The collection, which includes some of the most significant guitars from Knopfler’s 50-year career, is on show at Christie’s auction house ahead of the Jan 31 sale.

“It’s a wonderful collection of 122 items from Mark Knopfler spanning all of his career, and it represents physically his career as a musician and an instigator and supplier of our communal soundtrack,” Kerry Keane, Christie’s specialist consultant for musical instruments, told Reuters.

A 1983 red Schecter Telecaster-style guitar used to record Dire Straits’ hit “Walk of Life”, and which featured in its accompanying music video, is estimated between £4,000 (RM24,000) and £6,000.

A 1983 Gibson Les Paul Standard ’59 reissue used for the track “Money for Nothing”, which contains one of Knopfler’s most iconic guitar riffs, has an estimate of £6,000-£8,000 pounds.

Christie’s said an original version of the 1959 Gibson Les Paul used by Knopfler for performances in the 2000s was likely to fetch the sale’s highest price, with an estimate of £300,000-£500,000.

“It is a really special vintage instrument that, in its own right, without the Mark Knopfler connection, is very valuable,” said Christie’s specialist head of private and iconic collections, Amelia Walker, who is leading the sale.

For Dire Straits fans with less cash to hand, the sale is also offering lots, including a balalaika, valued at £300-£500.