I think Bags and Ed have the senario nailed down pretty accurately. The town people who are in charge of this fiasco don't know anything about "cars"; they're just trying to promote as much focus on Tulsa as they can for their Centenial, and that car has attracted more global attention then they ever dreamed of.
In my opinion, Boyd got in there for his own publicity, and maybe the hope of purchasing the car from the lucky winner (if he/she can ever be determined). Right now, he's probably disapointed that he's already put in as much as he has with little prospects of a future profit on the whole thing. He'll play it till the end though, hoping he can turn it into something for himself. It's getting close to the end. Time will tell.