One of Arnold Palmer's Masters trophies was sold at an auction on Sunday morning for $444,012, the second highest-priced piece of golf memorabilia ever sold.

The only golf item to sell for more was Horton Smith's Masters green jacket from 1936, which went for $682,229 in 2013. Masters trophies began being offered to winners in 1993, but past champions were able to purchase them as well.

According to ESPN, three of the four trophies for Palmer's wins belonged to the four-time Masters champion, but he allowed Bay Creek Resort in Virginia, which was designed by Palmer, to purchase one to put it on display. However, the resort sold it to private collector in 2013 due to financial troubles, and it was recently put up for auction.

"Arnie did it again," Ryan Carey, co-owner of Green Jacket Auctions told ESPN. "We knew that this was a special piece, but even we were impressed by the level of interest from Arnold Palmer fans. Simply put, people love Arnold Palmer. There's a strong case to be made that Arnold Palmer is destined to become the face of the modern golf collecting hobby."

Palmer's family released a statement following the sale, hoping that the winner of the bid, who remains anonymous, will put the trophy on display -- as was originally intended when the trophy was allowed to be purchased by Bay Creek Resort -- for Palmer's fans to view.

"We hope that the winning bidder in this auction will allow the trophy to be publicly displayed so that it can be appreciated by fans of Arnold Palmer for years to come," the Palmer family said in a statement to ESPN.