[ thunder rumbles ] [ bird caws ] im jamie colby in tucson, arizona. Wagon trains used to pass right through here on their way to california during the gold rush, and one of the roughandready pioneers who helped settle this area left behind a very strange inheritance. Im here to get the skinny on it. My names jock taylor. In 2009, i inherited a wooden trunk full of family heirlooms going back more than a century. Now im told i could pocket a small fortune. I meet jock, a 60yearold electrical engineer, at his home here in tucson. Hi, im jamie. Im jock. I heard you have something very unusual from your greatgreat grandfather. I certainly do. Come on in. Jock shows me that inheritance an old trunk thats been passed down through the family for more than a century. The trunk contained the family bible, a very ornate saddle blanket, a pair of old jeans jeans . Who keeps jeans . Theyve been in the trunk for so long, i dont think that my mother really knew what else to do with them. According to family lore, all the items in the trunk, including the jeans, once belonged to this man, jocks greatgreat grandfather, Solomon Warner, one of tucsons original pioneers. Very distinguished. Old solomons story, and the story of those dungarees, begins far from tucson in upstate new york, where hes born in 1811. As a young man, he heads west, in search of adventure and wealth. A lot of farm boys or smalltown boys in new york couldnt wait to get away from home. Jim turner has written several books on the history of arizona and its important pioneers like Solomon Warner. He worked on steamboats in the 1830s, and then he went to the gold rush. After that, he went to south america, looking for gold there. But the gold thing doesnt pan out. Solomon returns to america in 1853, still searching for a way to strike it rich. The following year, the United States completes the Gadsden Purchase from mexico, adding nearly 30,000 square miles, including tucson, along our southern border. Solomon sees a new frontier to be conquered. What makes pioneer status . The willing to risk. Theres a saying, the cowards didnt come, and so you had to be brave to come out to the frontier. A big, powerful man, 61 2 tall, solomon hauls 13 mules loaded with merchandise into the New Territory and opens a general store in tucson, then just a small town of less than 1,000 people. He was the first to sell American Goods in tucson. Who were his customers . The butterfield stage came through tucson, and whatever you wanted, you had to buy it from Solomon Warner. As the town grows, so do warners riches, but his business interests are interrupted when civil war breaks out in 1861. Tucson was under the confederacy and captain Sherod Hunter asked all of the citizens to swear an oath to the confederacy. What about Solomon Warner . Was he game . He wouldnt do it, and when he wouldnt do it, they confiscated all of his goods. Solomon retreats to mexico, then returns to tucson after the war to reclaim his store. But another kind of bloodshed breaks out along his trade routes. This is, after all, the wild, wild west. Was that an easy thing to do in those days, getting goods back and forth . It was dangerous. Several times, he had been shot by arrows from indians when he was bringing dry goods back and forth. Sounds like a hollywood character in the making. It was amazing that not only did he survive apache attacks, he lived to be 89. When solomon dies in 1899, tucsons in mourning. There was a great ceremony because he was a revered citizen at that time. After solomons death, his son, john, packs up some of his fathers belongings into a trunk that bears the family name, and over the years, the cedar chest gets handed down through the generations. John Solomon Warner, when he passed away, it went to his only daughter, josefina, and then everything that she had went to my mother, elva. Why has the family held on to it . Its an heirloom. My mother always used it for storing ancient family relics. She was very proud of it. The trunk stays in elvas living room until she passes away in 2009. Then her son jock, one of four heirs, moves the crate to his home and takes an inventory of its contents, including those old blue jeans. Whatd they look like . They were very weird jeans. They didnt have belt loops, and they only had one pocket on the back. They looked like a pair of old blue jeans that had been washed once and then folded and put away. Werent they worn out . They are in likenew condition. Like brandnew . Like brandnew. And on the back of those spotless jeans, a famous marking. They had the leather patch on the back that said levis on them. Thats right levis, the most iconic blue jeans of all time. Did you just take the jeans out of the trunk and try them on . Actually, theyre way too big for me. They come up almost to my chest. Jock assumes jeans that big probably belonged to old solomon. But he cant say for sure what went into and came out of that chest in