Original drawing of Olympic rings sells for 185,000 euros

An original drawing of the Olympic rings by the founder of the modern Games, Pierre de Coubertin, has fetched 185,000 euros (168,642.59 pounds) at auction in Cannes, the auction house said.

"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 over $8 million at an auction in New York City in December last year.