Sam the Record Man's original Toronto flagship store is shown in 2001. The Toronto landmark closes June 30. ((Andrew Stawicki/Canadian Press))

Sam the Record Man, the iconic Toronto store where generations of music lovers bought their first records, sells off its contents Wednesday.

Hundreds of pieces of rock 'n' roll memorabilia, including three four-metre neon discs, vintage furniture and other fittings, is being auctioned off by Benaco Sales Ltd.

The one-day sale will include more than 100 autographed posters, framed gold and platinum records, and pictures of Elvis, Patsy Cline and other artists.

Auctioneers will also sell off a slab of the store's wall featuring autographs byTina Turner, Steven Tyler, Ray Charles, Burton Cummings, Gordon Lightfoot, Blue Rodeo and David Bowie.

But the landmark 15-metre spinning neon discs that graced Sam's when it opened at its Yonge Street location in 1960 will remain, along with the Sam's sign.

The City of Toronto has given the Sam's store and its signs a heritage designation, whichprotect the signs from being sold and could preserve the exterior of the building.

The city pledged to negotiate withfuture owners of the property to work out a deal to maintain the two discs and the Sam signs on the rooftop "as part of the ongoing history of Yonge Street," according to councillor Kyle Rae.

The Sniderman family originally operated a shop selling appliances and car radios, but Sam Sniderman decided to break away and get into the record business in 1937 — in order to impress a girl who was interested in music.

Jason and Bobby Sniderman, sons of founder Sam Sniderman, announced in May that they would shut the store on June 30.

The store has many antique pieces, such as a five-seat English shoeshine stand, a Wurlitzer jukebox, an oak soda pop bar, three pinball machines and art deco light fixtures,which will go up for auction.

Viewing of the fixtures started Tuesday and the auction is set for 10.30 a.m. Wednesday.