Kerry Taylor of Kerry Taylor Auctions said the outfits and letters from the "Breakfast at Tiffany's" star will be auctioned off at the Royal Opera Arcade on three unspecified days in December, The Daily Telegraph reported Saturday.
Among the items that will be up for auction are blue cloque silk cocktail dress created by designer Hubert de Givenchy for his Autumn-Winter 1966 collection.
In addition to the cocktail dress, which is valued at as much as $24,000, auction officials will be offering the black Chantilly lace cocktail dress Hepburn wore in the 1966 film "How to Steal a Million."
Taylor said the auction, which will feature letters from Hepburn detailing her career and personal life, is a rare opportunity to get items linked to the famed actress.
"We are very excited to have been chosen to handle this historic auction," Taylor told the Telegraph. "Hardly any Audrey Hepburn clothing has come onto the market in the past and the few pieces that have went on to sell for six figures."