Saturday, December 11, 2010

Basketball Rules Fetch $4,300,000.00

Two typewritten pages fetch $4.3 Million
Naismith's Basketball Rules Sell
For $4,300,000.00 USD

James Naismith (a Canadian) wrote the original 13 rules for basketball 119 years ago with the idea of creating a new game for indoor sports at a Mass. YMCA.

The historic document was sold at Sotheby's auction house and put on the block by owners, Naismith International Basketball Foundation. The proceeds will benefit the foundation which promotes sportsmanship and provides services for underprivileged children around the world.

If you ever wonder if there is any real science behind modern day finances, every now and then a story like this comes along and shows just how little value some people put in paper money.

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