the 110 years since his greatgreat grandpas death. Any proof of purchase . Not that i know of. A picture of him wearing them . No. You sure its not just family lore . I dont know. What could they be worth . A bundle, says this prospector, who actually mines for ancient blue jeans. True vintage denim can be worth thousands of dollars. For a reason you might not expect. All the earlier jeans that they had went up in smoke. Thats next. But first, our strange inheritance quiz question. The answer after the break. Door] [ wind howls ] so, whats the bestselling bluejean brand after levis . Its a, wrangler. The original cowboy brand has been outfitting rodeo stars and stars on rodeo drive since 1904. In 2009, jock taylor inherits a wooden trunk thats been in the family for over a century. It was purchased by his greatgreat grandfather, Solomon Warner, who founded the First American store here in tucson back in 1853. He had that pioneer spirit. He saw the opportunity here, and he could see that the city had potential to grow. Inside that trunk is a pair of vintage levis blue jeans. So, they were pretty ratty . No, they actually were very wellpreserved. Its cedar, and it protected the jeans very well. If theyre indeed solomons from way back when, the jeans are also a remarkably wellpreserved relic of a completely different pioneer success story. Mike harris, author of jeans of the old west, knows all about that. How did this whole levi boom start . Well, in 1870, jacob davis, who was a tailor in reno, nevada, he was approached by a woman who was married to a woodcutter. Turns out that her woodcutter husband constantly rips through his pants pocket. Its a common problem. Whether concealing a pistol or hauling heavy gold nuggets, the weak pockets just cant handle the stress. So jacob davis gets the idea. He saw the rivets on his workbench, and he decided to put those in the pocket corners. Adding rivets to pockets its one of those seatofthepants innovations that make america great. The result . Stronger dungarees that can stand up to the tough work thrown at them by the miners and laborers of the day. And after about a year, he was getting so many orders, he couldnt fill them. Davis, who needs capital and manpower, goes into business with wealthy San Francisco merchant levi strauss. On may 20, 1873, american blue jeans are born. A pair costs about a buck. Levis markets their denim overalls as the uniform of the working class. Who bought them at the time . Miners in the west, farmers, mechanics anybody that did hard labor would have bought levis back then. Thats because workers love how tough and durable the pants are, as this pair from 1890 proves. From the 1800s . I mean, they feel like they could be right now. They really could withstand a lot. Absolutely. So it was all about strength . It was all about strength. Now, heres something really important to remember in this strange inheritance tale. In 1906, the epic San Francisco earthquake devastates the levis headquarters. Their building, it was completely leveled. Along with all of levis records and inventory. The first 30 years of the companys history gone. Of course, for the next century and more, the company thrives. Indeed, the pants it manufactures become an american icon. Think about it. Is there anything the world loves more about america than blue jeans . Theyre right up there with blockbuster movies, fastfood burgers, and rock n roll. So you probably arent surprised theres a demand for vintage jeans. But i bet you would be surprised how far some people will go to meet that demand. True vintage denim can be worth thousands of dollars, and finding any levis pre1900 is a massive rarity. Thats the holy grail. Thats what were all looking for. Brit eaton is a modernday prospector who scours old west barns, ghost towns, and mining sites not for precious metals, but antique overalls. My gold is what the gold miners were wearing while they were seeking their gold. In order to be a great denim hunter, you have to be ruthless, relentless, and rugged. Ive rappelled into pits, ive killed rattlesnakes to get by. There are so many potential dangers. Exploring abandoned mineshafts can be treacherous, but often worth the risk. Finding things in mines is the equivalent of biggame hunting. You find a time capsule just sitting there in the middle of nowhere. The feeling of seeking something is a true american sort of pioneer feeling. Youre literally filling a gap in in history. And thats a good way to pose the question facing our heir, jock taylor. Does his strange inheritance fill a gap in history, or are they closer to the jeans that fill the gap at the mall . They were in such great shape that i thought, why are they showing me new jeans . Stay tuned for p. S. I. Pants seam investigation next. Heres another quiz question for you. The answer when we return. [ wind howls ] so, who said, i had holes in my jeans well before it was fashionable . Its b, kenny