Hundreds have already started to bid on items of aviation history ranging from seats to check-in desks, and even toilet signs.
The auction is the first of four, run by CA Global Partners, to sell off furniture and signs from inside the building.
Larger items, including baggage carousels and escalators, will be sold at a later date.
Ivan Macquisten, spokesperson for the auctioneers, said the airport clocks are proving the most popular so far.
The signs are particular popular, there’s a sort of retro chic appeal to them, he told Sky News.
And looking where the bids are falling so far I would say there are probably half a dozen different types of buyers.
The seasoned travellers who just want a bit of something that reminds them of where they have travelled, some serious collectors, staff who used to work in Terminal 1…
… and I think you will probably also get some commercial ventures like nightclubs, pubs, restaurants who want to have something like that hanging on their wall.
Other airports may also look to buy security cameras and scanners, all of which will be sold privately.
A series of enamel murals by the Polish artist Stefan Knapp, which were specially commissioned for the building in the 1950s, are also among the listings.
John Moore, from London, is one of the bidders for the airport clocks. He feels a particular affinity to them.
I am specifically interested in the clocks because over the years I used to travel backwards and forwards to Dublin from Terminal 1, he said.
I spent a lot of time looking at those clocks because there were always flight delays out of Heathrow – so when I saw that they were on the market I thought that if the price was sensible I’d quite like one.
It’s a rare event that something as iconic as the assets from Terminal 1 come to the market.
Terminal 1 was opened in 1968 and formally dedicated to Queen Elizabeth II in April 1969.
At the time it was the biggest short-haul terminal in Europe.
A new pier was added in the 1990s to increase the terminal’s capacity.
A further redesign and redevelopment was completed in 2005.
Terminal 1 finally closed on 29 June, 2015 as part of Heathrow’s upgrade, 50 years from when it opened.
News Source SkyNews