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Sotheby's Released New Details Regarding This Week's BAYC Auction

Art auction house, Sotheby's released new information regarding this weeks Bored Ape Yacht Club auctions.


Sotheby's will be auctioning off two separate BAYC lots. The first lot

will include 101 bored apes, including three gold fur apes. The Second

lot will include 101 Bored Ape Kennel Club Dogs including a gold fur

four-legged friend.


“Bored Ape Yacht Club and Bored Ape Kennel Club have paved the way for

what NFT art communities can be, Sotheby's tweeted. “Whether it’s your

online identity, a shared culture, or you just want to ape in...the

@BoredApeYC sale starts September 2. Details here:

https://bit.ly/3t08Scf.


Sotheby's estimates that the bored ape lot will sell for $12,000,000-$18,000,000 USD and the BAKC dog lot will sell for

$1,5000,000-$2,000,000 USD, according to the auction house’s website.


While seven and eight figure price tags for an NFTs that just came

into existence earlier this year are impressive, many BAYC members

believe that these estimated prices’ are to low.


“Nice,” BAYC member and high-end ape buyer, TheArtchitech, tweeted.

“But estimates are WAY TOO LOW in my opinion...”


BAYC member Rushyyy agreed with TheArtchitech and explained his

thought process on the value of these lots. “So if this is all one lot

and the floor for Apes is 48Eth and for Dogs is 4.5Eth. With the

current price of Eth at $3300. 101 Apes + 101 Dogs... The lowest the

whole purchase should go for (assuming floors) is $15.84Mil (apes) +

$1.5Mil = $17.34Mil Sounds like a steal!”


The Bored Ape Gazette looked into how much these lots may be worth at

today’s floor prices and discovered that Sotheby's price estimations

are lower than the current floor prices, according to Evaluate.

Market.


The wallet that is holding the 101 apes and 101 dogs are is

“0x520edc55cbf109139ec9f9c27db79a1d5d2c8865.” The Bored Ape Gazette

plugged this wallet address into Evaluate Market, which estimated the

wallet’s ape value at 46,233.015 Eth or $152,568,950 USD. Evaluate.

Market also estimated the value of the BAKC dogs in this wallet at

954.1025 or $3,148,538 USD.


While Sotheby's’ estimates are below what Evaluate. Market believes the

apes are valued at, some BAYC members believe this auction can be

compared to buying in bulk.


“I think knowing the lot sizes that is to be expected,” BAYC member

Jfranchise12 tweeted regarding to Sotheby's estimates. “Sort of like a

bulk discount for 101 apes instead of say at 60eth per on average -

could shake out to be a little lower/ape if that makes sense - 101 is

a MASSIVE lot. Bigger than when 3AC scooped 88 punks.”


Regardless of price estimations, BAYC members are excited to have apes

being auctioned at one of the world’s most well-known auction houses.


The Bored Ape Gazette will continue to follow this auction and bring

you more information as it becomes available.


Be sure to check out a list of all the apes and dogs that Sotheby's

will be auctioning this week below.


Apes: https://www.sothebys.com/en/buy/auction/2021/ape-in/101-bored-ape-yacht-club


Dogs: https://www.sothebys.com/en/buy/auction/2021/ape-in/101-bored-ape-kennel-club

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