More than 1300 "unforgettable" items from movies including Harry Potter, Star Wars and Ghostbusters will go under the hammer in Los Angeles in March.
The T-Birds gang jacket worn by Travolta's character Danny Zuko is expected to fetch between $US100,000 and $US200,000 ($A158,500 - $A317,000).
A patterned dress worn by Dame Olivia, who died in 2022 aged 73, is on sale for $US30,000 to $US60,000 ($A47,500 - $A95,000).
It featured in the scene where her character, Sandy Olsson, went to the teenagers' favourite ice cream shop, Frosty Palace, to play the jukebox - giving Danny an opportunity to apologise for his behaviour.
The 1978 film is known for its songs, including Dame Olivia and Travolta's duets Summer Nights and You're The One That I Want, and big dance scenes.
It tells the story of Danny and Sandy who have a holiday romance, but when she starts at the same school he distances himself from her, before they change for each other.
Other items from Propstore up for auction include a Superman costume worn by Christopher Reeve in Superman III, when he transforms into a dark version of the Man of Steel - which has an estimate of $US200,000 to $US400,000.
Reeve died in 2004 aged 52, and a recent Bafta-winning documentary Super/Man: The Christopher Reeve Story told the story of his accident and life.
Boots used by Sir Charlie Chaplin in the 1940 satire The Great Dictator have an estimate of $US125,000 to $US250,000
A bomber jacket worn by Tom Cruise as Pete "Maverick" Mitchell in the 1986 action film Top Gun, a ghost trap from 1984 comedy horror Ghostbusters, Angelina Jolie's jacket from 2003's Lara Croft: Tomb Raider - The Cradle Of Life, and the robe worn by Sir Michael Gambon as Professor Albus Dumbledore in 2009 fantasy Harry Potter And The Half-Blood Prince are also up for sale.
"This auction brings together an exceptional line-up of some of the most recognisable and well-loved props and costumes in Hollywood history," Propstore chief operating officer Brandon Alinger said.
"From Star Wars and Superman to Grease and Ghostbusters, these unforgettable pieces resonate with fans across the globe, sparking nostalgia and deep connection to the films and characters they love."
Another set of lots, including a cigarette holder used by Leonardo DiCaprio's character in 2012 film Django Unchained, from the collection of Justice League director Zack Snyder will also be auctioned.
One hundred per cent of the proceeds from the sale of these items will go to the American Foundation for Suicide Prevention (AFSP).
* The three-day live auction will take place from March 26 to 28.
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