rogers, who knew when to fold them. A cedar box inherited by jock taylor of tucson, arizona, contains a cache of old family heirlooms that he assumes have been sitting in the trunk since his greatgreat grandfather Solomon Warner passed away in 1899. Including this curious item a pair of seemingly neverworn levis jeans. How many years do you think those jeans may have been in that trunk . In excess of 110 years. So jock and his wife, pat, take the levis to a traveling appraisal show here in town with high expectations. They walk up to the table of daniel buck soules, owner of daniel buck auctions. They had a pillowcase, and i had no idea what they had. And when they pulled out these jeans, they were in such great shape that i thought, why are they showing me new jeans . So, you were suspicious at first . Oh, absolutely. But it wasnt until i really started looking at them that i went, okay, these are a little bit better than i think they are. Just how much better . Daniels detective work begins with the obvious these belong in the bigandtall department waist, 44, length, 37. He had to be 66, 68. He was a mountain of a man. Next, he examines the leather tag. Does this identify the jean in some way . It does. They started adding this around 1886, but they still use that. Even to today, its still there. That sets the base. The jeans are no older than 1886, but they could have been made any time after that. So daniel turns his attention to those famous pocket rivets. One of the problems they actually had was the placement of the rivets. If you were a cowboy and on a saddle, the outside rivets would wear on saddles. What you find is they had to cover these with cloth at one point. Those covered rivets first appear in 1937, but jocks are exposed, meaning the overalls are at least older than world war ii. Daniel searches the waistline for more clues. Theres no belt loops. Theres no belt loops because of the fact at this time, they only had suspenders, and it wasnt until 1922 that they actually added the belt loops. Were back to the roaring twenties, and the pockets reveal one more thread to the story. When levis first started manufacturing jeans, you had the two front pockets and the single back pocket, and this other pocket, which is for change or a pocket watch. And it wasnt until around 1901 they added the fifth pocket in the back. Which is missing on jocks jeans. So now weve narrowed it down to that 15year window between 86 and 01. Finally, daniel spots a stamp on the inside of the pocket that helps age the overalls all the way to 1893. Jeans historian mike harris is amazed. How unique is this pair . To find an 1893 pair of levi very scarce. This could be one of two examples known, so its very rare. If one shows up, then its quite valuable. And to find an 1893 pair inperfectcondition . Unheard of. So how much cash could jock expect for his strange inheritance . Size really does matter when it comes to vintage levis. Find out next. Whats your strange inheritance story . Wed love to tell it. Send me an email or go to our website, strangeinheritance. Com. Now back to strange inheritance. Jock taylor is one of four heirs to inherit this pair of antique levis jeans, authenticated by Daniel Soules to be from 1893. So, what are they worth . 10,000 . Keep going. 20,000 . And more. The reasons not just that there are vintage bluejean collectors around the world. Its also because of the levistrauss company itself, whose headquarters were destroyed in the 1906 San Francisco earthquake, along with the archives of their early denim. Are they trying to get these historic jeans back . They actually are. So when a good pair of jeans do come on the market, they are out there trying to purchase them. The last pair of blue jeans that sold from the 1880s, its my understanding that levis paid six figures for them. A hundred thou for an old pair of jeans . Jock reaches out to levis. They said that they were probably the oldest unworn pair of levis they had ever seen. And jock says they offer him 50,000 for them. Its a lot of dough, but the familys expecting more. They discuss it, then turn down the offer. If levi strauss is valuing a rippedup, torn pair thats maybe a year or two older at 100,000, i would think that a pair thats never been worn from the same era would be at least worth that much. So jock tells auctioneer Daniel Soules to set a date to sell greatgreat grandpas pants to the highest bidder. Its a risk, thats true, but when you consider that its the only unworn pair of blue jeans of that era, i think, yeah, its a oneofakind item. I think the most they could possibly get from a collector is 40,000. Denim hunter brit eaton believes jock and his family are thinking too big for their britches. The vintage denim market is incredibly volatile. I think if levi strauss is willing to pay 50,000 for them, take the money and run. Is he right . November 5, 2016 is the date were to find out. Then, just before the levis