A baseball bat belonging to Yankees star Lou Gehrig has sold for a world record $436,970 at Love of the Game Auctions in New Jersey.

The lot beat the previous record by 8.4%, held by the bat Gehrig used to hit his final home run, in 1939. It sold for $403,000 in 2011.

Lou Gehrig was nicknamed the Iron Horse for his dependability

Gehrig can be seen holding the present bat in a photograph taken during the 1930 season, when he was at the height of his game.

Auctioneer Al Crisafulli explained: "This bat was given to the consignor decades ago by a family member of a former Yankee Stadium groundskeeper.

"Though the consignor is a Yankee fan, the family is not a baseball family, and without knowledge of the bat's value it was kept behind the front door for protection - for 30 years.

"Really, it is amazing that this outstanding piece of memorabilia made it this far, and its history certainly adds color to the story."

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