A rare copy of the United States Constitution has captured significant attention after selling for over $11 million during an auction held on October 17, 2024, at Brunk Auctions in Asheville, North Carolina. The document, discovered just two years ago inside an unassuming metal filing cabinet at Hayes Farm, was part of the property once owned by Samuel Johnston, who served as North Carolina's governor during the late 18th century.
The auction began with bids starting at $1.1 million and quickly escalated. Within merely seven minutes, the bids reached $9 million, excluding the buyer's premium of 23% and additional taxes, bringing the total cost to $11,070,000. The identity of the successful bidder has been kept confidential.
This document holds immense historical value as it was part of the first batch of copies printed following the 1787 Constitutional Convention held in Philadelphia. That convention was integral to shaping the foundational framework of the United States government. Unlike the Articles of Confederation, this new Constitution established clear checks and balances among the branches of government, making it pivotal to American democracy. The signed document sold was among the few surviving copies, as only eight or nine are known to exist today.
The important find of the Constitution was made during the clearing out of the estate, which had been sold to the state. It is thought the document was likely collected by someone from the Johnston family. Adding to its significance, this specific copy features the signature of Charles Thomson, the then-secretary of Congress, on the fourth page—a detail rare among surviving copies.
This is not the only triumph recorded during the auction. Alongside the Constitution, noteworthy items sold included the original first draft of the Articles of Confederation, which fetched $1 million, exceeding expectations as no prior copies had been known to appear on the market. A copy of the famous painting “Washington Crossing the Delaware” also sold for $250,000, vastly exceeding its pre-sale estimate, indicating the strong interest and value associated with early American history memorabilia.
The exhilarating auction, originally scheduled for September 28, was postponed due to the impact of Hurricane Helene, which affected the Asheville area and limited pre-event publicity. Despite this setback, the auction featured 62 different bids, primarily done over the phone by interested buyers nationwide.
Nancy Zander, director of external affairs for Brunk Auctions remarked on the significance of the auction's results: "It's really important for significant items to receive strong prices," she noted, capturing the collective pride felt within the auction house as this historic document found its new home. This sentiment resonates particularly deeply considering the previous record set by hedge fund manager Ken Griffin, who purchased another early copy of the Constitution for $43.2 million back in 2021.
The record established here denotes both the cultural value of the document and the growing interest among collectors passionate about historical artifacts. The sale's outcome demonstrates how items of extreme relevance to both American culture and history can maintain, and even increase, their desirability and market value over time, drawing collectors and enthusiasts alike.
This auction reflects more than just financial transactions; it highlights the enduring legacy and significance of the founding documents of the United States. The Constitution not only serves as the governing framework of the nation but also embodies the principles of democracy and liberty cherished by Americans. The excitement surrounding its auction signifies not only the financial prowess of collectors but also their appreciation for the nation’s heritage and history.
Collectors and enthusiasts are now keeping their eyes on the upcoming auctions as more artifacts from America's past become available, hoping to unearth their own pieces of history. The sale of the Constitution is expected to fuel interest and engagement within the auction environment, leading to more historic items being curated and showcased to eager buyers.
This momentous event and high-profile auction have set the stage for future discussions and debates around the founding documents of the U.S. and their cultural significance within the historical narrative of the country. The Constitution continues to remain at the forefront of American political discourse and public engagement, not just as a historical artifact but as a living document relevant to contemporary governance and constitutional dialogues.
