Sotheby’s said the winning bid was $41 million and the final price was $43.2 million.
London: According to auction house Sotheby’s, a community-sponsored bid of crypto enthusiasts to buy a rare copy of the US constitution was unsuccessful on Thursday, after the document was published. sold to another buyer for $43.2 million, a record price for a printed text.
The identity of the bid winner was not immediately clear, nor is it clear why the crypto group, named “ConstitutionDAO” was outbid at that price, because of its crowdfunding page. they have accumulated more than 47 million dollars.
“Community: We didn’t win the bid,” ConstitutionDAO said on Twitter, promising its 17,437 contributors a refund less transaction fees. Sotheby’s says it’s the largest crowdfunding initiative ever.
The extremely rare first official printed copy of the United States Constitution, adopted by America’s founding fathers in Philadelphia in 1787, is estimated by Sotheby’s to be worth $15 million to $20 million.
It last sold for $165,000 in 1988, when it was acquired by S. Howard Goldman, a New York real estate developer and collector of autographs, documents, and manuscripts. American.
Sotheby’s said the winning bid was $41 million and the final price was $43.2 million including investment and other costs.
According to Sotheby’s, the proceeds of the sale will benefit a charity in the name of his wife, Dorothy Tapper Goldman, to improve the public’s understanding of democracy.
The ConstitutionDAO website says contributors will become members of the Decentralized Autonomous Organization, or DAO, but they themselves will not have a stake in the document.
A DAO is a type of online community that uses blockchain technology to allow members to propose and vote on decisions about how it should be run.
More than $47 million, or 11,600 crypto ether, has been paid into the project, according to crowdfunding website Juicebox.
“While we @ConstitutionDAO lost the battle, the past seven days have shown what a group of internet friends, memes and visions can achieve – auction up to her neck at the nation’s finest art house,” said Alice. Ma, one of the people behind the project, said on Twitter.
(This story has not been edited by NDTV staff and was automatically generated from the feed provided.)
