‘Extremely rare’ copy of Constitution heads to auction. How much could it sell for?

An “extremely rare” original copy of the U.S. Constitution, one of the nation’s most significant founding documents, is headed to auction. It could fetch tens of millions of dollars.

When the Constitution was written in Philadelphia in 1787, only 13 original copies were made, according to a Nov. 1 news release from Sotheby’s, an auction house. Now 235 years later, some of the copies reside in state archives, historical societies or university libraries, but two remain privately owned.

One of these privately held copies will be auctioned off in New York on Dec. 13, marking only the third time an original printing of the document has come to auction, according to Sotheby’s. One of those sales included a copy bearing a handwritten correction from George Washington.

The copy headed to auction next month was last up for sale in 1894 in Philadelphia and was gifted to Adrian Van Sinderen, a renowned book collector, according to Sotheby’s. The copy has been “little seen since it was first printed more than 200 years ago.”

It is estimated to sell for somewhere between $20 and $30 million, according to Sotheby’s.

The only other privately held copy was sold last year to Kenneth Griffin, an American hedge fund manager, for $43.2 million, after he outbid a “historic crowdfunding effort” by crypto enthusiasts, according to Sotheby’s.

“The U.S. Constitution is a sacred document that enshrines the rights of every American and all those who aspire to be,” Griffin said in a statement to CNBC in 2021. “That is why I intend to ensure that this copy of our Constitution will be available for all Americans and visitors to view and appreciate in our museums and other public spaces.”

The original copy purchased by Griffin last year is currently free to view at the Crystal Bridges Museum of American Art in Bentonville, Arkansas, until January 2023, according to the museum’s website.

“Copies from the first printing have only appeared at auction a handful of times since they were first printed and issued to delegates more than 200 years ago, so the appearance of this copy on the market is truly a special moment,” said Selby Kiffer, a Sotheby’s books and manuscripts specialist, in the release.

The document, which is printed on parchment, according to the National Archives, will be available to view in a Sotheby’s gallery in New York prior to the auction, marking the first time it has been on public view in 35 years.

The auction will take place at 10 a.m. Eastern time on Dec. 13, according to Sotheby’s, and bids can be placed online, in person, over the phone or in advance.

This story was originally published November 1, 2022 at 12:20 PM with the headline "‘Extremely rare’ copy of Constitution heads to auction. How much could it sell for?."