Two Racing Icons to be Sold at Monterey

Mecum Auctions shocked the auction world with the late May announcement that they would be offering two icons from racing history at their August sale in Monterey. The first announcement was the sale of the STP-sponsored Lotus Type 56/3 Turbine Indy racecar, driven by Graham Hill at the 1968 Indianapolis 500 Mile Race, and owned by NASCAR legend “King Richard” Petty.

For the 1968 Indy 500, STP boss Andy Granatelli commissioned Colin Chapman’s Team Lotus to build four cars utilizing Pratt & Whitney turbine engines and Ferguson four-wheel-drive systems. Chapman and his team then developed the wedge-shaped Lotus 56, which was the most technologically advanced racecar of its era. The popularity and attention that the Lotus Turbine cars received during the Indy 500 helped to turn STP into a household name, and solidified the synergy between racing and brand marketing.  After the 1968 racing season concluded, chassis 56/3 made its way to First Brands (STP) corporate headquarters where it remained in their lobby until 1996, when it was acquired by Petty, who still owns the car.