Rare first printing of US Constitution sells for record $43M
NEW YORK, United States (AP) — 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 an auction.
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.
The buyer, hedge fund manager Kenneth Griffin, will loan 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, outbid a group of 17,000 cryptocurrency enthusiasts from around the world who crowdfunded to buy it over the last week.
“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 is why I intend to ensure that this copy of our Constitution will be available for all Americans and visitors to view and appreciate in our museums and other public spaces.”
Crystal Bridges board chairperson Olivia Walton said, “We are honoured to exhibit one of the most important documents in our nation’s history from our location in the heartland of America.”
The museum opened in 2011 and was founded by Alice Walton, the daughter of Walmart founder Sam Walton.
The document that Griffin purchased 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 printing 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 established by Goldman’s widow, Dorothy Tapper Goldman, to further the understanding of constitutional principles.
“Tonight’s sale of this exceptionally rare and important printing of the Constitution was a monumental and historic occasion,” Selby Kiffer, Sotheby’s senior international specialist for books and manuscripts, said in a statement.
Kiffer said the auction result reflects how relevant the Constitution remains, “not only in America but for global democracy.”
