Bored Apes Sell for $24M+ at Sotheby’s Auction

Bored Apes Sell for $24M+ at Sotheby’s Auction

101 BAYC and 101 Bored Ape Kennel Club NFTs were auctioned in two bundles

The Bored Ape Yacht Club NFT bundle auction at auction house Sotheby’s ended with a $24,3 million winning bid. In addition, the Bored Ape Kennel Club NFT bundle sold for more than $1,8 million. The winner of these auctions is anonymous.

Bored Ape Yacht Club founders Yuga Labs organized a Sotheby’s auction for two bundles of NFTs. The first bundle consisting 101 BAYC NFTs, sold for $24,393,000, and the second bundle, consisting of 101 BAKC NFTS, sold for $1,835,000. For some, these might be excessive numbers; for others, this might look like the deal of a lifetime. 

Bored Apes have had tremendous success ever since the collection launched in late April. Bored Ape NFTs make regular appearances in DappRadar Top Sales rankings. The collection also attracts tons of attention on social media, with more than 130,000 followers on Twitter. 

After the official BAYC launch, Yuga labs introduced Bored Ape Kennel Club, a subsequent collection of pet NFTs. BAKC NFTs were distributed to Bored Apes holders and were meant as a gesture from the creators towards BAYC supporters. However, as the Apes gained popularity, their pet friends became valuable as well. Consequently, Sotheby’s included the second auction bundle of BAKC NFTs. 

Is the Bored Apes bundle that expensive?

According to the DappRadar NFT Value Estimator, which tracks the Bored Ape Yacht Club collection, some of the 101 BAYC NFTs are quite expensive. Let’s take a look at the first item in the bundle – BAYC #5809. The Ape comes with the rather rare solid gold fur. According to the estimator, the current value of $900,783.

This is a pretty good deal if you think about it. Close to one twenty-fourth of the selling price is stored in a single NFT out of a bundle of 101. If we keep exploring with the NFT estimator, we see that this is not the only valuable ape in the bundle. 

BAYC #4466, for example, is evaluated at $302,194. This is about the median price of Apes NFTs in the bundle.

At the time of writing, the floor price for a BAYC NFT is 40 ETH, or about $141,241. If we look at floor price as an indicator, one might think that the new owner of the bundle has slightly overpaid (by about $10 million). The assumption that all of the 101 NFTs will sell at floor price leads to the conclusion that the whole bundle is worth approximately $14,265,341. 

However, and this is a big one, this assumption is completely wrong. As we can see, thanks to the DappRadar NFT Value Estimator, prices for individual Bored Apes vary significantly. Depending on the combination of traits and overall design of the Ape, it might sell for way more than the current floor price. Considering this, there’s a pretty good chance the new owner will be able to break even and possibly bag a sweet return on his $24 million investment. 

What about the kennels?

Absolutely the same logic applies to the Bored Ape Kennel Club NFT bundle. Once again, it consists of 101 NFTs, some of which are rarer than others. If we turn to the useful estimator service, we can see what each kennel in the list might be worth. 

For example, if we look at BAKC #5202, which is first in the Sotheby’s auction list, we can see that its estimated value is $15,482.

However, if we dig deeper in the bundle, we find BAKC #7833, which is estimated at $50,927.

Just like with their Ape owners, Bored Ape Kennels have varying traits with a different rarity. The combination of these traits also affects the possible sale price. Considering the fact that the floor price for a BAKC NFT at the moment is 3.59 ETH, or about $12,620, it wouldn’t be a surprise if the owner of this bundle also realizes a nice profit. 

If you’re curious to explore more about the recent BAYC and BAKC bundle sales, you can find the full list of NFTs here. To find out their estimated value, simply visit the DappRadar NFT Value Estimator, select the collection you want to explore, and type in the number of the NFT you’re looking for.  

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