Arnold Palmer Trophy sold at auction for $444,012

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Sunday, Dec. 11, 2016

AUGUSTA, Ga. (WRDW/WAGT) -- Arnold Palmer's Masters Tournament trophy sold for $444,012 Sunday morning.

There was an auction for the trophy on the website Green Jacket Auctions. The starting bid was $50,000.

The description calls the trophy a Dream Piece, or "an item so rare and desirable that the thought of actually owning it could only occur "in a dream."

The site description continues to elaborate on how the trophy went up for sale. The trophy was originally supposed to be in a golf museum on the East Coast, but the plans for the museum went under during the recession. This was one of the main items for the museum's collection.

Trophies like this one were first given as awards during the 1993 Masters Tournament. This trophy is weights twenty pounds.

The website also includes this statement from Arnold Palmer's family:

"Please be advised that the production of this trophy was arranged for by Arnold Palmer in response to a request by the owners of Bay Creek Golf Club, who promised Mr. Palmer that the trophy would be used for the sole purpose of display at the Bay Creek Hall of Champions museum. Ultimately, these owners did not build the museum and, instead of sending the trophy to Arnold, the owners sold the trophy to a third party without notifying our family. As a result, this trophy is now being sold again in this auction, which is extremely disappointing to our family. It was always Arnold's intention that this trophy would be placed in an appropriate museum or institution with which he was personally associated. We hope that the winning bidder in this auction will allow the trophy to be publicly displayed so that it can be appreciated by fans of Arnold Palmer for years to come."

Green Jacket Auctions says the only golf memorabilia item that surpasses the trophy in price is Horton Smith's Green Jacket sold in an auction in 2013. The jacket sold for $682,229.

Read the original version of this article at www.wrdw.com.