Everything you need to know about World Series rings

Winning the World Series is no laughing matter -- players on the team that clinches victory walk away with a hefty payout, ultimate bragging rights and, of course, an ornate commemorative ring.

Ever since the New York Giants won the 1922 World Series, each player on the winning team has been gifted a ring. The piece has evolved from a comparatively simple ring with a single diamond to a lavish piece of commemorative sports memorabilia that can fetch top dollar at auction.

While each ring has a different design, they usually incorporate a large stone and the team's name and logo, and some teams choose to inscribe each player's name and number on their individual ring, not unlike a class ring. In fact, jewelers known for making class rings - like Jostens - are often called upon to design World Series rings.

Becuase the rings have to be designed and then actually made, players usually do not receive their rings until the next preseason. During a ring ceremony, the team will present rings not only to players but also to any other members of the organization chosen at their discretion. After their 2016 win, the Chicago Cubs gave away nearly 2,000 rings to everybody from team executives to scoreboard operators.

Because so many rings have been made, many teams work to keep them in the hands of their original recipients and off of the sports memorabilia market. The Cubs asked all non-players to sign an agreement giving the team the right to buy back the ring for $1, according to reporting from ESPN.

Rings that do make it to auction have been known to fetch six figures. Babe Ruth's 1927 ring sold for $2,093,927 earlier this year.
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