The clothing item will be one of 17 Lugosi lots consigned by the horror icon's son, Bela Lugosi, Jr., which will be available at the Profiles in History sale in December (11).
Lugosi gave the cape to his wife Lillian before his death in 1956 and told her to keep it for their son. Upon Lugosi's death, the family decided that he should be buried in his Dracula costume, but given the actor's wish that his son should have the cape, the family dressed the body in a lightweight version of the cape he used when making personal appearances.
Lillian Lugosi left the cape to her son upon her death in 1981.
The item is expected to fetch up to $2 million (£1.25 million) when it goes under the hammer during the sale from 15 to 17 December (11).
Also on the auction block: Judy Garland's ruby slippers from The Wizard of Oz, the DeLorean sports car from Back to the Future III and Marilyn Monroe's wedding ring from her marriage to Joe DiMaggio.