NASCAR's Richard Petty is auctioning off cars and memorabilia from his racing career

“The King” is cleaning out his closet.

Living racing legend Richard Petty is auctioning off a trove of trophies, memorabilia and even some of the cars from his 60-year NASCAR career.

They include a 1974 Dodge Charger that he won 31 races with, including the 1974 Daytona 500.

Richard Petty smiles as he signs autographs during practice for the NASCAR Daytona 500 Cup Series auto race at Daytona International Speedway in Daytona Beach, Fla., Saturday, Feb. 17, 2018. (AP Photo/Phelan M. Ebenhack)

Petty won 200 races as a driver in a career that started in 1958.  (AP)

The event is being organized by Julien’s Auctions and will take place at the Planet Hollywood Resort & Casino in Las Vegas on May 12.

"You name it, we've got a little bit of everything. Some of the uniforms, some stuff that really meant something in my career," Petty told the Associated Press.

NASCAR driver Darrell Wallace Jr. waits to make a practice run for Sunday's NASCAR auto race Friday, Feb. 23, 2018, at Atlanta Motor Speedway in Hampton, Ga. (AP Photo/John Bazemore)

Darrell Wallace Jr. drives the iconic #43 car for Richard Petty Motorsports in the NASCAR Cup series.  (AP)

Petty said he has more cars and memorabilia than he can showcase in his museum in Level Cross, North Carolina.

"We feel like we've got enough stuff in the museum and none of my kids really want it," he said.

"They've got enough of their own junk. So we got together and said hey, let's throw some stuff out there and see if there are other people interested in some of the stuff we've got."

Petty won a record 200 races, including seven at the Daytona 500, and seven Cup championships.

Among other cars to be sold at the auction are a 1978 Chevrolet Monte Carlo he drove in 1979 when he won his seventh series championship and a 1992 Pontiac Grand Prix he drove during his farewell tour.

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Also up for auction will be a trophy for Petty's first Southern 500 win in 1967, part of his streak of 10 consecutive wins that year. The collection also includes a leather racing jacket signed by Petty, race programs, license plates, posters, trading cards, plaques and clothing.

Petty remains involved in NASCAR as the owner of Richard Petty Motorsports. Rookie Darrell "Bubba" Wallace now drives the 43 car Petty made famous and finished second at the Daytona 500 to open the season.

The auction will be conducted live and online by Julien's Auctions, which estimates the value of the '74 Charger at $400,000 to $600,000 and the 1967 trophy at $100,000 to $200,000.

The Associated Press contributed to this report