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Indianapolis Star
24-04-2025
- Automotive
- Indianapolis Star
IMS Museum acquires 14 cars from Chip Ganassi Racing, including 5 Indy 500-winners
This is the museum's largest acquisition since 2011. With the addition of these five Indy 500-winning cars from Ganassi, the museum now owns 39 500 winners and has in its possession 49, far and away the largest collection in the world. The collection of 500 winners provides a needed update to the museum, which gives it five Indy 500-winning cars more recent than the previously most current winner it owned (1995). INDIANAPOLIS — In the process of the IMS Museum's $60.5 million facelift, museum president Joe Hale and the museum's board made a decision that stands to alter its future for generations. With all the cars rolled out of the museum's confines, they could take stock in the entire collection, and they started to see differentiating factor in the dozens of cars they owned: They either had something to do with their mission, telling the 100-plus-year history of the Indianapolis Motor Speedway, or they didn't. Lucky for them, several of those non-mission cars had significant value, including the second-most valuable car sold at auction, the 1954 Mercedes-Benz W196 R Streamliner, an ex-Formula 1 car driven by Juan Manuel Fangio and Sir Stirling Moss which sold for $53,917,370 earlier this year. Together with RM Sotheby's, the museum sold off 11 cars in its collection, among them a (Le Mans-winning) 1964 Ferrari 250 LM ($36,344,960), a 1966 Ford GT40 MK II ($13,205,000), a 1908 Mercedes 17.3-liter 150 HP Brookland Semmering Rennwagen ($8,255,000) and a 1957 Chevrolet Corvette SS Project XP-64 ($7,705,000). In total, the 11 cars combined to fetch just short of $125 million, and with that endowment, the museum has made its largest vehicle acquisition since 2011, purchasing 14 cars, including five Indianapolis 500-winning ones, from Chip Ganassi Racing, adding the museum's first modern-day Indy cars to its collection. The museum would not revealed what it paid for the cars. 'Three or four months ago, we started having conversations with Chip, and what a great partner to have. He's basically said, 'I have these cars, and they belong in your museum where people can see them and enjoy them,'' Hale told IndyStar. 'My whole point (in this acquisition) was that if a guy or girl who's 30 or 40 comes into our museum, they really don't see a car that is in their era that they can relate to, and with this collection from Chip, we're acquiring cars from the last 30-plus years, and it's really going to resonate with a younger crowd that comes in here.' The five 500-winning cars acquired by the museum from CGR amount to all the team's victorious cars in the Greatest Spectacle in Racing, including: Juan Pablo Montoya's 2000 Indianapolis 500 Winner, Target G-force GF05 Scott Dixon's 2008 Indianapolis 500 Winner, Target Chip Ganassi Racing Dallara IR6 Dario Franchitti's 2010 Indianapolis 500 Winner, Target Chip Ganassi Racing Dallara IR6 Dario Franchitti's 2012 Indianapolis 500 Winner, Target Chip Ganassi Racing Dallara IR12 Marcus Ericsson's 2022 Indianapolis 500 Winner, Huski Chocolate Chip Ganassi Racing Honda Dallara IR18 Ahead of Thursday's news, the museum owned 34 500-winning cars, 28 of which are currently on display – 27 split between its pair of 500 winners' galleries as well as A.J. Foyt's victorious car from 1977 in the Four-Time Winners Gallery. Additionally, the museum currently has on loan the winning cars from 1996 and 2011 and eight more split between the Penske Gallery and the Four-Time Winners Gallery. With the five purchased from Ganassi, it makes 49 Indy 500-winning cars in the museum's possession, far and away the most in the world. Prior to Thursday, the museum's most recent 500-winning car acquisition came in 2021, Bobby Rahal's 1986 winner, and until the addition of the five Ganassi cars, the museum's most current 500-winning car it owned was the victorious machine of Jacques Villeneuve from 1995. Among the rest of the purchases from Ganassi include the museum's first Brickyard 400-winning car, the 2010 winner of Jamie McMurray, the Bass Pro Shops/Tracker Boats Chevrolet Impala SS, which was already on display in the museum as part of its temporary Brickyard 400-winning cars gallery. Other highlights from the museum's latest acquisition include: Scott Dixon's 2022 Indianapolis 500 Pole Winner, PNC Bank Chip Ganassi Racing Honda Dallara DW12, in which he passed Al Unser as the all-time leader in most laps led in the 500 Michael Andretti's 1994 Target/Scotch Video Reynard 94I, Chip Ganassi Racing's first team win Greg Moore's rookie year car, the 1996 Player's/Indeck Reynard 96I Alex Zanardi's 1998 CART Championship-winning car, h 1998 Reynard 98I Scott Dixon's 2015 IndyCar Championship winning car, Target Chip Ganassi Racing Chevrolet Dallara DW12 Delta Wing, one of three chassis proposals for the 2012 IndyCar season, which was unveiled at the 2010 Chicago Auto Show Juan Pablo Montoya's Target Lola B2K/00, which won the 2000 Michigan 500 Tomas Scheckter's Target Chip Ganassi Racing G-Force GF09, in which he placed fourth at the 2003 500 — the South African driver's best finish at Indianapolis 5 thoughts on the IMS Museum's glow up: From 'indoor parking lot' to immersed wonder Hale said since the news of the museum's $125 million endowment, outsiders haven't been shy about showing their interest in striking a deal. 'We've been approached by a lot of people who want to sell us stuff, but we really want to be strategic in what we add to the collection,' Hale told IndyStar. 'This (acquisition) was so important because it really does fill a void in winning 500 cars from the last 30-plus years, but I think we're going to be very strategic with any future acquisitions.' Though he declined to offer specifics on the deal with Ganassi, Hale said that moving forward with the amount the museum has left from the nearly $125 million it earned from its deaccession of those 11 cars, the museum will plan to only work off of the interest revenue the endowment earns, with which it can make future purchases of cars or memorabilia to add to its collection. 'We've made a nice acquisition from Chip, but now we want to take a very steady approach annually to determine where the gaps in our collection are,' Hale said. 'It won't always be cars. It could be different items we think belong in our collection, whether it's a helmet or a race suit or a trophy.'
