James who was declared bankrupt in May had a long career playing for Liverpool, Aston Villa, West Ham, Manchester City, Portsmouth and England.
Items to be sold through London-based auctioneer Hilco are 150 signed shirts, shorts and match balls.
The 44-year-old won 53 caps for England in a career that also saw the goalkeeper play for Watford, Bristol City and Bournemouth. James is currently the goalkeeper and manager for Indian Super League side Kerala Blasters FC.
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