Christie’s Inc NFT auction for Everydays: the First 5,000 Days by Beeple
Updated: Apr 21
I participated in the Christie’s Inc NFT auction for Everydays: the First 5,000 Days by Beeple. My final effective bid was $60M (plus a fee of $69M). However, was outbid by another buyer in the last 20 secs by $250k. The difference was less than 0.3% of the total price.
My purpose for this tweet is to be transparent to our community and the public. I respect Christie’s and want to congratulate Beeple for this historic sale. This makes him one of the top three most valuable living artists.
I attach the video below to verify my statements here.
I was leading the bid w/ my target price of $60M (excluding Buyer premium which is around $9M) throughout the majority of the last 20 mins while other bidders were putting the target around $35.75M. Then at the last 38 secs of the original bidding session, another bidder raised the stake to $50.7M and Christie’s system extended the bidding session for another 95 secs.
After a system refresh, the bid was raised to $50.75M. In the last 40 secs of the extended session, the bid was raised to $60.25M. I tried to update my bid to $70M in the last 30 seconds yet my offer was somehow not accepted by Christie’s system even though there were still 20 seconds left.
This is my 1st time participating in an online auction with Christie’s. We reached out to Christie’s and they replied. I respect Christie’s rules, and it was just unfortunate that we were not familiar with these terms and hence lost the bid. I believe when the leading bidder gets outbid during the last few seconds, they should get at least 90 seconds chance to place one more bid.
To avoid these types of disputes in the future, ALL bids should be transparent, and utilizing blockchain technology would satisfy this requirement. This way, every bidder gets an equal chance to bid and everyone gets to see all the transactions transmitted. So, Christie's Inc, if you need my assistance in incorporating blockchain technology into your system, let me know. Happy to help.
That said, my commitment and investment to art and NFT, to the TRON community, won’t stop here and I’m dedicated to finding the next Beeple and the next visionary digital artist.