The log ride, originally manufactured in 2001, was purchased from the Sofia Land theme park in Bulgaria for $205,160 in 2014.
The log carts for the ride are being sold separately with a starting price of $354.
Other items being auctioned by Dreamland operator Sands Heritage Limited include a pizza van, an ice cream truck, eight "jumbo Dumbos" from an elephant-themed ride, a red bus children's ride, a small carousel and a large dinosaur statue.
"None of the items listed for auction were purchased using public money. Most were bought by Sands Heritage Limited and have proved to not be of use on the site," a Sands representative told the Isle of Thanet Gazette. "A handful of non-functioning items were donated by Blackpool Pleasure Beach and Blackpool Council, these again have not proved to be of use or fit with the new design of the Dreamland site."
"Sands Heritage Limited has written to both organisations to inform them of the intention to sell items to. The items on sale are not original items from Dreamland's past," the company said.
The company revealed in December it had fallen more than $4.1 million in debt due in part to a slower-than-expected season last year.
