The value of a Heisman Trophy varies. According to a news article from AntiqueWeek.com, the highest amount paid for a Heisman Trophy is $395, 240 that was sold on December 2005 by Leland's. It was owned by Bruce Smith who was a running back for the University of Minnesota. It was sold to California businessman Gary Cypres, who owns the Sports Museum of Los Angeles, a private museum of 10,000 artifacts, opened by invitation only.
Before the now-famous stiff-arm design, the Club Trophy Committee concurred that the traditional cup or bowl seemed too commonplace, lacking in distinction, and in no way emblematic of the athletic talent that was to be honored and immortalized. It was decided that the trophy would be the bronze embodiment of a muscular footballer driving for yardage.
The trophy was designed by Frank Eliscu, a well-known sculptor and National Academy of Design Prize Winner. He selected Ed Smith, a leading player on the 1934 New York University football team, as his primary model.
Made from an ancient method known as the lost wax process of bronze casting, the final incarnation of the Trophy faithfully depicts a skilled and powerful football player, sidestepping and straight-arming his way to a touchdown.
For the year 2015, the winner of The Heisman Trophy is Derrick Henry of the Alabama Crimson Tide. You can check the full story from ESPN.