One of the world’s biggest auction houses continued their trend of auctioning NFTs this week when they auctioned off a collection of 101 Bored Apes and 101 Dogs from the Bored Ape Kennel Club. The collection of Bored Apes sold for $23.4 million, and the collection of 101 Kennel Club dogs sold for 1.8 million.
#AuctionUpdate 101 Bored Ape Yacht Club NFTs just sold for $24.4 million and 101 Bored Ape Kennel Club NFTs achieved $1.8 million in our Ape in! auction - the most significant #BAYC sale to date. Congrats to all the apes out there 🐵🐶 pic.twitter.com/e7UghlgtKy— Sotheby's (@Sothebys) September 9, 2021
Yuga Labs, the creators of BAYC, provided both the Apes and Dogs used in the auction. Two gold apes and other rare apes were included in the 101 Ape collection. Also, the collection included three M1 and three M2 mutant serums, allowing for the buyer to mint six new Mutant Apes. For the collection of the 101 BAKC, Yunga Labs provided one golden dog, a radioactive dog, and other cool furry friends.
Sotheby's expected the collection of ape to sell from around $12 million to $18 million, but the actual sale smashed this. Although this is not the biggest NFT sale, it is still a significant win for the NFT community. This sale generated a lot of excitement from the BAYC community, including a fellow ape and Sotheby’s Deputy Director of Contemporary Art Specialist & Co-Head of Digital Art, Michael Bouhanna.
Our Ape in! auction @sothebys just achieved an outstanding $26.2M - a great indicator of the level of confidence in this amazing NFT project. This is just the beginning. Congrats to @BAYC pic.twitter.com/iTRh5mthmQ— Michael Bouhanna (@michaelbouhanna) September 9, 2021
This auction comes off the back of a good month from BAYC, from new record resells to the Mutant Ape project. This sale seems to solidify the hype around BAYC and NFTs as a whole. In general, auctions of NFTs are good for the community due to the crazy sales and mainstream attention they bring.
1) big news -> incoming exposure and demand— karmacowboy (@RasmusGroenning) September 9, 2021
2) ave price above floor -> floor increase & stability
3) 101 Ape owner projects solid ROI on this price level -> long term price appreciation
4) great setup for mid and high end Apes to take off pre/at/post @ChristiesInc auction