Founding Apple Document Sells for $1.6 Million

Pre-auction estimates for the contract, signed by founders Ronald Wayne, Steve Jobs and Stephen Wozniak, ranged from $100,000 to $150,000.

The founding papers setting up Apple Computers sold Tuesday in New York for just under $1.6 million, 10 times the maximum amount that had been expected by Sotheby's auctioneers.

"The 1976 document, which once belonged to Ronald G. Wayne, one of Apple's founders along with Steven P. Jobs and Stephen G. Wozniak, is the first chapter in the story of one of America's most important companies," Sotheby's said.

It sold for $1,594,500. Pre-auction estimates by Sotheby's ranged from $100,000 to $150,000.

The buyer was Eduardo Cisneros, CEO of Miami-based Cisneros Corp.

The Apple contract was signed by the three founders on April 1, 1976. The contract, and the agreement documenting Wayne's withdrawal from the company 11 days later for just $800, was offered as a single lot.

Copyright Agence France-Presse, 2011

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