ConstitutionDAO failed in its bid to buy 1st edition print copy of the U.S. Constitution at Sotheby’s auction
According to ConstitutionDAO, they failed in an attempt to purchase the last privately owned, first edition print of the U.S. Constitution at a public auction at Sotheby’s on Thursday.
— ConstitutionDAO (?, ?) (@ConstitutionDAO) November 19, 2021
ConstitutionDAO lose out in $43.2 million sale of a rare copy of the U.S. constitution
Sotheby’s reports that a rare copy of the United States Constitution sold for $43.2 million at auction – but unfortunately, the win didn’t go to a community that worked the week that mobilized. raised tens of millions of dollars just for this purpose.
Reportedly, the Official Edition of The United States Constitution was won by an anonymous buyer for $41 million ($43.2 million including auction fees). Meaning, the DAO failed in its historic attempt to put it in the hands of The People.
This particular copy is one of thirteen copies of the Official Copy of the Constitution from the Constitutional Convention. It was first purchased from Sotheby’s by late real estate developer S. Howard Goldman in 1988 for $165,000. His widow, Dorothy Goldman, put it up for sale this year and decided that the proceeds would go to the Dorothy Tapper Goldman Foundation.
Organizer Julian Weisser confirmed the loss amid a chaotic online viewing party on social media and Constitutional Discord, where several reports indicated that the money group electronics won.
“We did not win the bid for the copy of the U.S. [C]institution,” Weisser stated. “While this wasn’t the outcome we hoped for, we still made history tonight with ConstitutionDAO. This is the largest crowdfund for a physical object that we are aware of—crypto or fiat. We are so incredibly grateful to have done this together with you all and are still in shock that we even got this far.”
The organization’s efforts have drawn many supporters and critics over the past week. The rate of donation has increased rapidly in the time leading up to the auction day.
According to Weisser, “we had 17,437 donors, with a median donation size of $206.26. A significant percentage of these donations came from wallets that were initialized for the first time.” The group raised about $47 million in total.
Soon, the team will begin processing the refund after deducting the transaction costs on the Ethereum network for the participants.
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