Known as "pepperheads", the waxworks were created by the artist Peter Blake.
Also under the hammer are props and costumes from the original Beatles
display at Tussauds and a set of suits for the band's film A Hard Day's
Night.
The original Diana Dors portrait bust from the album cover by artist
Peter Blake is also for sale.
Sgt Pepper's Lonely Hearts Club Band is regularly named among the best
British albums and the cover has become an iconic piece of pop art.
Album cover of The Beatles' Sergeant Pepper
The iconic album cover was designed by Peter Blake
The busts of John Lennon, Ringo Starr and George Harrison were used on
the cover.
The waxwork head of Sir Paul McCartney was not used but is similar to
the one used in the photo shoot.
Auctioneers Cooper Owen expect the busts to fetch between £80,000 and
£100,000.
The sale also includes a collection of early Beach Boys contracts,
lyrics, hand written music sheets and original test pressings for hits
such as Fun, Fun, Fun, Good Vibrations, I Get Around and Surfin' USA.
The Rolling Stones' first recording contract, signed by Brian Jones, a
Bag One programme signed for a journalist by John and Yoko and an Art
Deco ring owned by the Lennons are also among the memorabilia.