go up on the block, daniel postpones the sale due to technical glitches. A few days later, hes talking to a buyer from japan, but the jeans are not a good fit. At 44 waist and 37 length, the jeans were too big for them. They were planning on purchasing them to wear. So that deal fell through. It was very depressing. Size really does matter when it comes to vintage levis. If its either too little or too big, its going to be harder to establish a value, or just not as valuable. Levis would not comment on any negotiations with jock, but we do know he has at least one sizable offer very much on the table. Theres absolutely a market for jocks levis. I personally would be willing to pay 35,000 for them. Ill make that mark in blood right now if you want. What would ol Solomon Warner do . Jocks pretty sure his greatgreat granddaddy would tell him to sit tight. Hes positive the frontier merchant is somewhere off in the sunset, grinning. For him to know that his jeans that he left after his passing were worth 50,000, i think he would think the world has gone crazy. Now, thats some tailormade close from an heir not only left big shoes to fill, but a big pair of pants to boot. Everybody has a pair of their favorite supercomfortable, wornout jeans, right . These are mine. I cant believe im wearing them on a shoot, but i wonder what old levi strauss would think of Clothing Stores selling preripped denim, often at two or three times the cost of a pristine pair. Whats up with kids these days too lazy to wear out their own jeans . Im jamie colby. Thanks for watching strange inheritance. And remember you cant take it with you. [ cheering ] the original hoop dream. These really are the rules here 1891, James Naismith. Granddads signature. Incredible. One familys heirloom. You think your greatgrandfather could ever envision that the game he developed could be what it is today . Goes on one wild ride. He starts looking around and thinks, oh, my goodness. Where are the rules . No. Its a National Treasure with a big price tag. You paid more than the emancipation proclamation. Yeah, well. [ door creaks ] [ wind howls ] [ thunder rumbles ] [ bird caws ] im jamie colby, and today im on the road in lawrence, kansas, on my way to the university of kansas home of the jayhawks, one of the most storied teams in all of basketball. Now, kansas is actually not where the tale of this strange inheritance begins, but through a turn of events, it does wind up here. In 1939, my grandfather, dr. James naismith passed away and left us an artifact that dates back to 1891. He was my greatgrandfather, and what he left us was the magna carta of basketball. Naismiths. Jamie. Im jim. Good to meet you. Hi, jim. How are you . Jamie, im sean naismith. Great to meet you both. Likewise. I am interested to hear about your strange inheritance. Im awfully curious what the connection is to k. U. Wed love to show you. My greatgrandfather, dr. James naismith, started the first basketball teams here at k. U. [ whistle blows ] but time out lets reset the clock. The boy who would grow up to invent basketball, James Naismith, is born in ontario, canada, in 1861. At age 9, he and his brother and sister are orphaned when both their parents die of typhoid fever. The three kids were left with a bachelor uncle. Now, that is not the softest person to be raising three kids on a farm. I know for sure that he just deeply missed his mother. James drops out of school at the age of 15 to work in a lumber mill. By 19, hes working hard and drinking harder. He was in the bar drinking too much, and there was an older man down at the end of the bar and said, are you Margaret Youngs son . And he said, i am. The response was, shed roll over in her grave if she saw you now. He made a decision to go back to high school at the age of 20. And after that to mcgill university. James letters in rugby and soccer while earning degrees in physical education and theology. Its just the resume one employer is looking for. He talked to some people that encouraged him to take a look and see what the ymca is up to. The y . Ymca, yeah young mens christian association. At the time, legions of young men are leaving farm country for cities. Theyre rowdy and unchaperoned. Jumping into the breach, the ymca, founded on the principle of muscular christianity. Its mission to promote clean Christian Living through athletics. The thought was we can teach more through athletics than we can from the pulpit. James pulpit becomes the ymca Training Center in springfield, massachusetts. In december 1891, hes tasked with creating an indoor activity for a group of young men during the winter. So, he dreams this game up . He had to start from scratch, and thats when the thinking started. The light bulb goes on one night, and hes ready to start the next morning. Evidently, he asked the Maintenance Man there, i need a box you know, something you can put a ball in. And he came back and said, i cant find any