London-based Sotheby's are organising the auction, the proceeds of which will go to charity.
The collection of 500 Barbie dolls will Thursday be on show at Florence's Il Serraglio gallery from Thursday.
The dolls' outfits have been designed by Italian designer Eliana Lorena, who has worked for fashion labels such as Mandarina Duck, Poltrona Frau and Fila.
The show is being sponsored by Barbie's manufacturer Mattel's Italian subsidiary and marks the 50th anniversary of Barbie, the world's most popular doll. The veiled 'Fullah' Islamic Barbie doll hit toy stores in 2006.
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