Monday, 21 May 2012:

A baseball jersey worn by the legendary Babe Ruth has sold for more than $US4,415,658 ($A4.5 million), a record for any item of sports memorabilia, according to the buyer and seller.

SCP Auctions says the circa 1920 New York Yankees uniform top is the earliest known jersey worn by The Bambino and they sold it at the company's auction which ended on Sunday. They say the price broke the previous record of $US4,338,500 ($A4.42 million) set in 2010 for James Naismith's founding rules of basketball.

Lelands.com says it submitted the winning bid for Ruth's jersey, which had been displayed for years at The Babe Ruth Birthplace Museum in Baltimore.

Suzan French, a spokeswoman for Lelands.com, says the company plans to sell the jersey privately rather than re-auction it.

"Such a spectacular piece will find a home with one of our private clients who truly appreciates its historic significance," Lelands.com president Michael Heffner said in a statement.

Ruth retired in 1935 with 714 home runs, the major league record for almost 40 years. Hank Aaron broke that mark and then was passed by Barry Bonds, who finished with 762.

In addition, Ruth's 1934 New York Yankees cap that was owned by former major league pitcher David Wells sold for $US537,278 ($A548,000) at auction.

The colourful Wells bought the cap for about $US30,000 ($A30,600) from a collector and famously paid homage to his idol by wearing it on the mound with the Yankees during a game on June 28, 1997.

AAP