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Magna Carta Sells for $21.3M

Purchaser says he'll lend it to National Archives

By Jason Farago, Newser Staff

Posted Dec 19, 2007 9:00 AM CST

(Newser) – A 1297 copy of the Magna Carta, the founding document of constitutional law, sold at auction for $21.3 million last night. Ross Perot's foundation put the document up for sale at Sotheby's in New York, where it was bought by David Rubenstein, a private equity magnate who served in the Carter administration. Rubenstein, co-founder of the Carlyle Group, has said he'll lend the copy to the National Archives in Washington.

The Magna Carta, signed by King John in 1215, asserted that the sovereign was not above the law and established a charter of liberties. The 1297 version, slightly amended and bearing the wax seal of John's grandson Edward I, was the first edition promulgated as English law. Perot has said that the proceeds from the sale will go to medical research and veterans' aid.

This undated photo released by Sotheby's shows a copy of the Magna Carta. (Associated Press)

An unidentified man has a close view of the Magna Carta at Sotheby's in New York. (Getty Images (by Event) Individuals)

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Magna Carta Sells for $21.3M

Purchaser says he'll lend it to National Archives

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Document expected to command at least $20M

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Magna Carta Up for Sale

Document expected to command at least $20M

Sun-Drop Diamond Fetches $12.3M

Rare yellow gem goes for record price

Painting Looted by Nazis Sells for $40.4M

Gustav Klimt landscape goes way above expectations at Sotheby's

Rebounding Art World Expects Huge Spring Prices

A dozen works are priced near $20 million each at auctions

Painting of Picasso's Mistress Fetches $40M

La Lecture sells for double estimate

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