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Apple papers auctioned off for $1.6m

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By John Glenday, Reporter

December 14, 2011 | 1 min read

Three typed partnership agreements signed by Apple co-founders, Steve Jobs, Steve Wozniak and Ronald Wayne of April 1 1976, have been sold for nearly $1.6m.

Eduardo Cisneros , chief executive of Cisneros Corporation, walked away with the documents after a bidding war with five other bidders saw Sotheby’s estimated price of $150,000 smashed.

Wade Saadi, founder of IT recruitment firm Pencom Systems, put the papers up for sale after holding onto them since 1994 – when he purchased them off Wayne for “several thousand dollars”.

It is the second poor business decision for Wayne after he decided to quit Apple within just 11 days – fearing that he would be liable for any losses incurred by Apple.

The sale comes at a time of peaking public interest in Apple following the death of Steve Jobs; his biography is now the best-selling title of 2011 on Amazon.

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