Sotheby’s Bored Ape NFT Sale Exceeds Expected Value

Sotheby’s Bored Ape Yacht Club 101 non-fungible token (NFT) hit a bid of $19 million. The latest series of the “Bored Ape” NFT has surpassed the expectations of Sotheby’s, as bids rose over $19 million.

Sotheby’s Bored Ape NFT Sale Exceeds Expected Value
Sotheby’s Bored Ape NFT Screenshot

Note that Sotheby’s is one of the world’s best auction houses. What is more, before its first NFT listing, Sotheby accepted crypto for the first time for a Banksy piece.

Moreover, Sotheby’s announced the sale of 202 Bored Ape NFTs from Yuga Labs. Among those, there are the most popular Bored Ape Yacht Club (BAYC) and Bored Ape Kennel Club (BAKC).

In addition, the auction for BAYC 101 was at an estimated amount of $12 to $18 million. But surprisingly, it surpassed the initial amount, rising to over $19 million. However, the auction isn't over as it still has 3 days left on the market.

As the NFT market continues to attract more investors, these Yuga Labs NFTs are also breaking sale records. For instance, a BAYC was sold for over $1 million but a month before the same collectible was sold for around $330,000.

Sotheby got into the NFT craze only this summer. But from there, it has marketed many digital collectibles from several individuals and groups.

Plus, the auction house sold one of CryptoPunks most expensive collectibles, CryptoPunks #7523. Sotheby sold digital art for over $11 million.