Apple founding contract document for auction at Sotheby’s, expected to be sold for $150,000 (Photo)

By on Nov 29, 2011 in Business, Lifestyle, United States Comments

Updated: December 14, 2011 11:10 p.m.

Read Apple founding document sold for nearly $1.6 million at Sotheby’s Auction (Video)

Apple’s founding contract will be for auction at Sotheby’s this coming December 13, 2011, as shown in the photo below, and is expected to be sold for $150,000.

As noted at Sothebys.com, the three-page document was signed by signed by Steve Jobs, Steve Wozniak, and Ronald Wayne on April 1, 1976, establishing the Apple Computer Company.

According to the report, the Apple contract was written and initially owned by Wayne, who met Jobs while working at Atari Inc. and it was agreed that the former will be receiving 10 percent of Apple.

However, Wayne withdrew himself as a partner of Apple on April 12, or eleven days later, in which a registrant copy of Santa Clara County‘s statement of withdrawal of Wayne bearing his signature is included in the auction.

Apparently, Jobs and Wozniak agreed to pay him $800 for his 10 percent share and another $1,500, which Sotheby’s noted that it could be around $2 billion in today’s time.

“This is a foundation document in terms of financial history, social history and technological history,” Richard Austin, head of books and manuscripts at Sotheby’s in New York, was quoted at Bloomberg on Tuesday.

“With everything in the news, this seems to be the time to do it,” Austin added, referring to Steve Job‘s loss last October 5 and the recent release of his biography book written by Walter Isaacson, which is now a bestseller.

Austin noted that the consigner bought the documents in the mid-1990s from a manuscript dealer who had acquired them from Ronald Wayne, which is being estimated to be sold from $100,000 to $150,000.


Apple-founding-contract-auction
Apple founding contract (Click Image To Enlarge)
Image Credit: Sothebys.com


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