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The touching reason Olivia Newton-John is selling her iconic Grease costume

Grease star Olivia Newton-John is auctioning off the iconic skin-tight pants and leather jacket she wore in the movie.

Newton-John initially wanted to part with the items last year to coincide with the film’s 40th anniversary, but she was forced to postpone the sale due to a fractured pelvis.

"I've been wanting to auction them off for many years, and now is the perfect time," the actress told Fox 5 news in Las Vegas.

"We were going to do it on the 40th anniversary but I spent most of that in hospital, so now it's the following year and that's fine."

A portion of the money raised from the sale through Julien’s Auctions will go towards the Olivia Newton-John Cancer Wellness & Research Centre in her hometown of Melbourne.

Newton-John told Nine Style:

"We hope to raise a lot of money with the jacket and the pants as they're iconic pieces from the movie and I'm really excited," Newton-John said.

"I hope some billionaire somewhere wants to buy them for his daughter or granddaughter.”

The skin-tight pants are made out of sharkskin and the lovely pink outfit was worn to the film’s premiere at The Mann’s Chinese Theatre in LA.

There is also a custom “Pink Ladies” jacket that was presented to her by the crew at the end of filming.

Scroll through the gallery to see some of the iconic Grease outfits that are for sale.

Photo credits: Getty and Page Six