Muhammad Ali's trunks from 'Thrilla in Manila' against Joe Frazier to be auctioned, starting at $3.8 million

Boxing legend Muhammad Ali's boxing trunks from his trilogy fight against Joe Frazier will be put up for auction.

Popularly known as 'Thrilla in Manilla,' Ali vs. Frazier 3 is considered one of the greatest heavyweight boxing matches of all time. Ali won the fight via 14th-round KO and finished the trilogy with a 2-1 record in his favor.

The Everlast boxing trunks worn by Ali in this fight will be auctioned off by Sotheby's for an estimated $4 million to $6 million. The bidding process has already started and as of the time of writing, the highest bid stands at $3.8 million. The lot will close for bidding on April 12.

The trunks have been authenticated by MeiGrey's The MeiGrade System, which photo-matches and proves the authenticity of objects. The authentication slip describes how the trunks were found and changed hands through different auctions over the years. It reads:

"These trunks were discovered in a storage unit belonging to Ali's assistant trainer and cornerman Drew "Bundini" Brown. After Brown died in September of 1987, his unpaid storage unit was sold in April 1988. The contents of the locker were auctioned by Sartain Co. Auctioneers on April 17, 1988."

"Andrew Heller, a foot specialist and surgeon acquired these trunks in that sale. In 2002, he sold them through Sotheby's Auctions. They were sold again in May 2012 through Robert Edwards Auctions and quickly sold once more in August 2012 through Heritage Auctions." [H/t sothebys.com]

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A brief history of Muhammad Ali vs. Joe Frazier trilogy

Muhammad Ali was the undefeated and undisputed heavyweight world champion when he ran into Joe Frazier in their first fight nicknamed, 'Fight of the Century.'

The fight took place on March 8, 1971, at the iconic Madison Square Garden. Frazier took the '0' from Ali's record with a dominant unanimous decision win.

The duo met at the same venue three years later. On Jan. 28, 1974, Ali avenged his loss and won the rematch by unanimous decision, setting the stage for a trilogy fight.

The 'Thrilla in Manilla' took place on Oct. 1, 1975, Ali effectively used the rope-a-dope strategy that caused Frazier to fatigue in the later rounds. Ali battered Frazier with devastating blows, causing several cuts around the eye.

By the end of Round 14, Frazier had absorbed a lot of punishment and his vision was somewhat compromised. As a result, his corner did not allow him to answer the bell for Round 15 and Ali was declared the winner by TKO, cementing his legacy as one of the greatest boxers of all time.