According to Reuters, the items were obtained after Whitney Houston's February 11 death, and will be included in the Hollywood Legends auction, which will be held at Julien's Auctions in Beverly Hills on March 31 and April 1.
While many late celebrities have had their belongs auctioned off, (Elizabeth Taylor's jewelry was recently sold.) but this might be a bit too soon for fans. Whitney Houston's death shocked the world, and this auction could generate major money.
Hopefully, whoever buys "The Bodyguard" memorabilia takes care of it, and doesn't use it for their own personal gain. These items are now a part of pop culture history, and should be treated as such.