Bloomberg
26-03-2025
- Automotive
- Bloomberg
Wanna Buy a Car? The Boss at RM Sotheby's Auctions Has Some Advice
The specter of tariffs has new automobile manufacturers bracing for the worst, but for the collecting side of the business, recent auctions indicate quite the opposite of doom and gloom. RM Sotheby's will sell almost $1 billion in cars this year, about the same as 2024, says Rob Myers, the chairman and chief executive officer of the RM Group of Companies. He's off to a blistering start. On Feb. 1, at the Mercedes-Benz Museum in Stuttgart, Germany, RM Sotheby's sold a 1954 Mercedes-Benz W 196 R Streamliner for $53 days later, at the Retromobile auto show in Paris, it sold a 1965 Ferrari 250 LM for $36 million. On Feb. 27 it sold a 1966 Ford GT40 Mk II for $13.2 million, one of 86 cars that totaled $74.4 million during two days of sales at the company's ModaMiami automotive festival in Coral Gables, Florida. In April it will sell two Fiats and one Lancia once owned by the Italian industrialist and style icon Gianni Agnelli. Myers, a Canadian entrepreneur with a reputation for being as shrewd as he is mercurial, has earned his current position in the industry with his relentless drive at the company he founded as RM Auto Restoration in 1976. Sotheby's took a minority stake in 2015 and a majority in 2022; offices now span almost a dozen cities including Dubai, London and Los Angeles.
Yahoo
31-01-2025
- Automotive
- Yahoo
IMS Museum aiming to raise $100 million by auctioning most valuable race cars
The Indianapolis Motor Speedway Museum is selling its most valuable cars in partnership with auction house RM Sotheby's and hopes to raise more than $100,000,000 from the release. A total of 11 cars have been pulled from the museum, which serves as an independent entity that lives on the property owned by Roger Penske but was not included in the purchase of IMS by Penske Entertainment in 2020. The majority of the lot represent donated cars and acquisitions of incredibly rare and valuable vehicles from series other than IndyCar and lack Indianapolis 500 provenance. Based on the anticipated auction prices listed for the 11 cars, more than $106,000,000 could be generated if the big numbers are achieved for the first two and median prices are reached for the last eight offerings. 1954 Mercedes-Benz W196 R Streamliner Formula 1 car (north of $52,000,000) 1964 Le Mans-winning Ferrari 250 LM (north of $26,000,000) 1966 Ford GT40 Mk II ($8,000,000-$11,000,000) 1957 Chevrolet Corvette SS Project XP-64 ($5,000,000-$7,000,000) 1908 Mercedes 17.3-Liter 150 HP 'Brookland' Semmering Rennwagen ($7,000,000-$9,000,000) 1907 Itala 120 HP Works Racing Car ($2,000,000-$3,000,000) 1930 Bugatti Type 35B Grand Prix ($1,000,000-$1,800,000) 1991 Benetton B191 Formula 1 ($600,000-$1,000,000) 1965 Spirit of America Sonic I ($500,000-$1,000,000) 1911 Mercedes 22/40 HP 'Colonial' Double Phaeton ($150,000-$250,000) 1911 Laurin & Klement Type S2 Sportswagen ($100,000-$150,000). According to the museum, which closed in November of 2023 and re-opens in April after seeking to raise and invest $89,000,000 into a renovation of the property, the building that opened its doors in 1956 and its board of directors will put the auction income to good use as a means to secure the museum's future. 'After much deliberation, the Indianapolis Motor Speedway Museum decided to de-access and sell nine vehicles from our collection that do not match our mission,' the museum's Kara Kovert Pray told RACER. 'We are also selling two additional vehicles previously approved for de-accession in 2021. The de-accession and sale of artifacts is something we have been doing since 2017, and these are the last of the vehicles not directly connected to the mission of the Indianapolis Motor Speedway Museum.' If there's a downside of selling some of the cars headed to RM Sotheby's, it's in the loss of variety among the Indy 500-centric machines that dominate the museum. With so many of the same cars displayed year after year, the intermingling of iconic Formula 1 cars, sports cars, land speed record vehicles and early automobiles brought variety to an otherwise and often predictable array of Indy 500 showpieces. Assuming the nine-figure sum is reached, the museum could put some of the funds towards acquiring new cars to backfill the outgoing 11. 'The proceeds from the sale will allow us to create a robust endowment that will ensure the Museum's long-term viability,' Pray continued. 'This endowment will allow us to acquire additional cars and artifacts, restore and care for our vast collection, and solidify the Museum as a cultural destination for years to come. These funds are not going towards the capital campaign funding the IMS Museum's complete renovation.' The first car to go under the auction hammer is the 1954 Mercedes-Benz W196 R in Germany on Feb. 1, followed by the 1964 Ferrari 250 LM in Paris on Feb. 4-5, and the rest are set for auction on Feb. 27-28 in Miami. Story originally appeared on Racer