boxes. I got a couple of peach baskets. Oh, my for peaches. James hangs one up at each end of the gym, 10 feet high only because thats where he could get the nails in. He picked up a soccer ball because it was big enough where you had to hold it out. You couldnt hide it. The arched shot came from the little game of duck on a rock, a kids game in canada. Then, he calls the boys in. He describes the first game. He said, i had multiple black eyes, a dislocated shoulder, one guy completely knocked out. But the new games a big hit. His young men begged to play again, so james tries to civilize it a bit. He types of 13 basic rules and tacks them to a board in the gym. If basketball is your religion, these are the tablets moses brought down from the mountain. Do you have a copy of those . Ive got them in here. So, let me just take a look. Basketball he has basket ball. Yeah. Two words. Yeah. Evidently, somebody suggested naismith ball, and he said, i dont think thatll work. A month later, in january 1892, naismiths basketball rules are publish in the Springfield College newspaper. Rule 1 says, the ball may be thrown in any direction with one or both hands. And the game is supposed to be noncontact. Theres no shouldering, holding, pushing, tripping, or striking. Hey, coach. Im jamie. Hi, jamie. How are you . I asked some Young Players from the mokan Basketball Program in kansas city to demonstrate for you how todays hoops differ from the original game. So, coach, the naismith version of basketball has 13 rules. Now you have 150 pages of rules in the nba. What are the big differences . The big difference is rule 3. Back in the olden days, you had to actually pass the ball, and right where you catch it, you had to stop right there. So now the guys can actually dribble and go places. I dont know no dribbling . You instructed the guys to give us a little demonstration of how its done. Go right ahead. [ whistle blows ] thats right. Im calling the shots. [ buzzer ] [ bell dings ] at this point, they cant dribble the ball at all. They just have to move and pass. Teamworks coming into play now. [ bell dings ] the games a little bit slower, a little bit harder to get up and down the floor. Right. Nicely done. Do you ever think that basketball went in a direction that is different than what it was originally intended . I think its better now, and its more entertaining. You think your greatgrandfather could ever envision that the game he developed could be what it is today . He saw it change a lot in his lifetime. You know, many rules come into the game some he was happy about, some he wasnt so happy about. What was his vision . Was it just about an athletic sport, or more . He said building character was something that he strove for, along with athleticism. Building character through athletics james really spreads that gospel. When after marrying and earning his md, he joins the university of kansas as chaplain and p. E. Instructor. Its 1898. His first move start a College Hoops team. Soon, basketball is played at schools across the u. S. And by newly formed professional teams. Naismith even sees his game go global, thanks to the ymcas christian missionaries who teach it overseas. Your grandfather must have been a very wealthy man. Wrong. [ laughs ] wait, look at where basketball is today. Multimilliondollar contracts, endorsements, and the merchandising. Didnt he ever protect his ownership . No, he characterized the game as a gift. But even a christian can make a buck. Well, thats true, but what was his bottom line . Make the world a better place for having been here. Dr. Naismith said, its hard to describe to anybody the feeling i get when im in a foreign country and i see on some back road a basketball hoop nailed up to a tree. That means more to me than 1 million dollars. Which brings us back to those original rules he wrote in 1891. What did james do with them . He was a woodworker, and he actually built a sideboard, and he kept a little secret compartment that the rules were kept in for many years. Seems he always knew he was onto something. So does his youngest son, James Naismith jr. In 1931, he gets his aging father to authenticate his 13 rules with a signature. This says, first draft of basketball rules, hung in the gym that the boys might learn the rules. Mmhmm. When james dies in 1939, that original statement of the rules passes to james jr. , jims father. A nailbiting ride is about to begin. Did he carry it around, the original . He carried around the original rules. He had it insured, though. He did not have it insured. Thats next. But first, our strange inheritance quiz question. The answer after the break. When you have a really traumatic injury, we have a short amount of time to get our patient to the hospital with good results. We call that, the golden hour. 