Bobby Jones' green jacket tops estimate

A green jacket believed to be have been owned by Augusta National Golf Club co-founder Bobby Jones sold for more than expected Thursday.

The 1937 jacket, a prototype made by Haskett and thought to be Jones' first green jacket, brought $310,700 at Heritage Auctions' Vintage Sports Collectibles Platinum Auction, held in conjunction with the National Sports Collectors Convention, in Chicago.

In July, the auction house said it expected the jacket to fetch more than $100,000.

"We felt comfortable estimating it at that," said Mike Gutierrez, consignment director of sports for Heritage Auctions. "For items rare and scarce and somewhat one of a kind, despite the economic issues of the time, there are still some people out there with unlimited funds."

The two-button wool jacket features a patch with the letters "ANGC" on the left breast. The initials "RTJ" are also sewn onto the jacket. It was purchased by an overseas buyer who has chosen to remain anonymous.

Green jackets rarely come up for sale because Augusta National restricts the jackets from being taken off club grounds, and the only exception is that the winner of the Masters Tournament gets to keep it for a year.

According to Augusta National, there are three original portraits of Jones that are displayed at the club. The one in the entry way of the clubhouse was painted by J.A.A. Berrie and is based off a painting Berrie did in 1930. Thomas Stephens painted portraits of Jones, Clifford Roberts and President Eisenhower that hang in the Trophy Room of the clubhouse. And, President Eisenhower painted the portrait of Jones that hangs in Chairman Billy Payne's office.

Of the three portraits, only the one by Stephens depicts Jones in a green jacket. Jones' green jacket has a more modern patch with the Augusta National logo, which is different than the one for auction.

The auction house said the artist sold the jacket, and it has a notarized letter that it says traces the chain of custody. A second letter of authenticity from former club photographer Frank Christian verifies the style of jacket as being the earliest of its kind, according to Heritage.

The notarized letter dated Oct. 31, 1991, comes from Anthony Akey, who wrote that his father John Akey received the green jacket as a gift from a wealthy friend in Connecticut. Anthony Akey wrote that his father's friend took possession of the jacket when the artist sold it in the late 1970s.

The letter from Christian is dated May 2, 2003, and is addressed to Dr. Barry L. Glaser, the former owner of the jacket. He says the jacket "may well be the greatest golfing collectible in America."