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The mechatronic has 85 points of movement and was operated by 12 people in days before computer-generated imagery. Regarded as an engineering masterpiece, it was made by Italian special effects expert Carlo Rambaldi.
ET: The Extra Terrestrial was nominated for nine Academy Awards, winning four including best visual effects.
The sci-fi movie starred child actress Drew Barrymore, now 47, and featured music by composer John Williams, 90, who won an Oscar for Best Original Score.
Memorabilia from that film and others are for sale at the Icons and Idols: Hollywood auction on December 17 and 18 in Beverly Hills, California.
A Gryffindor Quidditch team stunt robe from Harry Potter and the Chamber of Secrets could fetch up to £17,000.
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