Monday, September 26, 2022

Rare First Printing of US Constitution $43M . sold in the record

Date:

A rare first printing of the US Constitution sold at Sotheby’s in New York for $43.2 million, a record price for a document or book sold at auction.

The buyer, hedge fund manager Kenneth Griffin, will lend the document to the Crystal Bridges Museum of American Art in Bentonville, Arkansas, for public exhibition, Sotheby’s announced Friday.

Griffin, the founder and CEO of multinational hedge fund Citadel, left behind a group of 17,000 cryptocurrency enthusiasts from around the world who crowdfunded last week to try and buy it.

“The US Constitution is a sacred document that enshrines the rights of every American and all those who aspire to be,” Griffin said in a statement. “That’s why I want to make sure that this copy of our Constitution will be available to all Americans and visitors to see and appreciate in our museums and other public places.”

Olivia Walton, Chairperson of the Crystal Bridges Board, said: “We are honored to be presenting one of the most important documents in our nation’s history from our location at the heart of America.”

The museum opened in 2011 and was founded by Alice Walton, daughter of Walmart founder Sam Walton.

The document that Griffin bought at Thursday night’s auction was one of 13 known copies of the first printing of the Constitution and one of only two in private hands.

This print of the Constitution was last sold in 1988, when real estate developer and collector S. Howard Goldman bought it at auction for $165,000.

Proceeds from Thursday’s sale will benefit a foundation founded by Goldman’s widow, Dorothy Tapper Goldman, to advance the understanding of constitutional principles.

“The sale of this exceptionally rare and important printing of the Constitution tonight was a monumental and historic occasion,” Selby Kiefer, Sotheby’s senior international expert for books and manuscripts, said in a statement.

Kiefer said the auction result shows how relevant the Constitution is, “not only in America but for global democracy.”

The underbider was ConstitutionDAO, which on November 12 announced its plans to raise millions of dollars to buy Constitution on Twitter. DAO stands for Decentralized Autonomous Organization, which is a type of community driven business.

“We were the first DAOs Sotheby’s has ever worked with, but we’re sure we won’t be the last,” the group said.

The previous auction record for a book or manuscript was set in 1994 when Bill Gates purchased the Codex Leicester by Leonardo da Vinci at Christie’s for $30.8 million.

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This article is republished from – Voa News – Read the – original article.

Nation World News Desk
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