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Someone Paid $1.6 Million for Apple's Founding Documents

By - Source: 9to5Mac | B 42 comments

At the end of November, New York auction house Sotheby's revealed that it was to auction off the founding documents for Apple as part of a books and manuscripts auction on December 13. The documents, which establish the Apple Computer Company and are signed by Steve Jobs, Steve Wozniak, and Ronald Wayne, are dated April 1, 1976 and were expected to fetch between $100,000 and $150,000. However, it seems the documents were worth a lot more than Sotheby's initially anticipated.

Eduardo Cisneros, chief executive officer of Cisneros Corporation, purchased the documents for over 10 times the amount they were expected to sell for, bidding $1,350,000 for the papers. Including the buyers premium, which Sotheby's tacks onto the price, the total came to $1,594,500 for the five pages pages.

According to Bloomberg, six people competed for the documents, starting at $70,000. The Cisneros family placed 254 on Forbes' most recent list of billionaires, with Cisneros Group being one of the world's largest privately held media and entertainment companies. The family has a net worth of $4.2 billion.

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Top Comments
  • 20 Hide
    outlw6669 , December 15, 2011 11:01 AM
  • 16 Hide
    dickcheney , December 15, 2011 11:24 AM
    April 1, 1976

    Apple is really a joke after all...
  • 11 Hide
    NuclearShadow , December 15, 2011 1:25 PM
    Wow! That is almost half the price of a Mac Book Pro!
Other Comments
  • 20 Hide
    outlw6669 , December 15, 2011 11:01 AM
  • -5 Hide
    memadmax , December 15, 2011 11:07 AM
    Holy crap... I bet it was Bill Gates.
    =D
  • -5 Hide
    memadmax , December 15, 2011 11:08 AM
    Nevermind, it was Cisneros lol...

    Still, holy crap....
  • 8 Hide
    nebun , December 15, 2011 11:17 AM
    such a waste....i wouldn't even wipe my arse with those things
  • 2 Hide
    house70 , December 15, 2011 11:21 AM
    will come in handy when the world runs out of toilet paper.
  • 16 Hide
    dickcheney , December 15, 2011 11:24 AM
    April 1, 1976

    Apple is really a joke after all...
  • 6 Hide
    sirius100 , December 15, 2011 11:47 AM
    I'm so ashamed that iDiot comes from my country... I bet he's one of those people who'd buy Apple braded water if it existed.
  • -4 Hide
    theconsolegamer , December 15, 2011 11:56 AM
    Why is this priced this way? Am I missing something?
  • 0 Hide
    jivdis1x , December 15, 2011 12:08 PM
    I guess he try to check on the reserve price on the auction by placing a crazy high bid and they didn't let him retract it.

    lol
  • 7 Hide
    stratplaya , December 15, 2011 12:28 PM
    Some people just have too much money.
  • 2 Hide
    jgutz2006 , December 15, 2011 12:28 PM
    glad they have a list of billionaires.... So theyre all greedy to move up the billionaire list instead of doing something productive? I would really like someone to tell me what this family can do with 4.2billion that they couldnt do with half of that, or 1 billion.... shit even 500 million could be an amazing trust fund for a family of 500
  • 4 Hide
    COLGeek , December 15, 2011 12:51 PM
    Does the document have any value to the average person? No.

    Does the document have any value to a collector? Obviously, yes.

    Like it, or not, collectors often pay way more for things than would be suitable from a common sense perspective. Think about the obsene values of some cars, jewelry, art....even comic books.
  • -4 Hide
    ericburnby , December 15, 2011 12:57 PM
    COLGeekDoes the document have any value to the average person? No.Does the document have any value to a collector? Obviously, yes.Like it, or not, collectors often pay way more for things than would be suitable from a common sense perspective. Think about the obsene values of some cars, jewelry, art....even comic books.

    No, no, no! You can't post a logical common sense response. Since these are Apple related documents you can only say things like "good toilet paper" or "even Apple paper is overpriced".
  • 1 Hide
    COLGeek , December 15, 2011 1:01 PM
    Quote:
    No, no, no! You can't post a logical common sense response. Since these are Apple related documents you can only say things like "good toilet paper" or "even Apple paper is overpriced".

    Sorry....you are so correct!!!

    So would it be too cliche to say that the contract (company) isn't worth the paper it is written on???????
  • 3 Hide
    dickcheney , December 15, 2011 1:16 PM
    COLGeekDoes the document have any value to the average person? No.Does the document have any value to a collector? Obviously, yes.Like it, or not, collectors often pay way more for things than would be suitable from a common sense perspective. Think about the obsene values of some cars, jewelry, art....even comic books.


    All of these are indeed ridiculously overpriced. Whats your point?
  • 2 Hide
    dickcheney , December 15, 2011 1:17 PM
    It just goes to show that some people really need a tax hike.
  • 11 Hide
    NuclearShadow , December 15, 2011 1:25 PM
    Wow! That is almost half the price of a Mac Book Pro!
  • 1 Hide
    COLGeek , December 15, 2011 1:36 PM
    Quote:
    All of these are indeed ridiculously overpriced. Whats your point?

    Value (like beauty) is the eye of the beholder. We could get all philosophical here are compare this scenario to a glass of water. Good for a thirsty man, but not so good for a drowning man. Its value is a matter of perspective.

    But, that would be a waste of time. Timing for making more Apple sauce...... Let the bashing continue!
  • -6 Hide
    ericburnby , December 15, 2011 1:41 PM
    sirius100I'm so ashamed that iDiot comes from my country... I bet he's one of those people who'd buy Apple braded water if it existed.

    He's probably ashamed a troll comes from his country.
  • 7 Hide
    sirius100 , December 15, 2011 1:55 PM
    ericburnbyHe's probably ashamed a troll comes from his country.

    Whoa whoa buddy, I just dislike fanboys, in this case, an Apple fanboy. I'd think it equally idiotic to pay this sum of money for the founding documents of Google, Microsoft, Intel, etc etc. The reference to Apple branded water is just a jab at the fact that of all fanboys, Apple's seem to be the most zealous. Oh, wait, never mind, reading your other comments it's pretty clear you're a fanboy yourself, ah, so many words, wasted :( 

    Actually, wait, I'm curious... do all of you who come out to defend Apple/Google/Randomcompany you own stocks or something? Or do you just get super aggravated for no good reason every time someone says anything even REMOTELY bad about some company that has nothing to do with you?
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