 1,000 items will be sold in the sale by Julien’s Auctions in Beverley Hills, California.
Wyman said: “Collecting and archiving has been one of the great pleasures of my life and will undoubtedly be one of my legacies.
“It feels like the right time to share my archive with the world.
“I hope people will get as much joy from my collections as I have.”
A portion of the proceeds from the sale will be split between The Prince’s Trust, Macmillan Cancer Support and the Central Caribbean Marine Institute.
A 1962 Vox AC30 amplifier which it is claimed helped secure Wyman a spot in the band after he used it during his audition is one of the items being sold.
Martin Nolan, executive director of Julien’s Auctions, said: “This sale features nearly all of the important instruments, equipment and wardrobe in Wyman’s archive, offering fans a singular opportunity to own these historic pieces.
“The remaining categories of items represented in the auction are by contrast just a sample taken from Wyman’s vast archive of documents, awards, records and memorabilia.”
