Babe Ruth's 500th homer bat sells for more than $1 million

Babe Ruth has hit another one out of the ballpark. The bat used by the legendary baseball player to hit his 500th home run was auctioned on Saturday for more than $1 million. SCP Auctions didn't identify the buyer. The auction was held in Laguna Niguel. Ruth hit his 500th homer on Aug. 11, 1929 in a game against the Cleveland Indians. He was the first of 27 Major League Baseball players to reach that mark.  Ruth gave the autographed bat to his friend Jim Rice, and it's been in the family for nearly 75 years.