Friday, December 10, 2010

Naismith Basketball Rules Sold

Here is the biggest auction news of the week. James Naismith's original 13 rules of basketball went on the auction block and closed at an incredible price of $4,338,500 (including buyer premium) at Sotheby's. Go here for some incredible picks from Sotheby's. It was sold in benefit of the Naismith International Basketball Foundation.

“It’s really the genesis, the birth certificate of one of the world’s most popular sports,” he said in October when the sale was announced. “It’s a sport that has had an impact on everything from fashion, such as sneakers, to culture that in a way transcends sports.


James Naismith penned the 13 rules on Dec. 21, 1891, for the YMCA training school in Springfield. His boss had given him two weeks to come up with a new indoor activity for his gym class, and he wrote down the rules on the eve of that deadline.

He gave the list to his secretary, who typed them up on two pages that Naismith pinned on a bulletin board outside the gym.

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