The lyric sheet is expected to spark worldwide interest when it goes under the hammer at Omega Auctions in Newton-le-Willows, Merseyside. The Omega Auctions showcase sale will run on November 28.
The star originally gave the sheet to an employee at Trident Studio in London's Soho so they could print the lyrics on the album's inner record bag.
They were acquired by a Bowie expert and collector in the early 1980s who is now selling them after four decades.
Recently also handwritten lyrics for The Jean Genie make £57,000 at auction
The lyrics, dated 1972, were originally given by Bowie to superfan and founder of the David Bowie fan club Neal Peters.
The song, which was released in 1972 as the lead single from his sixth studio album Aladdin Sane, tells the story of Jean Genie who “snuck off to the city, strung out on lasers”.
The lyrics are written over 18 lines on a piece of A4 lined paper, which is also titled, signed and dated by Bowie.
American fan Mr Peters founded the inaugural David Bowie fan club, based in New York City, in 1973 and was subsequently given the lyrics by his idol.
The lyrics are also accompanied by a 2009 letter on Neal Peters Collection stationery, detailing how Bowie gave Mr Peters the lyrics, along with several photocopied documents relating to the Bowie fan club and Mr Peters.
Recently David Bowie’s handwritten lyrics to his 1972 song Starman have sold for more than £200,000 (A$334,958) at auction, five times their estimated sale price. (The Guardian)
The song featured on his fifth album, The Rise and Fall of Ziggy Stardust and the Spiders from Mars, which propelled the musician to international rock and pop stardom. The A4 sheet bought by Tasmanian museum.
The handwritten lyrics, which were originally estimated to fetch up to £40,000 (A$66,991) sold for £203,500 (A$340,819), including buyer’s premium.
Olivier Varenne, director of acquisitions and alliances and collections at the Museum of Old and New Art (Mona) in Tasmania in Australia, was the winning bidder.
“We got carried away and paid too much,” Mona’s owner and founder, David Walsh, said on Wednesday.
“It’ll make an appearance in the expanded library we are currently constructing, along with many other items we got carried away with and paid too much for.”
The lyrics, sold as part of a David Bowie and glam rock sale on Tuesday, were previously on display as part of the V&A Museum’s David Bowie Is collection and had been owned by the same person since the 1980s.