It takes time for traditions to build. When Lord Stanley first donated a cup in 1892 for hockey teams to compete for, he had no idea it would eventually become the most recognizable trophy in sports. The same general idea applies to the green jackets winners of the Masters are given. Horton Smith won the first contest in 1934, and until recently, no one had any idea where his victory jacket even was. The 34 long as assumed lost, but fortunately for a distant relative, it turned up, and now, he’s a whole lot richer.

According to ESPN, the jacket was discovered inside the relative’s closet. It was later turned over to Green Jacket Auctions, and it was officially sold yesterday for the staggering price of $682,229.45, which is believed to be the highest figure anyone has ever paid for a piece of golfing memorabilia. Thus far, the new owner has not made himself known to the public, but one would imagine he’s very affluent and a very big fan of golf. There’s no country club swagger quite like showing up to a men’s league awards buffet with an authentic green jacket on.

Golf fans will argue until they’re blue in the face about what major tournament is the best. There are some who prefer the obnoxiously hard conditions and long rough of the US Open. There are others who can’t get enough of the unpredictable weather and wild fescue of the British Open (or just The Open). Personally, I love the Masters. I like that it’s held at the same course every year. I like Amen Corner, and I like seeing all the former champions giving it a go out there. It’s a special place, and the ratings always reflect that.

This past April, Adam Scott won his first green jacket, and in about seven months, someone else will take home a brand new one, perhaps to be auctioned off by relatives seven or eight decades from now.

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