An original drawing of the Olympic rings by the founder of the modern Games, Pierre de Coubertin, has fetched $237,267 (€185,000) at auction in Cannes.
“The drawing was sold to a Brazilian collector for a price of 185,000 euros plus 27% costs, or 234,950 euros,” Alexandre Debussy, associate director of Cannes Encheres, told French media.
Coubertin created the interlocking rings, which are coloured blue, yellow, black, green and red on a white field, in 1913. They officially debuted at the 1920 Olympic Games in Antwerp.
The Olympic Manifesto, which was written by Coubertin in 1892 and led to the revival of the Olympic Games, sold for more than $US8 million (more than $11 million) at an auction in New York City in December last year.
Last December, the manifesto drawn up by Coubertin which led to the revival of the Olympic Games sold for a record $8,806,500 (£6,764,543/€7,916,191) at an auction in New York City.
The founder of the modern Olympics created the five interlocking rings in 1913 in blue, yellow, black, green and red on a white field.
It is believed he intended the rings to represent the five continents of Africa, Americas, Asia, Europe and Oceania.
He claimed the colours of the rings together with the white of the background included the colours composing every competing nation’s flag at the time.
In a survey published earlier this year the Olympic rings were voted among the top 10 most recognisable logo or symbol of all-time.
Coubertin introduced the rings in the August 1913 edition of Olympic Review.