Can You Purchase One of the Copies of the Declaration of Independence
Earlier this calendar month, a rag-tag bunch of crypto heads tried to collectively raise enough money to buy a copy of the U.S. Constitution at a Sotheby'due south sale. ConstitutionDAO managed to raise $49.8 million in Ethereum, simply in the end it wasn't enough. Initially the re-create was expected to sell for somewhere betwixt $xv and $twenty 1000000, only instead sold for $43 million due to intense public interest in the lot. After the auction that attending shifted to a copy of another important historical document, the Declaration of Independence.
In an interesting parallel, i of the few broadside copies—ane of 200 printed by John Dunlap, of which there are but 25 still known in existence—of the Declaration of Independence happens to exist collectively owned. Rally, an investment platform that offers equity shares in collectibles, sold 80,000 shares at $25 for a total of $2 million to Rally members. Currently, five,500 individuals hold shares in the Announcement of Independence. The boilerplate investor in the Annunciation spent around $350.
Rob Petrozzo, co-founder of Rally, is proud that through the company an boilerplate person tin own a slice of history. "Being able to get somebody in at the ground floor of an asset like this and do it at a price point that they're comfortable with has e'er been one of the big goals for our platform," Petrozzo said.
Now, yet, a buyer has offered Rally a bid between $2.six and $two.8 1000000 for the Annunciation of Independence but a week after the initial offering. "With everything that happened with ConstitutionDAO at that place was a lot of attention for assets similar [the Constitution]," said Petrozzo, "I think a lot of collectors didn't realize that a document like the Declaration of Independence or a Constitution was bachelor."
Starting today, the holders will vote on whether they'd like to sell or concord on to the asset. If the investors decide to sell, each will go returns on their corresponding shares. If the investors decide to hold on to the Declaration, Rally is considering transferring the document from a storage facility to brandish it in their New York gallery, while pending an even larger offer. The document was on previously display at the National Constitution Centre in Philadelphia from 2009 to 2012. Information technology is unclear if the bidder has plans to publicly brandish the artifact, should they be allowed to purchase it.
Regardless of the result, Petrozzo believes this is a big moment for the company and for the investors. "Democratization is so in focus right at present but alternative assets don't get much attention," Petrozzo said. "To exercise this vote with and then many people and to know the power is in their hands to make that decision for this asset, that'due south a huge part of proving platforms similar this can exist."
Source: https://www.artnews.com/art-news/news/declaration-of-independence-vote-1234611697/
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