News24

Founding Apple document sells for $1.6m

2011-12-14 18:34

New York - The founding papers setting up Apple Computers sold for just under $1.6m in New York on Tuesday, ten times the maximum amount that had been expected by Sotheby's auctioneers.

"The 1976 document, which once belonged to Ronald G Wayne, one of Apple's founders along with Steven P Jobs and Stephen G Wozniak, is the first chapter in the story of one of America's most important companies," Sotheby's said.

It sold for $1 594 500. Pre-auction estimates by Sotheby's ranged from $100-150 000.

The buyer was Eduardo Cisneros, CEO of Miami-based Cisneros Corporation.

The Apple contract was signed by the three founders on April 1 1976.

The contract and the agreement documenting Wayne's withdrawal from the company 11 days later for just $800, was offered as a single lot.