Dumfries House, in Ayrshire, has been put up for sale by its owner the Marquess of Bute at a price of £6.75m.
The house's contents, which include some of the finest pieces of furniture made by Thomas Chippendale, are expected to make more than £12m.
One bookcase alone is hoped to fetch up to £4m which would be a record price for a piece of British furniture.
Johnny Bute, 48, who was a Formula One racing driver under the name Johnny Dumfries, first announced his intention to sell Dumfries House three years ago.
He said he wanted to restructure his family's finances and concentrate on his family home - Mount Stuart - on the Isle of Bute in the Firth of Clyde.
Dumfries House sale items
A statement from the marquess added that he hoped the sale would be beneficial to the communities of Cumnock, Auchinleck and East Ayrshire.
Dumfries House was designed and built by John, Robert and James Adam between 1754 and 1759 for William, the 5th Earl of Dumfries.
The last member of the Bute family to live in the house was Eileen, Dowager Marchioness of Bute, who died in 1993.
The property's furniture comprises some of Chippendale's most outstanding pieces.
It includes a George II bookcase which is expected to sell for between £2m and £4m.
The current sale record for British furniture is held by The Anglesey Desk, sold at Christie's for £1.76m in 1993.
Distinguished house
Charles Cator, deputy chairman of Christie's International, said the sale of the contents of Dumfries House was a significant one.
"Christie's have a proud tradition of offering works of art from distinguished houses and collections," he said.
"The importance of this auction ranks alongside the historic landmark sales of the past, such as Longleat, Houghton and Wentworth."
The furniture sale will take place in London on 12 and 13 July while the house is being sold by estate agents Savills.
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