The blue, three-quarter length coat, which dates from the late 1960s, is in the same style as the outfits worn by the band for the cover of their 1967 album Sgt Pepper's Lonely Hearts Club Band, reported Daily Mirror.
Lennon, who died in 1980, left the item behind at his Berkshire, England mansion when he moved to the US in 1971 and instructed his then-personal assistant Jo Jo Johns to give away his possessions.
Johns presented the coat to her friend Anthony Goddard as a birthday present and he has now decided to part ways with the garment, which is expected to fetch between USD 12,000 and USD 18,000 at the Hansons Auctioneers and Valuers event in Derbyshire, England.