HAMPTON, Ga. -- NASCAR legend Richard Petty said that after "accumulating stuff" for 80 years, it's time to sell some of his most famous cars, trophies and other items.

Petty's iconic day-glow red and Petty blue 1974 Dodge Charger is going on sale at an auction on May 12 at Planet Hollywood Resort & Casino in Las Vegas, along with more cars, his 1981 Daytona 500 trophy and other items. Petty drove the '74 Charger to 31 wins, including his fifth Daytona 500 championship.

"We're putting some pretty good stuff out there, some winning Daytona cars, some rings, some watches, some knives," Petty, 80, told The Associated Press.

"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 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.

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 No. 43 car Petty made famous, and he finished second with it at the Daytona 500 to open this 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.