[Masters] The History of the 'Green Jacket'... How Much Is It Worth in Money?

Published 05 Apr.2022 12:21(KST)

Jones, Founder of the Masters, Created for Members in 1937; Snead's First Appearance When Winning in 1949; Original Champion Smith's Green Jacket Worth '830 Million Won'

The 1934 Masters inaugural champion Horton Smith's 'Green Jacket' was sold for $682,000.

[Asia Economy Kim Hyun-jun, Golf Specialist Reporter] ‘$682,000 (830 million KRW)’.

This is the price converted into money for the Masters symbol, the ‘Green Jacket’. The first champion in 1934, Horton Smith, is the owner. It set the highest price related to golf equipment at an auction in 2013. After disappearing for decades, it reappeared with a story that a relative had kept it in a closet. Since 1993, a clubhouse-shaped trophy has also been given upon the champion's request. The Arnold Palmer trophy, who passed away in September 2016, was sold for $444,000 (540 million KRW).

The origin comes from ‘The King of Golf’ Bobby Jones, who was inspired by the red jackets of captains when he visited Royal Liverpool in England and made it for Augusta National members in 1937. Members keep it in their lockers and wear it only at the golf course. Initially, it was used to distinguish between the organizers and the gallery. It first appeared during Sam Snead’s victory in 1949, and jackets were sent to champions before 1948 for collection. Since then, a unique tradition has developed where the previous year’s champion dresses the new winner.

Tiger Woods wore his fifth Green Jacket by winning the Masters in 2019.

‘Masters hero’ Jack Nicklaus wore it alone after achieving back-to-back wins in 1966 following some hesitation. He owns six jackets from his wins in 1963, 1965-1966 (back-to-back), 1972, 1975, and 1986. Tiger Woods (both from the USA) reached the ‘5-win milestone’ in 2019. During the back-to-back wins of Nick Faldo (England, 1989-1990) and Woods (2001-2002), the Augusta National chairman assisted. The jacket is kept for one year and then returned the following year to be permanently displayed in the ‘Champions Locker Room’.

There is a special guideline asking, "Please avoid wearing it in crowded places such as restaurants and movie theaters." However, players freely enjoy wearing the ‘Green Jacket’ while going around various places. 2010 champion Phil Mickelson visited a donut shop, 2014’s Bubba Watson went to a waffle shop, and in 2018, Patrick Reed (all from the USA) caused a stir by ordering a hamburger at the Chick-fil-A Woodland, Texas fast-food outlet in 2019.

The ‘Green Jacket’ has been exclusively supplied by the Hamilton Tailoring company in Ohio, USA since 1967. The design remains the same as the old style with three buttons. After the third round, several jackets are prepared to fit the body types of players in contention, sent to the final round awards ceremony, and later, exact measurements are taken to complete a tailored jacket. Interestingly, the original material is Australian wool, and the cost price is only $250 (310,000 KRW).