Ali's 'Fight of the Century' gloves sell for almost $400,000 at auction

The gloves that boxing great Muhammad Ali wore in his legendary 1971 fight against Joe Frazier in what became known as the Fight of the Century sold at auction on Thursday for almost $400,000.

An anonymous bidder bought the gloves for $388,375 at the auction run by Texas-based Heritage Auctions at the National Sports Collectors Convention in Cleveland. Heritage previously auctioned a set of gloves Ali wore to claim his first World Championship in 1964 for $836,500.

The Fight of the Century, in New York's Madison Square Garden, was the first of three fights between Ali and Frazier during the 1970s.