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A rare first-edition printing of the US constitution was sold for $43.2 million last week, becoming the most expensive text sold at an auction till date.
The group that created the hype around it, ConstitutionDAO, failed to win the bid. The decentralized autonomous organization (DAO) received “median donation” of $206.26 from 17,437 online donors, breaking the record for most money crowdfunded in under 72 hours, it claimed on Twitter.
The funds were raised in Ethereum. The group is now refunding donors with $PEOPLE token, after subtracting gas fees through Juicebox platform. Donors will receive 1M $PEOPLE token per Ether (ETH).
So, who won the bid for the US constitution?
Billionaire investor Kenneth Griffin placed the winning bid of US$43.2 million on Thursday, November 18, after an eight-minute-long battle over telephone.
Griffin is the CEO of electronic trading company Citadel.
What next?
Kenneth will reportedly loan the document to Crystal Bridges Museum of American Art in Bentonville, Ark. According to him, the constitution is a public document and should be made available to every American.
Who held the ownership of the rare copy earlier?
Previously, this rare copy of the US constitution was privately held. Real estate developer S Howard Goldman had won it for $165,000 in an auction in 1988. His wife, Dorothy Tapper Goldman, inherited it following his death.
Mrs Goldman, a retired professor, loves collecting exclusive art pieces. The Dorothy Tapper Goldman collection includes more than 250 items.
All proceeds from the sale will go directly to the Dorothy Tapper Goldman Foundation, a non-profit group promoting understanding democracy.
Sotheby’s is going live with the auction more of items from the collection of constitutions and related documents between November 23 to December 2, 2021.
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