A bat used by New York Yankees legend Lou Gehrig has sold for $1.025 million.
Dallas-based auction house Heritage Auctions initially included the bat in its February lot with a $950,000 reserve, but it failed to meet that price and was later purchased by a private buyer, according to ESPN's Tom VanHaaren.
"We had been discussing the bat with (the buyer) over several conversations the last couple weeks," Heritage director of sports auctions Chris Ivy said. "He decided to pull the trigger last week and make the purchase."
Ivy said the bat is significant because Gehrig returned it to Hillerich & Bradsby when he joined the Yankees in 1924 so the company could use it as a model to produce other bats for him.
"He sent this one back and said, 'Like the specs, I like the length, I like this weight, and I like how this bat was created in the factory,'" Ivy said. "So he sent it back, which is when they dated it on April 22, 1925, and said, 'This is the bat I want you to use to create my future bats.'"
Prior to this sale, the most expensive Gehrig bat sold by Heritage was in the $400,000 range.