The original rules for the game of basketball penned by James Naismith have been put up for auction to benefit Naismith International Basketball Foundation.
According to the ESPN report, the 113 year old set of 13 rules is expected to fetch at least $2 million in the December 10th auction. The proceeds will go to the Foundation which promotes sportsmanship and benefits underprivileged kids around the world.
When you see the prices that are put on random memorabilia or on cards with no truly historical signficance the sport, we would expect that the price for this item could rise substantially higher. The one obvious hinderance here is that there is no established market for collecting the originals rules of a sport so the buyer would likely have to hold on to this piece for a long time.
