Sylvester Stallone's legendary gloves to be auctioned

While you might not be able to give a punch as Sylvester Stallone did in the 1980 boxing flick Rocky III, you can own the signature red gloves he wore along with some 500 other items of the actor career as many of his prized possessions are expected to hit the auction block Dec. 5 just in time for Christmas.

Sylvester Stallone is holding what it has termed the Property From The Life Of Julien s Auctions event. Action movie fans can bid on items such as a headband worn by Stallone in Rambo: First Blood Part II, a crossbow he used in Rambo, a boxing mouth guard that he wore in the first Rocky and even Stallone's handwritten notes about the first four Rocky films.

Some notes from Julien's estimate go for $40,000 to $60,000.

May fans snag a collection of knives from the first three films for roughly $10,000 to $20,000, Julien s predicted.

Stallone, director of Julien's, told Reuters that Martin Nolan is looking to sell the iconic items because he is moving to a new home.

He also relocating, and he is selling his house, so that is the perfect time for anyone to downsize, said Nolan.

We expect a huge response to this auction announcement because people have pent up demand for authentic items like this, iconic items coming directly from the man himself. Others items from Stallone s most popular films like Cliffhanger and Demolition Man will also be available for bidding.

We estimate the sale in the range of $1 million to $1.5 million. That s an iconic auction estimate because they are so conservative and people love this stuff, Nolan said.