By Paul Osborne

A commemorative ring belonging to Olympic gold medallist Rulon Gardner has sold at auction for $2,900 ©Erkelens & Olson Sales and AuctionThe commemorative ring worn by Olympic gold medallists Rulon Gin Salt Lake City.

America's Olympic Greco-Roman champion, who shocked Russia's three-time gold medallist Alexander Karelin when he won at Sydney 2000, was selling a number of his possessions at a local auction in a bid to pay off his $3.9 million (£2.4 million/€3.1 million) debt.

The commemorative ring, celebrating his gold medal in Sydney, was his highest selling item at today's auction.

Other items sold include Gardner's Olympic robe, which sold for $200 (£125/€150), and a framed "Got Milk?" ad of Gardner, which went for $140 (£90/€110).

Around 250-300 people attended the auction in Salt Lake City on Saturday ©FacebookAround 250-300 people attended the auction in Salt Lake City on Saturday ©Facebook

Around 300 people attended the Erkelens & Olson Sales and Auction with the highest selling item a 1987 Porsche, which was auctioned for a dazzling $107,000 (£66,391/€83,977), a new record for the auction house.

Sadly for Gardner, this was not part of his sale items.

It was the second bankruptcy auction that has seen items from Gardner's wrestling career appear - the first taking place in October 2012, two months after the former world champion filed for bankruptcy.

This initial auction included a Harley Davidson with a Sydney Olympic logo and signed by the grandson of Harley Davidson, and Gardner's gold and bronze medals from the Olympic Games in 2000 and Athens 2004 respectively.

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