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Original poster
Apr 12, 2001
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Late last month, we noted that Apple's founding corporate papers were headed up for auction, with Sotheby's estimating that the documents would fetch in the range of $100,000-$150,000. The set of documents included the original three-page contract signed by Steve Jobs, Steve Wozniak, and Ron Wayne, as well as several other documents related to withdrawal from the company just 12 days after it was founded.

apple_documents_sold.jpg



According to the Sotheby's auction page for the documents, which are part of an ongoing sale of fine books and manuscripts, the lot sold for $1,594,500, considerably higher than the pre-auction estimates. That price includes a buyer's premium of 12% paid to Sotheby's.

The identity of the winning bidder has not been revealed, but the seller was identified last week as Wade Saadi, who purchased the documents from Ron Wayne in 1994 for "several thousand dollars".

Update: Sotheby's appears to have removed the final sales price from the auction listing for unknown reasons. Fortune reports that the winning bid came in via telephone at $1.35 million, although that figure apparently does not include the buyer's premium.

Update 2: As reported by the BBC, the winning bidder was Eduardo Cisneros, an executive whose Miami-based company owns stakes in a number of different companies.

Article Link: Apple Founding Documents Sell for Nearly $1.6 Million
 

Jaredly

macrumors member
Jan 28, 2010
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Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_0_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9A405 Safari/7534.48.3)

I love apple just as much as the next person but 1.6 million dollars is just outrageous.
 

furi0usbee

macrumors 68000
Jul 11, 2008
1,790
1,381
The seller was identified last week as Wade Saadi, who purchased the documents from Ron Wayne in 1994 for "several thousand dollars".

LOL.. Wayne just never did stop making bad business decisions... I really feel bad for that guy. At least he has a good sense of humor.

Bryan
 

furi0usbee

macrumors 68000
Jul 11, 2008
1,790
1,381
Man, Ron Wayne just can't catch a break.

You beat me to it! Poor Ron. Anyway, I suspected these would go for big bucks. You basically have the blueprint for one of the most storied businesses in all the world. It's a good thing I don't have the money. I would have dropped as much on these.

Bryan
 

SandynJosh

macrumors 68000
Oct 26, 2006
1,652
2
Wait! Wait!

Didn't Wade Saadi just buy back Ron Wayne's papers??? I'm confused.

If so, maybe this was all an exercise in increasing the apparent value of the papers from several thousand to a million plus.
 

kingtj

macrumors 68030
Oct 23, 2003
2,606
747
Brunswick, MD
No, no ...

I thought the same thing at first, for some reason. Must be the way they worded the article.

But what they're actually saying is that the winning bidder/buyer is still unknown. The SELLER who auctioned off the documents was Wade Saadi, who originally paid only a few thousand bucks for them back in 1994, when he was savvy enough to try buying them off Ron Wayne.


Didn't Wade Saadi just buy back Ron Wayne's papers??? I'm confused.

If so, maybe this was all an exercise in increasing the apparent value of the papers from several thousand to a million plus.
 

SandboxGeneral

Moderator emeritus
Sep 8, 2010
26,482
9,997
Detroit
Thats a lot of money for some paper with their signatures. I guess I just don't get it. What in the world is the buyer going to do with them?

Personally, I could find better things to spend $1.6 million on.
 

ThunderSkunk

macrumors 68040
Dec 31, 2007
3,223
3,023
Milwaukee Area
I wouldn't say he made a bad decision. It was a pretty sensible decision at the time.

If he were a fortune teller and could tell that all the extraordinary things that fell into place would, making Apple what it is today, and made the same decisions to sell his shares & the papers, then sure, those would have been bad decisions.

Investing works like this. Good thing there's more to life than money.
 

TMar

macrumors 68000
Jul 20, 2008
1,679
1
Ky
All the people in the first thread that thought they wouldn't reach even the $150k. I don't believe they are worth even the $150k but I knew they would go for more...
 

ryanwar6

macrumors newbie
Oct 9, 2008
6
0
This Just In!

Given the overwhelming demand for these founding documents, Apple has decided to begin mass producing founding documents with the first batch arriving in Apple stores as early as 3Q 2012.

Ryan Ward
Analyst
 

TrollToddington

macrumors 6502
Feb 27, 2011
312
1
Given the overwhelming demand for these founding documents, Apple has decided to begin mass producing founding documents with the first batch arriving in Apple stores as early as 3Q 2012.

Ryan Ward
Analyst
The fire in the printing mill in Adelaide will cause delays in production, developers will be supplied with the beta version of the documents no sooner than April-May 2012. Mass production is expected to begin no earlier than December 2012.

Dr. Troll Toddington, expert researcher and market analyst for "Grey Computers" magazine special edition.
 
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