Indianapolis Motor Speedway Museum auctioning some cars

INDIANAPOLIS » Dozens of cars in the basement of the Indianapolis Motor Speedway Museum are being auctioned off as the facility continues to revamp its collection.

Since mid-May, the museum — dedicated to preserving the history of automobiles and auto racing — has generated about $320,000 after selling 14 vehicles, the Indiana Business Journal reported.

Most of the vehicles were early 20th Century cars and Ford Model T’s that had not been used during races.

More than 70 cars are expected to be sold through the end of 2021, with proceeds to be reinvested in the maintenance of the museum’s remaining vehicles in addition to obtaining new memorabilia.

Last week, a 1939 Bantam roadster purchased by the Indianapolis Motor Speedway Foundation in 1967 was on the block before it sold for $8,600.

“We think this can be a $1 million exercise between the end of this year and next year,” said Bill Oesterle, a board member who is serving as the museum’s interim president. “We have a world-class collection— truly unique across the world — andwe canuse thosedollars to take care of this collection and to add to it.”

Oesterle, chief executive of local tech firm tMap LLC and a founder ofAngie’sList, said the funds will help the museum amplify the history of the speedway and its drivers.

hemuseum, through the Indianapolis Motor Speedway Foundation Inc., generated revenue of $4.75million last year, up from $4.1 million in 2018.

The museum has partnered with San Franciscobased online auction site Bring a Trailer, which has more than 145,000 registered users, to sell the cars. The platform uses a variety ofmedia to disseminate information about the vehicles available, including photos and videos.

One of the cars already sold was a 1907 Franklin Model G, a four-passenger touringmodel theSpeedway Foundation bought in 1961. The Franklin Model G was sold for $51,111 on June 26.

Additionally, themuseum must find and select an executive director to replace Betsy Smith, who left earlier this year. The move comes after Roger Penske became owner of the Indianapolis Motor Speedway in January.