Apple founding documents auction causes £1 million bidding frenzy

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apple-founding-papers.jpgHow much does a little bit of tech history cost? About £1 million if its got anyhting to do with Apple. The original founding documents, signed by Steve Jobs, Steve Wozniak and Ronald Wayne at the birth of Apple Computer Company sold for a staggering $1.6 million (£1.03 million) at a Sotheby’s auction in New York.

Penned way back in 1976, the papers were sold by Wade Saadi, Founder and CEO of IT recruitment firm Pencom Systems, who had bought the papers from Wayne back in 1994 for “several thousands of dollars”.

Though expected to sell for only around the $150,000 mark, 6 bidders at the event saw the sale price rocket, further showing the public interest in one of the world’s biggest tech firms.

Poor old Ronald Wayne though; not only did he get a raw deal when selling the papers back in 1994 compared to this most recent auction, but his worries about the strength of Apple back in 1976 also left him out of pocket.

Just 11 days after signing the papers, Wayne pulled out of the company, selling his share for a measly $800. It cost him potentially hundreds of millions of dollars in future profits.

Via: 9to5 Mac

Gerald Lynch