The contract was signed in 1918 by Ruth when he joined the Red Sox and it sold for a cool million dollars, according to Darren Rovell of ESPN.com.
The deal Ruth signed for $5,000 and along his signature the contract also has the John Hancock of then American League president Ban Johnson and Boston's owner at the time, Harry Frazee, who later sold Ruth to the New York Yankees in 1919.
The $1.02 million price tag placed on Ruth's Red Sox contract surpasses the old record held by the document that sent the Great Bambino to the Yankees, which sold for $995,000 back in 2005, per Rovell's report.
New Jersey-based Goldin Auctions held the event at the Sports Legends Museum in Baltimore on Saturday, but the name of the buyer has not been released.
Rovell also notes other items sold at the auction; however it's surprising to find out that the first home run ball for Ruth at Yankee Stadium failed to sell:
A Babe Ruth bat from his early career sold for $215,000 and a signed ball sold for $96,000, but one of the most intriguing items up for auction – the very first home run ball that Ruth hit at Yankee Stadium — failed to sell. The auction company said the ball was retrieved by a construction worker in February 1923, when Ruth was called to the new stadium to test out its dimensions. But the ball failed to get the required $100,000 reserve.
Other Yankees items sold in the auction included a glove believed to have been used by Mickey Mantle in the mid-1960s ($180,000), a full set of ticket stubs from the clinching game of each of the Yankees' 27 championships ($58,000), and the bullpen phone used in 2013, from which came many calls for Mariano Rivera in his final season ($5,000).
Two notable championship rings sold in the auction: a Super Bowl VII ring from the 1972 Miami Dolphins' perfect season presented to a part-owner's son ($19,000), and the Super Bowl XXXV Ravens ring given to backup quarterback Tony Banks, which went for $36,000.
Long after his death, it appears Ruth is still a money-maker and his items are highly coveted by collectors everywhere.
If you're interested in Ruth's first home run ball, you may want to inquire as it's still available; although you'll need to bring quite the chunk of change to get it.
Tags: American League, Babe Ruth, Baseball, Boston Red Sox, MLB, New York, New York Yankees