Gloves of boxing legend Muhammad Ali fetch 400,000 dollars

The gloves worn by the American former professional boxer Muhammad Ali in his 1971 'Fight of the Century' against Joe Frazier were sold for 400,000 dollars at an auction on Thursday.

The auction was run by a Texas based Heritage Auctions at the National Sports Collectors Convention in Cleveland where a bidder bought the gloves for 388,375 dollars.

According to the Tribune Express, the fight between Ali and Fraizier was the first of the three fights between them during 1970s. Frazier held the title of Heavyweight Champion of the World in 1971.

Ali and Frazier were guaranteed 2.5 million dollars in the 'Fight of the Century'.