Arnold Palmer's '58 Masters shoes sell for $66,000 at auction

A pair of shoes Arnold Palmer wore in winning the 1958 Masters has sold at auction for $66,000, with the winning bid settled on Saturday in the auction conducted by Texas-based firm Heritage Auctions.

Palmer wore a pair of FootJoy wingtips for that win, the first of four consecutive Masters wins in even-numbered years, and eventually gave the shoes to one of his pilots. Palmer signed the shoes in 2004.

The original estimate placed the value of the shoes at $15,000, so the $66,000 sales price is somewhat shocking, despite the value of Palmer memorabilia increasing substantially after his death last September at the age of 87.

Another Palmer item sold for dramatically more than expected. An original 1974 LeRoy Neiman painting of Palmer by sold for $144,000 in the auction, $44,000 more than the estimated price.

Ryan Ballengee is a Yahoo Sports contributor. Find him on Facebook and Twitter.