Topline
A pair of trophy oars awarded to Harvard University after winning the first of what is now an annual boat race against Yale—which marked the beginning of the now billion-dollar American college sports industry—could sell for as much as $5 million at auction next month.
Key Facts
The first rowboat race between the two elite universities was held in 1852—decades before the first football or basketball games between schools—and marked the start of American intercollegiate sports, which is now a billion-dollar business, Sotheby’s said.
If the oars sell for $5 million, they would rank among the most expensive sports memorabilia ever sold at auction (the 2019 sale of the original modern Olympic Games manifesto for $8.8 million holds the record.)
Future president Gen. Franklin Pierce, who at the time was campaigning as the Democratic Party presidential nominee, presented the black walnut oars with silver engravings that read: “1st Prize Lake Winnipiseogee Aug. 3rd, 1852” to the Harvard University rowers after they won the 2-mile regatta.
The oars are being sold by a family that has owned them for roughly 30 years, according to Sotheby’s, after finding the oars in the basement of an old rooming house their father purchased in Medford, Massachusetts, that was undergoing construction work.
The adult children of the owner recognized the significance of the oars and convinced their father to preserve them, Sotheby’s said, though it’s still unclear how the oars ended up at the house.
The online sale will be up for bids from May 17 to May 24 and will be publicly exhibited at Sotheby’s New York showroom for five days leading up to the final day of bidding.
Big Quote
“College sports in America is a uniquely American phenomenon. There's no other country in the world that is so passionate in their fan bases for collegiate sports, and [the oars are] really the beginning of that,” Richard Austin, Sotheby’s Global Head of Books & Manuscripts, told Forbes.
Surprising Fact
The first regatta between Harvard and Yale began largely as a scheme to help publicize a newly built railroad. Yale oarsman James Whiton came up with the idea for the regatta and worked with James N. Elkins, the superintendent of the Boston, Concord and Montreal Railroad to set up the race in New Hampshire. The location would draw spectators from both the Connecticut and Massachusetts schools to take Elkins’ new railway routes. By 1852, the regatta was an annual event, pausing since then only for exceptional circumstances, like the outbreak of World War II and the onset of the coronavirus pandemic.
Big Number
$14.4 billion. That’s how much American college sports are worth, the U.S. Department of Education said last year. That figure includes revenue from broadcasting rights, merchandise and ticket sales.
Tangent
The oars could attract potential buyers in the form of both Yale and Harvard alumni, or just fans of rowing, Austin told Forbes. “I'd like them to be where someone can see where people can see them and enjoy them,” he said.
What To Watch For
The next Harvard-Yale Regatta will be held June 11, marking the first race since 2019. The race was canceled the following two years due to the pandemic.
Further Reading
Jersey Maradona Wore During ‘Hand Of God’ Goal Heads To Auction (Forbes)
Kobe Bryant’s Shirt He Wore Before Record 81-Point Game Up For Auction (Forbes)
Sotheby’s Auctions Rare Michael Jordan Nike Sneakers For $1.5 Million (Forbes)
Record-Breaking Sneakers: Michael Jordan’s Shoes Sell For $615,000 (Forbes)
Most Expensive Basketball Card Ever: LeBron James Rookie Card Sells For $5.2 Million (Forbes)
