The vehcle goes under the hammer at the Silverstone Auctions event at the Dallas Burston Polo Club in the UK in September as one of only 158 right-hand-drive Daytonas ever made.
Elton purchased this particular car in 1973, and he held on to it until 1975 as one of its very first Ferraris. Since then, there have been several owners.
“Sir Elton John famously has a long affinity with Ferrari, having owned several range-topping V12 models that included a 365 BB, Testarossa and 512 TR over the years,” Arwel Richards, Silverstone Auctions car specialist, said in a statement.
“It is believed this Daytona was his first Ferrari, buying it at the age of 26 in 1973 and keeping it until 1975, parked alongside his 1974 Ferrari 365 Berlinetta Boxer."