Jacket owned by Masters winner sells for $6..

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Augusta, Ga. • A green jacket owned by the golfer who won the inaugural Masters Tournament in Augusta in 1934 has sold at auction for nearly $700,000.

The jacket was given to Horton Smith, who won the tournament again in 1936.

The jacket sold at an auction Sunday for $682,229.45, The Augusta Chronicle reported.

The jacket was sold by Green Jacket Auctions of Denville, N.J. The winning bidder was not identified.

Smith's jacket, a 43 long, was presumed to be lost, but last month the auction house was contacted by one of Smith's relatives. The green jacket had been hanging in a closet for decades.

Augusta National Golf Club first awarded the green jacket to Masters champions in 1949, beginning with Sam Snead. At the same time, the club retroactively awarded jackets to the nine former Masters champs that had won the tournament from 1934-1948, including Smith.

Jacket owned by Masters winner sells for $682,229