A guitar once belonging to Eric Clapton could fetch up to 500,000 dollars (£363,000) when it headlines an auction of rock and roll memorabilia.

The instrument will go under the hammer alongside almost 1,000 items owned and used by stars including the Beatles, Whitney Houston, Michael Jackson and Elvis Presley, among others.

The Julien’s Auctions Icons & Idols: Rock ‘n’ Roll sale will feature Clapton’s 1968 Martin D-45 acoustic guitar, which was owned and stage-played by the seminal musician.

Eric Clapton guitar
An acoustic guitar once owned and played by Eric Clapton could fetch as much as £363,000 at auction (Julien’s Auctions/PA)

The 76-year-old gave it to Welsh singer-songwriter Dave Edmunds and it is expected to sell for between 300,000-500,000 dollars (£218,000-£363,000).

And a sheet containing partial handwritten working draft lyrics to Clapton’s famed 1970 hit Layla is also included in the sale, with an estimate of 30,000-50,000 dollars (£22,000-£36,000).

That item is set to be dwarfed by handwritten lyrics for Led Zeppelin’s classic 1975 track Kashmir.

Robert Plant’s lyrics, written on The Whitehall Hotel stationery, are on offer with an estimated price of 200,000-300,000 dollars (£145,000-£218,000).

Eric Clapton lyrics
Handwritten lyrics to Eric Clapton’s Layla are also going under the hammer (Julien’s Auctions/PA)

Another piece of rock history on offer is a cream Fender Stratocaster Vintage ’57 reissue electric guitar once owned by Pink Floyd’s David Gilmour.

That could fetch as much as 100,000 dollars (£73,000), auctioneers said.

A 1972 Martin D-28 acoustic guitar played by the “King of Rock and Roll” Presley could sell for as much as 90,000 dollars (£65,000).

Beatles items on offer include a portrait of John Lennon playing guitar, signed in pencil by artist Leroy Neiman. That could fetch as much as 20,000 dollars (£15,000).

And a nude oil painting from Bob Dylan – created in the 1960s and given by the singer-songwriter to his manager Albert Grossman – is estimated to go for up to 200,000 dollars (£145,000).

John Lennon portrait
A portrait of John Lennon by artist Leroy Neiman is another piece of rock and roll memorabilia on offer to fans (Julien’s Auctions/PA)

Darren Julien, president and chief executive officer of Julien’s Auctions, said: “Julien’s Auctions is honoured to present this extraordinary collection of historic and important music relics used by the pantheon of rock gods and pop music icons from the 20th century and 21st century at our annual two-day music event of the year.

“The breadth and scope of these museum-worthy collectibles represent not only the pinnacle of these legendary figures’ careers and their mythic performances but the impact of their artistry and the lives they lived on and off the stage that changed not only music but the world.”

The Julien’s Auctions Icons & Idols: Rock ‘n’ Roll sale takes place live at the Hard Rock Cafe in New York on November 19-20.

The auction will also be online at www.JuliensAuctions.com.