AceShowbiz - Several of Sylvester Stallone's props and costumes will hit the auction block in December, with his "Rocky III" boxing gloves expected to sell for up to $20,000 (£14,500).

On Thursday, September 16, publicists for California-based Julien's Auctions announced that over 500 items from the 75-year-old movie star's personal collection would be going under the hammer on December 5.

"Sylvester Stallone is one of the great icons and immense talents of the 20th and 21st century, who is the epitome of a multi-hyphenated Hollywood superstar," auction house CEO Darren Julien said in a statement.

On the reason why Stallone is selling the iconic items, Julien's executive director Martin Nolan said, "He actually is relocating, he's selling his house, so that's a perfect time for anyone to sort of downsize."

Nolan went on to add, "We expect... a huge response to this [auction] announcement because people have pent up demand for iconic items like this, authentic items coming directly from the man himself."

The listing expected to bring in the biggest bids is the red-and-white boxing gloves that Sly wore in 1982's "Rocky III", which are expected to fetch between $10,000 and $20,000 (£7,250 and £14,500). Stallone's training gloves from the 2006 sequel "Rocky Balboa" are also on sale.

Meanwhile, "Rambo" fans will have the chance to purchase a collection of knives, prop guns, machetes and a John Rambo arrow quiver from the action franchise. The headband that the actor wore in 1985's "Rambo: First Blood Part II" will also be up for sale.