Mr Margolin, who died a year ago of motor neurone disease at the age of 83, was a veteran of many auctions.
He was often seen buying at auction even in his later years and had consigned at least four collections to auction since 1961 when his motor vehicle selling business was seriously affected by that year's big credit squeeze.
That sale, of the contents of the Toorak house owned by him and his wife Cecile Margolin, grossed $51,000.
The sale being held by Mossgreen has a low estimate of $250,000 but this is now expected to much exceeded.
In between times, Mr Margolin has had property on the market at asking prices of up to $15 million and contents valued (by Mr Margolin) to match.
Totals for the two intervening auctions have proved elusive but the offerings were valued, at least by Mr Margolin, far in excess of the amounts in real terms recorded for the 1961 affair and Monday's sale.
Mr Margolin and his wife Cecile who are/were French came to Australia in 1961 and accumulated 14 used car yards.
This was the basis of a small fortune which helped pay for the first accumulation.
He recovered sufficiently to buy the prestigious old property, the former Sir Warwick Fairfax pile, of Barford in Bellevue Hill in Sydney.
He and Cecile put together an extensive and eclectic collection of decorative arts with an emphasis on Louis Farouk.
The latter is the pejorative style given by purists to more recently manufactured copies of rich and ornate 18th century French furniture, but also reflecting his other his other interests, such as his Spanish horse dancing school (El Caballo Blanco) and bull fighting.
The coming sale includes several whips.
Mr Margolin was no stranger to financial big dipper rides and controversy.
One of most celebrated of these was that generated when the charitable nature of the property the Margolins purchased after selling Barford was discussed in NSW state parliament.
It was found in breach of the regulations and its status withdrawn.
A zoo had been established on the site which was known as Notre Dame where the Margolins lived in a Hollywood tycoon manner with a raised executive director arm chair overlooking a grand swimming pool.
The asking price of $15 million for property was cut back significantly before it was sold.
Monday's offering embraces the last of this collection of 508 lots, mostly from a few hundred dollars to a thousand dollars each.
The emphasis is on porcelain, vases and clocks in the Sevres manner, mounted animal trophies, and the ecelecticism for which the exuberant character was well known.
There is typically a large Sevres pattern porcelain battle scene vase with bronze mounts, French, circa 1900 estimated at $1,500-2,500 and a Louis XV style bronze and gilt bronze elephant form clock at $1,000-2,000
An oak and cow horn dinner gong and beater with metal mounts, Scottish, circa 1900 is offered at a resounding $120 to $180, and a facsimile suit of chain mail armour with a helmet and stand at $150 to $250.
A scarlet boulle and bronze mounted long-cased clock in the Louis XIV style is estimated at $4000 and $6000.
Even as the source of Monday's sale leaks out the bidding is unlikely to be as frenzied as it was when the contents of Barford were offered for sale via the unusual partnership of Leonard Joel and James R. Lawson's on August 21, 1981.
The first 275 lots offered in that sale fetched $433,000.
The National Trust became involved and frantic bidding drove up prices of reproduction furniture based on the designs of the earlier master ebeniste Andre Boulle.
The wife of a Brisbane property developer paid $7,250 for an ebonised and Boulle double bed while a Sydney property investor paid $3800 for an ebonised boulle bonheur du jour.
But most outstandingly a clock by Linke was reportedly sold for $50,000 to a French dealer.
Professional publicists were engaged.
The sale of the contents of Mulgoa by Christie's Australia in 1995 are remembered dimly as a much more difficult affair.
Mossgreen managing director Mr Paul Sumner declined to confirm the source of Monday's offering but added that this would have added greatly to the interest.
Cecile, however, confirmed to the writer that our guess, based on the richly decorative nature of variety of the offering was correct.
She said that she and Emmanuel had been sweetheart favourites but it was now time to tidy up their last precious belongings.
Mr Sumner said that reserves had been kept very low. The Margolins bought when prices were much higher and the interest in French antiques much higher.
Had Mr Margolin been present, his passion for Napoleon, Mary Queen of Scots and other historical celebrities to whom it would be possible to link many of the pieces - at least in terms of copies and style - would have made the sale an even grander occasion