Tim Brown's 1987 Heisman Trophy auctioned off for record price

The 1987 Heisman Trophy awarded to former Notre Dame wide receiver Tim Brown fetched $435,763 at auction over the weekend.

The price set a new record at auction for a Heisman, surpassing the $399,608 paid for Rashaan Salaam's trophy in 2017.

Brown's trophy was obtained by Goldin Auctions after he sold it in a private sale last year. As noted by former ESPN sports business reporter Darren Rovell, Brown was able to do so because Heisman winners weren't required to sign a no-sell waiver until 1999.

"We believe this is one of the most significant trophies to ever be offered at auction and collectors agreed as the bidding was fierce," Goldin Auctions founder Ken Goldin told Rich Mueller of Sports Collectors Daily. "It's rare when a Heisman becomes available and even more unusual for it to be from an NFL Hall of Famer who played at the most storied college football program."