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Harriet, its a double stitch not a cross stitch build a better website in under an hour. Free to try. No credit card required. Gocentral from godaddy. Its b, moses malone, in the 197879 season for the houston rockets. He was paid exactly 1 million. When dr. James naismith dies in 1939, he leaves his son james jr. A strange inheritance, two typewritten pages outlining his invention basketball. Almost immediately, the game explodes into a worldwide phenomenon. By 1959, theyre even building a hall of fame in basketballs birthplace springfield, massachusetts. James naismith is not only the first inductee. The place is named after him. His son loans the museum the rules. The goal is to display them, show the world. By the time James Naismith jr. Dies in 1980, his heirs are not pleased with the hall of fame. I went to school in upstate new york, so i stick my head in the door. Hi, there, im jim naismith. Id like to see the rules. And they would find them in the safe. In the safe . In the safe. Not displayed . No, the hall of fame apparently didnt really know what to do with them or what really needed to be done. Jims brother, 42yearold ian naismith, isnt just dismayed with the hall but with the game itself. For while many think basketball is enjoying a golden age bird, jordan, magic, the dream team ian sees a sport that has strayed far from their grandfathers original vision. He wasnt very happy with the state that basketball was in at the time. Whats his beef with it . If you recall in the 90s, there were fights on the court, there were fights with fans. He felt it was time to remind the world that the game was a gift. Underscoring ians sense that basketball has forgotten its roots, the hall of fame building falls into disrepair and ian fears that when its renovated, the building will no longer prominently feature his grandfathers name. He got upset and told them that hes gonna climb up there himself and spraypaint in orange letters. The new building does keep the naismith name, but ian convinces the hall of fame to return the neglected rules to the family. He wants to reform the sport and has a plan to call attention to his cause. In 1995, he hits the road in this rv with his strange inheritance. Whats a better attraction than the original 13 rules of basketball from 1891 . Did he carry it around, the original . He carried around the original rules. It was in a gold briefcase. It was fireproofed, between two plates of glass. But its in a briefcase. Ian brings the family heirloom to schools and gives lectures on his grandfathers original hoop dream. People say, well, naismith, you want everything to stay the same. Nothing stays the same. Sportsmanship, respect, dignity, positive role modeling, and teamwork can stay the same. And should. Ian travels the rules to big games, like the final four and the nba all stars. Did your dad ever have them appraised . He did. They appraised at approximately 5 million. Hes driving around with a 5 millionappraised document. He had it insured, though. He did not have it insured. That premium would have been about 50,000 a year. So you can imagine ians horror on a trip to kansas city. He starts looking around and thinks, oh, my goodness. Where are the rules . Youre kidding. Thats next. Heres another quiz question for you. The answer when we return. The answer is c. They banned the dunk shot. After lew alcindor, later known as kareem abduljabbar, dominated the season, the ban was rescinded in 1976. In 2002, ian naismith, grandson of dr. James naismith, the inventor of basketball, is on a mission to preserve the games true legacy in the face of what he sees as its ongoing decline. One of the 12 values that dr. Naismith saw in the game was sportsmanship. And my dad felt that was the one thing that was really lacking at that time in the game. He spent almost a decade traveling the thirteen original rules, which have been appraised at 5 million, to schools and sporting events. Touring the country with a document worth 5 million with no insurance in a gold briefcase he was a very risktolerant person. Just outside lawrence, kansas, ian realizes the rules have gone missing. He finished up a meal, got in his van, and when he gets to lawrence, he starts looking around and thinks, oh, my goodness. Where are the rules . No. He called his waitress, who gets on the phone and says, mr. Naismith, i can guarantee you 100 that i saw you walk out with those rules. And he goes back out to his conversion van and starts tearing it apart. Luckily, they were actually in the van. That was a close call. It was a very close call. The scare helps the family realize they cant keep their strange inheritance forever. My brother did talk to me and he said, in order to properly value and protect, they may have to eventually be sold. And he and i agreed on that. Ian contacts leila dunbar, thendirector of collectibles at sothebys auction house in new york. Her first step make sure the rules are the real thing. The rules scored a 10 10 because they had come down from dr. Naismith to his son to ian naismith. Having his signature on it added another layer of documentation and i think added value to it. So, what is it worth . At the time, the priciest sports document is the contract that sent babe ruth to the yankees from the red sox in 1919. In 2005, it sold for 996,000. Sothebys believes the naismith rules will fetch more. If youre a basketball fan, you could certainly consider them the magna carta of basketball. They set the minimum bid at 1. 