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Home NFT

Sotheby’s Auctions Rare Bored Ape NFTs with Jaw-Dropping Prices

Michael Juanico by Michael Juanico
June 4, 2024
in NFT
Reading Time: 3 mins read
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• Sotheby’s is auctioning a gold-furred Bored Ape Yacht Club NFT and other rare NFTs from Yuga Labs on June 18th
• The Bored Ape NFT being auctioned (Ape #8552) was previously owned by the now-bankrupt crypto hedge fund Three Arrows Capital
• The auction will test the current demand for high-value Bored Ape NFTs in the fine art world

Sotheby’s is set to auction a collection of rare Bored Ape Yacht Club NFTs, providing a test of Ape-themed assets in the fine art world. The highlights include a gold-furred Bored Ape formerly owned by the now-bankrupt hedge fund Three Arrows Capital.

Sotheby’s will auction a curated batch of @BoredApeYC NFTs on June 18

Headlined by rare gold-furred Ape's formerly owned by Three Arrows Capital

C/: @punk9059 pic.twitter.com/Yerrjb3HGW

— BlockNews.com (@blocknewsdotcom) June 4, 2024

Gold-Furred Ape Originally Owned By Defunct Hedge Fund

The lot includes Bored Ape #8552, distinguished by its gold fur and sushi chef headband. It was previously owned by Three Arrows Capital, a crypto hedge fund that collapsed amid market turmoil in 2022.

Only 46 of the 10,000 Bored Apes have gold fur, a highly desirable trait. The last gold fur Ape sale fetched 933,000 USD in March 2022. Nine of the top 12 Bored Ape sales tracked involved gold fur variants. In 2021, Sotheby’s sold a gold fur Ape for a record $34 million.

Additional Rare Yuga Labs NFTs Included

Also up for auction are two gold-furred NFTs from the Mutant Ape Yacht Club and one from the Bored Ape Kennel Club. Mutant Apes were created from an existing Bored Ape, while the Kennel Club has dog characters.

3AC paid around 106 ETH (now worth $401,000) for the Ape and Kennel Club pieces back in 2021. Though prices have dipped from peaks, rare traits like gold fur still command premium pricing.

Sotheby’s Aims To Gauge Demand For Ape NFTs

While the Bored Ape floor price has dropped dramatically from its peak, Sotheby’s will test whether ultra-rare pieces can still generate huge sales amid crypto’s ongoing slump. A Sotheby’s representative called it a “2021 relic,” referring to the Ape’s peak demand last year.

The auction comes a year after a different 3AC NFT called Ringers 879 sold for $62 million at Sotheby’s. Though the market has cooled, blue chip NFTs with prestigious pedigrees may still attract wealthy collectors.

Conclusion

Sotheby’s upcoming auction featuring ex-3AC Bored Apes will reveal today’s demand for rare, big-name NFTs. The inclusion of multiple gold fur pieces, a historically valued trait, suggests the sale could be a blockbuster. But the NFT market slump means blue chip project interest is being retested.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Bored Ape Kennel ClubBored Ape Yacht ClubMutant Ape Yacht ClubNFTThree Arrows Capital
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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