Bidding began over the weekend at greenjacketauctions.com and the high bid is already over $60,000. The auction site specializes in golf memorabilia and has sold several rare Masters items in the past.
Bidding ends Sept. 7. If the final price does exceed $100,000, the auction house said it would be one of the highest prices ever paid for a piece of golf memorabilia.
Augusta National Golf Club first awarded the green jacket in 1949 to Sam Snead. Jackets also were given to previous winners of the tournament, including Smith, who won in 1934 and 1936.
According to the auction house, Smith’s jacket was presumed to be lost but last month greenjacketauctions.com was contacted by one of his relatives. The green jacket had been hanging in a closet for decades.