Elvis Presley gave the record player to a German woman as a wedding present more than 50 years ago.
Ellen Marschhauser met Elvis Presley when she attended a party at the Hotel Grunewald in Bad Nauheim in 1959.
The record player was a gift for her wedding to Jim Jenkins, with whom she later moved to the UK.
David Lay, the proprietor of the Penzance Auction House, said the sale was creating “so much excitement”.
Elvis Presley gave the record player to Ellen Marschhauser after she had helped his father, Vernon, with some translation work.
The singer had been carrying out his National Service when he met Ellen Marschhauser, who died in 2010.
The record player, a Perpetuum Ebner Musical 5v Luxus, remained in the Jenkins’ loft in Cornwall until Jim Jenkins saw a similar model in a newspaper article.
There has already been interest from Elvis Presley fan clubs around the world. An estimate of £2,000 ($3,000) has been placed on the item.
David Lay said: “I’m nervous to suggest it’s going to make some huge figure. It is an unknown quantity. Nothing like it has come on the market before.
“Normally, it’s costumes, or something signed by him, so I am being cautious. It is early days.
“I have never come across anything that has created so much excitement. It’s a unique experience for me. We are getting a lot of interest from Germany.”
The record players, which were manufactured from the mid 1950s onwards, had three record speeds and a built-in amplifier.
Jim Jenkins said: “We used it at parties. It had a great sound. But the needle broke so I put it away in the loft, thinking I would fix it one day.”
The record player will be auctioned at the Penzance Auction House on December 12.
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