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 auction.
The anonymous winning bidder at Thursday night’s sale outbid a group of 17,000 cryptocurrency enthusiasts from around the world who crowdfunded to buy it over the last week.
The document offered for sale 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 document 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.
Mr Kiffer said the auction result reflects how relevant the constitution remains, “not only in America but for global democracy".
The underbidder was ConstitutionDAO, which announced its plan to raise millions of dollars to buy the document on Twitter on November 12. DAO stands for "decentralised autonomous organisation", a type of community-run business that operates on the blockchain.
ConstitutionDAO tweeted on Thursday night: “We showed the world what crypto and web3, onboarding thousands of people in the process, including museum curators and art directors who are now excited to keep learning.”
The group added: “We were the first DAO Sothebys has ever worked with, but we’re sure we won’t be the last one.”
The previous auction record for a book or manuscript was set in 1994 when Bill Gates purchased the Codex Leicester, a collection of scientific writings by Leonardo da Vinci, at Christie’s for $30.8 million.
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Transmission: two-speed
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What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
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Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
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As a UAE-based travel agent who processes tourist visas from the Philippines, Jennifer Pacia Gado is fielding a lot of calls from concerned travellers just now. And they are all asking the same question.
“My clients are mostly Filipinos, and they [all want to know] about good conduct certificates,” says the 34-year-old Filipina, who has lived in the UAE for five years.
Ms Gado contacted the Philippines Embassy to get more information on the certificate so she can share it with her clients. She says many are worried about the process and associated costs – which could be as high as Dh500 to obtain and attest a good conduct certificate from the Philippines for jobseekers already living in the UAE.
“They are worried about this because when they arrive here without the NBI [National Bureau of Investigation] clearance, it is a hassle because it takes time,” she says.
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