MJ's $33M contract goes to auction

— -- The Chicago Bulls' original copy of Michael Jordan's $33 million contract -- the most valuable single-season contract in NBA history -- has hit the auction block.

Even still, the contract was once obtained for a bargain. Ivy said the consignor, who prefers to remain anonymous, bought the contract as part of a charity auction in 2000 for less than $1,000.

The most valuable sports contract ever sold was Babe Ruth's 1918, $5,000 Red Sox contract, which was sold in an auction earlier this month for $1.02 million.

Last year, Heritage sold Wayne Gretzky's rookie contract with the Edmonton Oilers, a 10-year, $3 million deal that was signed on his 18th birthday. The contract itself sold for $47,800.

Factoring for inflation, Jordan's $33 million contract would be worth roughly $49 million in today's dollars.