March 3 (Bloomberg) -- In an auction that matches screen icon and iconic object, a 1940 Indian Scout motorcycle owned by Steve McQueen comes up at Bonhams on May 3 during the California show called ``Legend of the Motorcycle: International Concours d'Elegance.''

The sporty red motorcycle, restored by the late actor for competitions, may fetch as much as $80,000, the auction house said. It is being sold by the motorcycle-seat maker Michael Corbin, Bonhams said.

McQueen, who died in 1980, made his mark in films such as ``The Great Escape,'' ``Bullitt'' and ``Papillon.'' Known as the ``King of Cool,'' he is the 10th-highest earner on Forbes magazine's list of top-grossing dead stars, taking in $6 million in the year through October.

``He's one of the few celebrities who adds value to a motorcycle,'' said Andrew Reilly, a specialist in Bonhams's motoring department. ``Normally the celebrity factor makes it more salable, but not necessarily at a higher price.''

Bonhams estimated one of McQueen's Sport Scouts at the going market rate of $15,000 to $18,000 for a Los Angeles sale in 2006, Reilly said. It fetched $175,000.

The actor owned about 200 motorcycles, and a few ``trickle out'' onto the market each year, Reilly said. McQueen's family auctioned 166 motorcycles in Las Vegas in 1984, he said.

McQueen had fewer cars. In August, his 1963 Ferrari Lusso took $2.3 million at a California auction by Christie's International, doubling its top estimate.

Bonhams will auction the Indian Scout -- which comes with a letter from McQueen's children certifying that it belonged to their father -- with other motorcycles belonging to Corbin at the Ritz-Carlton hotel in Half Moon Bay, California.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net.

Last Updated: March 3, 2008 00:02 EST