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Auctioneer Philip Allwood said: 'These photographs are more than 30 years old, but the models still attract a fervent following, and we're expecting a lot of interest from their fans.
Her photo was published under the headline 'Sam, 16, Quits A-Levels for Ooh-Levels'.
The Sun continues to run the Page 3 website which features multiple topless shots of a different model on a daily basis.
The estranged wife of Sir Paul McCartney admitted she had taken part in the photoshoot which showed her smothered in baby oil and performing sex acts with a male model.
She is currently a contestant on Celebrity Big Brother.