Miracle on Ice memorabilia highlights sports auction

The economy may still be struggling, but you wouldn't know it by the eye-popping prices numerous pieces of sports memorabilia fetched in the first of a two-day auction in New York City.

The event, conducted by Heritage Auctions, raised well over $1 million dollars, according to a report by ESPN.com.

Among the most prized items that went to the highest bidder was the jersey worn by Mike Eruzione during the famous 1980 "Miracle On Ice" Winter Olympics win over the USSR, which fetched $657,250. Eruzione's captain's jersey was expected to go for more than $1 million, but conversely, the hockey stick Eruzione used in the game, which was expected to sell for about $30,000, instead went for $262,900.

Also fetching big prices was the jersey Eruzione won in the gold medal win over Finland ($286,800), the warmup suit worn during the gold medal awards ceremony ($26,290), gloves he wore during the Games ($53,775) and used pants ($26,680).

"There was definitely a lot of interest," said Chris Ivy, director of sports auctions for Heritage told ESPN.com. "The 'Miracle on Ice' is clearly one of those moments where you remember where you were. It transcends sports and has become part of pop culture."

A game-used goalie stick by Eruzione's teammate, goalie Jim Craig, and signed by all members of the Miracle on Ice squad sold for $32,265. Other notable sports items that garnered big prices included a $1,150 New York Yankees signing bonus check endorsed by then-17-year-old Mickey Mantle that went for $286,800; two checks that were part of the purchase price to bring Babe Ruth to the Yankees from the Boston Red Sox sold for $95,600.

Also, a 1927-28 Yankees jersey worn by Loug Gehrig fetched the biggest price of the day ($717,000), while a Gehrig came-worn cap sold for $191,200. And the famous bloody sock worn by Curt Schilling in Game 4 of the 2004 World Series sold for $92,612.

The second day of the auction is Sunday.