A beige, collarless mohair suit once worn by John Lennon is set to be auctioned off.

Lennon's suit was originally donated by manager Brian Epstein, along with the three other members' jackets, to London's Madame Tussauds for the first wax works of the band.

However, it was misplaced and only found in 2006 at a warehouse owned by the company.

As reported by the Daily Express, the item will be sold by online auction house Fame Bureau. Its value is estimated at $165,000.

"This suit changed attitudes and was a major cultural change," James Wilkinson, of the Fame Bureau, said.

"Before they had this makeover, the Beatles were rockers. They idolized Elvis and wore black leather jackets.

But Brian Epstein had the foresight to change their appearance to a more wholesome look so they would appeal to a much wider audience, and these suits were a major part of that image.

The result turned the Beatles into a clean-cut, media-friendly powerhouse.

The suits traversed the Atlantic and the style was later imitated by many US musicians."