U.S. Markets open in 7 hrs 9 mins

Record set as Babe Ruth jersey sells for $5.6 million

Record set as Babe Ruth jersey sells for $5.6 million

A New York Yankees jersey worn by baseball legend Babe Ruth was sold at auction for a record-breaking $5.6 million, a statement said Saturday.

Hunt Auctions said the jersey, which dates from the 1928-1930 period of Ruth's career, went under the hammer for $5,640,000, making it the most expensive piece of sports memorabilia ever sold.

"The legacy and significance of Babe Ruth to the game of baseball and American popular culture is unmatched by any other figure in the history of this country," president of Hunt Auctions David Hunt said in a statement.

"While the record-setting prices attained today are certainly astonishing I am not surprised at all given the incredible materials and the mythical status the Babe holds in the history of this country."

The jersey was from Ruth's private family collection and was part of a collection of items auctioned at Yankee Stadium on Saturday.

The identity of the buyer was not disclosed.

Saturday's sale shattered the previous record for sports memorabilia of $4.4 million, also for a Ruth jersey, set in 2012.

Ruth, who played 22 seasons in Major League Baseball between 1914 and 1935, is widely regarded as the greatest baseball player in history, winning seven World Series.