The two-and-a-half minute 8mm colour film, which is still in the original Kodak box, had been passed on to the naval man’s daughter who lives in Melbourne, Australia.
Besides Marilyn Monroe, the film also shows her co-star Tony Curtis as well as director Billy Wilder.
The footage is reported to show Monroe and Curtis on a set just before a beach scene in which she is bouncing balls to get his attention.
A CD copy and a DVD copy of the footage as well as the original 8mm film, will be up for auction in Melbourne on 25 September and is estimated to sell for at least $20,000-$30,000 (£9,000-£14,000).
Some Like It Hot is listed by the American Film Institute as the best American comedy ever made.
