A rare copy of the United States Constitution, printed after the Constitutional Convention of 1787, has sold for more than $11 million during a live auction in Asheville, North Carolina, on Thursday evening.
The auction, conducted by Brunk Auctions, ended with a final bid of $9 million, excluding a 23 percent buyer’s premium and undisclosed taxes. The identity of the buyer remains confidential. Bidding for this rare copy started at $1.1 million and rapidly increased, reaching the final bid within a span of seven minutes. NBC Los Angeles reported that there were a total of 62 bids.
The Constitutional Convention, which took place in Philadelphia from May to September 1787, was a significant moment in American history. Initially assembled to amend the Articles of Confederation, the need for a new structure of government was quickly pointed out due to flaws in the existing system. This resulted in a new Constitution, which established a federal government with checks and balances between its branches. The document thus remains fundamental to American democracy, which makes it even more historically significant at such an auction.
Nancy Zander, director of external affairs for Brunk Auctions, described the sale as a “fantastic price” for The New York Times. “It’s really important that the important things get strong prices,” he said in an interview on Friday.
This copy of the Constitution was found two years ago in a filing cabinet at the Hayes Farm in Edenton, North Carolina. The farm was owned by Samuel Johnston, Governor of North Carolina from 1787 to 1789. It is one of about 100 copies printed at the time, with only eight or nine remaining today.
In addition to the Constitution, other notable items sold at the auction included a painting of George Washington crossing the Delaware River, which sold for more than $307,000, and a copy of the Articles of Confederation that sold for more than $1.2 million.
Seth Kaller, a historical documents expert involved in the auction, said that while there were expectations for a sale price equal to the previous record-setting sale in 2021 – when another early copy of the Constitution sold for more than $43 million – this result anticipated This time the market situation is different. Kallar was also representing one of the bidders in this auction.
The auction was initially scheduled for September 28 but was postponed due to the impact of Hurricane Helene on the neighboring region. “It wasn’t as celebratory as it would have been had we not had the terrible devastation around us,” Ms. Zander said, “but we were all together, appreciating the moment.” Despite limited public attendance due to the storm, bidders also reportedly participated via phone calls.
