business news in context, analysis with attitude

From the New York Times … a story about how "a group of cryptocurrency fans lost a much-anticipated bid for a rare first printing of the U.S. Constitution at a Sotheby’s auction on Thursday.

"The group, ConstitutionDAO, conducted a frenzied, weeklong online crowdfunding campaign to place a bid on the artifact, one of only 13 copies known to exist. It had raised more than $40 million in less than a week for the bid.

"The final sale price was $43.2 million, according to a Sotheby’s spokesman. The winner’s identity was not immediately known."

KC's View:

I know this has nothing to do with retail … unless, of course, the winning bidder was Jeff Bezos.  But since MNB took note of the planned bid by cryptocurrency enthusiasts earlier this week, I wanted to make sure we wrote about how it all turned out.