On two occasions, Lolita author Vladimir Nabokov recalled having passages of this copy read to him by Mrosovsky while at Trinity College Dublin.
Simon Roberts of Bonhams auction house, where the book will be sold, explained why any work produced by Joyce is so important.
"Many consider him one of the greatest literary figures," he said.
He added that Nabokov was strongly influenced by Joyce in his teachings, and the novelist considered Ulysses to be one of the three most important books of all time.
"Such a strong link between writers like Joyce and Nabokov is always important," he added.