Peter Beard's Heart Attack City (1972/1998) is expected to make around £300,000-400,000 ($436,800-582,400) at Christie's.
The auction will take place in London on May 20.
It is a prime example of Beard's mixed media work, consisting of photographs, paint, writing and found objects.
Beard's artworks often document his extraordinary life, most of it spent in Kenya. In particular his work focuses on the environmental destruction of his adopted land.
Sotheby's comments: "'Heart Attack City' is the most remarkable collage work by Peter Beard to have appeared on the market for many years.
"Ambitious in scale, with its high-impact principal image of Marilyn Monroe, this is an exceptionally dense work that repays detailed reading.
"It is enhanced with collage elements and hand interventions, further embellished with a variety of ephemera and objects trouvés, among them a snakeskin and an infant's shoe."
Hiroshi Sugimoto's Baltic Sea (1996), a work from his iconic Seascape series, is valued at £180,000-240,000 ($262,080-349,440).
The piece is numbered two of an edition of five and is signed by the photographer.
Sugimoto is one of Japan's most acclaimed photographers, best known for his extreme long exposure images.
His record is $1.8m, set for a triptych of seascapes in 2007.
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