The documents go on public view in New York from June 21 through June 29 in preparation for a June 30 auction.
Sotheby's calls the collection -- most of which had been stored for years in the basement of the home of Coretta Scott King -- "the most important American archive of the 20th century in private hands," the Atlanta Journal-Constitution reported.
Young, who marched with King during the civil rights movement, is backing the creation of a civil rights museum in Atlanta. He said housing the papers away from Atlanta would "rob the city of its heritage."
"This is a cheap city if it does not come up with enough money to keep that heritage here," Young told the newspaper.
Sotheby's says it hopes to fetch between $15 million and the collection's appraised value of $30 million. The documents, dating from 1946 to 1968, include an early draft of King's famous 1963 "I Have A Dream" speech and his notes on the assassination of President John F. Kennedy.