After a frenzy of last-minute bidding, a Laguna Niguel auction house announced that it sold a gold medal awarded to Jesse Owens at the 1936 Berlin Olympics for a record $1.466 million early Sunday.

The price beats the previous Olympic memorabilia record of $865,000, paid last year for a silver cup won in the 1896 Olympic marathon. It also smashes the previous highest price paid for an Olympic medal: Mark Wells’ gold from the 1980 ice hockey team sold for $310,700 in 2010.