The Heisman Trophy won by Ricky Wiliams in 1998 at Texas was sold at auction for $504,000, setting a record for college football's most recognizable award.
The winning bid for the trophy in Heritage Auctions' Fall Sports Memorabilia Collectibles offerings exceeded the previous auction record for a Heisman set when Tim Brown's 1987 trophy garnered $435,763 last December.
Williams earned the Heisman for the season he set the then-NCAA career record with 6,592 yards rushing. The mark was topped one year later by Ron Dayne.
Williams' Heisman is the last one awarded before trophy winners were required to sign an agreement forfeiting the right to sell it.
Williams was drafted No. 5 overall by New Orleans in 1999. He spent 12 seasons in the league with the Saints, Miami Dolphins and Baltimore Ravens before retiring after the 2011 season.
He finished with 10,009 yards rushing and 66 touchdowns, along with 2,606 yards receiving and eight touchdowns.
In 2006, he played in the CFL with Toronto while suspended from the NFL for violating the league's drug policy.
He was inducted into the College Football Hall of Fame in 2015.