NCAA Football: Southern California at Texas

Sep 15, 2018; Austin, TX, USA; Texas Longhorns former running back and 1998 Heisman Trophy winner Ricky Williams signs autographs at the ESPN Heisman House at Darrell K Royal-Texas Memorial Stadium. Mandatory Credit: Kirby Lee-USA TODAY Sports

The Heisman Trophy presented to Texas running back Ricky Williams in 1998 sold at an auction for $504,000, a record for college football's most recognizable award.

Williams sold his trophy to a private collector for an unspecified amount in 2014. That collector, Brian Hobbs, opted to sell it at the annual Heritage Auctions' Fall Sports Memorabilia Collectibles event on Friday.

The winning bid eclipsed the total of $435,763 paid for Tim Brown's 1987 trophy last December.

Late Colorado running back Rashaan Salaam's Heisman Trophy sold for nearly $400,000 in an online auction in January 2018, with proceeds benefiting research into brain injuries, according to published reports.

Since Williams won the award, Heisman Trophy recipients have been required to sign an agreement that forfeits the right to sell it.

Williams spent 12 seasons in the NFL after being selected by the New Orleans Saints with the fifth overall pick in the 1999 draft. He also played with the Miami Dolphins and Baltimore Ravens.

Williams was inducted into the College Football Hall of Fame in 2015. During his trophy-winning campaign, he rushed for 2,124 yards and 27 touchdowns for the Longhorns.

-- Field Level Media