3 million. Thats less than the 5 million the rules were once appraised for. The proof will be in the bidding. Its like a horse race. You just dont know how its going to end. Or where theyll end up. Jim, its like fort knox here. [ laughs ] next. Whats your strange inheritance story . Wed love to tell it. Send me an email or go to our website strangeinheritance. Com. Now back to strange inheritance. Its december 2010 in new york city. The heirs of James Naismith, the man who invented basketball, are ready to sell the original set of rules that naismith posted in a ymca gym back in 1891. The famed sothebys auction house has set the minimum bid at 1. 3 million. The auction generated a tremendous amount of excitement. Unbeknownst to the naismith clan, a lawrence, kansas, native and k. U. Grad turned texas billionaire named david booth is one of the bidders. I was born in lawrence. I grew up naismith drive. Now hes in the game via telephone from austin, texas. This was a highly unprecedented auction. You had Bobby Kennedys original copy of the emancipation proclamation. You had the only known flag that survived custers last stand at little bighorn, and then you had the rules. Talk about competition. The flag from little bighorn sells for 2. 2 million. The emancipation proclamation beats that easily 3. 7 million. You could feel the tension building throughout the other two sales. The comes harlem globetrotter curly neal to introduce the basketball rules. The bidding races to 3 million. Its a jump ball between david booth and one other phone bidder. Did you know who it was . I didnt at the time, but it turns out its a good friend of mine david rubenstein. Rubenstein, also a billionaire, once purchased a 13th century copy of the actual magna carta for more than 20 million. About 3. 2 million, you could feel mr. Rubenstein starting to slow down. He had to think about each bid more carefully. And then, the final bid. On my left, 3,800,000. Sold to david booth you paid more than the emancipation proclamation. Yeah, well, thats because theres only one original rules, and the emancipation proclamation, i think, had about a dozen. With the auction House Commission added in, the price comes to 4. 3 million, the most ever paid at auction to date for any sports memorabilia. For the heirs of James Naismith, the man who invented a game that grew into a multibilliondollar worldwide phenomenon, its a long overdue payday. Wait stop the clock yes, theres but seconds left in this strange inheritance tale, but still time for one last twist. Turns out, the naismiths dont cash in. They donate their millions from the sale to a charity that helps poor kids with food, clothes, and basketball courts. It was founded by ian naismith, who dies two years after the auction at the age of 73. Really good things can be done with money, but granddads focus was people. And high bidder david booth has a surprise, too. He donates the rules to his alma mater and James Naismiths old employer, the university of kansas. Jim, its like fort knox here. [ laughs ] theyre keeping it under lock and key, and i can only open it for a few minutes, im told. Its been a long time since youve saw them. Its been a long time. Thats it. Wow. Its very emotional. It is emotional. I see here 1891. James naismith. Granddads signature. And what is your greatgrandfather saying, knowing that theyve come full circle and theyre back here . Oh, hes cheering somewhere. [ cheering ] speaking of goals, one of the quirks of the original game of basketball was that the baskets had no holes in the bottom. So every time somebody scored, you had to climb up there with a ladder and fetch the ball. This was obviously annoying, so somebody figured out a way to build a better basket. Swoosh nothing but net im jamie colby. Thanks so much for watching strange inheritance. And remember you cant take it with you. [ whistle blows ] for tax cuts and jobs back his past. We pass one of the most important tax breaks in this countrys history. We now have comprehensive tax reform, major minogue class tax relief in making our business, both large and small more competitive. Lauren breaking news overnight come in the Senate Passed a historic pass on trying tax bill 1 00 this morning. The house have to vote again and they still havent figured out how to avoid a government shut down. Train to stocks pausing after two days that the tax reform rally at the dow was down 37
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