This lot is closed for bidding. Bidding ended on 3/23/2018
Even though Hall of Famer Babe Ruth had compiled a body of work completely unprecedented for over a decade, people scoffed at the notion that any baseball player, even the Babe, was worth the sum of $70,000 a year in 1928. A king's ransom given the median salary of the average American was about to drop 50% due to the depression, Ruth's 1928 contract translates into just under a million dollars a year in today's economy. Though history often portrays Ruth as an intellectually challenged man-child, he was actually quite savvy in investing his money for the future. This signed 1928 contract, drafted by Way & Donley Attorneys At Law of St. Petersburg, Florida is for a purchase of an interest in a parcel of land in St. Petersburg for the sum of $32,500. Ruth was familiar with the St. Petersburg area as it was the site of spring training for the Yankees and he wanted to build a house away from the complex where he could have privacy and escape the rabid stampede of fans and reporters. The 3-page typed document goes on to outline the particulars of the agreement, with the final page signed by the seller (Duncan), the attorneys (Wray and Donley), the notary (Wray, adding that his commission expires on Aug 14, 1931), and a picture perfect, GEM MINT fountain pen signature of "The Bambino's" full name: George Herman Ruth. This is a truly spectacular and unique piece with one of the finest autographs we've ever seen! Full LOA from PSA/DNA and JSA.