Historic document discovered in North Carolina sparks intense bidding war

A rare, early copy of the United States Constitution, printed shortly after the Constitutional Convention of 1787, sold for more than $11 million at a live auction in Asheville, North Carolina, on Thursday evening.

The auction, conducted by Brunk Auctions, saw the final bid reach $9 million, with an additional 23% buyer’s premium and taxes yet to be disclosed. The buyer’s identity remains confidential.

Bidding starts at $1.1 million, escalates quickly

The auction opened at $1.1 million, and within just seven minutes, intense bidding escalated the price to $9 million. In total, there were 62 bids for this historic artifact. The sale took place despite the original auction date being postponed due to the impact of Hurricane Helene on the surrounding area.

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Nancy Zander, director of external affairs for Brunk Auctions, told The New York Times that the final sale price was “spectacular.” She noted, “It’s really important that important things get strong prices,” emphasizing the historical significance of the item.

Discovered in an unlikely place

This rare copy of the Constitution was discovered two years ago in a filing cabinet at Hayes Farm in Edenton, North Carolina. The farm had belonged to Samuel Johnston, who served as the governor of North Carolina from 1787 to 1789. The document is believed to be one of approximately 100 copies printed after the Constitutional Convention, of which only eight or nine are known to still exist today.

A pivotal moment in American history

The Constitutional Convention, held in Philadelphia between May and September 1787, marked a turning point in the creation of the U.S. government. Originally convened to amend the Articles of Confederation, the convention quickly evolved into a full-fledged effort to draft a new constitution. The document established the system of checks and balances that remains fundamental to American democracy today, making this particular auction of exceptional historical significance.

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Other notable sales

In addition to the Constitution, the auction featured other valuable historical items. A painting of George Washington crossing the Delaware River sold for more than $307,000, while a rare copy of the Articles of Confederation fetched over $1.2 million.

Seth Kaller, a prominent historical document expert involved in the auction, noted that while there had been hopes for a sale price closer to the $43 million record set in 2021 for another early Constitution copy, this outcome was anticipated given current market conditions. Kaller also represented one of the bidders in the auction.

A somber yet momentous occasion

Though the auction was initially scheduled for September 28, it was postponed due to Hurricane Helene. Zander reflected on the subdued atmosphere, stating, “It was not as celebratory as it would have been had we not had the terrible catastrophe around us. But we were all together, appreciating the moment.”

Despite limited public attendance due to the storm, many bidders participated via phone, ensuring the sale of this invaluable piece of American history proceeded as planned.