101 Bored Apes NFT auction at Sotheby's closes at $24.39M
The auction of Yuga Labs’ 101 Bored Ape Yacht Club (BAYC) collection has smashed through expectations with a winning bid of $24.39 million.
The auction was hosted by the prestigious auction house Sotheby’s which had earlier estimated the collection would fetch between $12 million and $18 million.
The bundle consists of 101 Bored Apes and three M1 and three M2 Mutant serum NFTs. When a Bored Ape token is combined with an M1 or M2 serum, it enables the holder to mint a new Mutant Ape NFT that keeps the same traits of the original Bored Ape but depicts it in a mutant format.
Taking the serum NFTs out of the equation as they are usually airdropped for free to holders, each Bored Ape in the collection was valued at an average price of roughly $241,000 or 69.4 ETH at the time of publication.
The figure tallies in well above the floor price for Bored Ape NFTs on the secondary market, with data from OpenSea showing a minimum price of 38.99 ETH, worth around $135,000.
Yuga Labs also auctioned off a 101 NFT collection of its side project Bored Ape Kennel Club which was closed on the same day with a winning bid of $1.83 million, at a price of $18,150 per NFT. The figure fell within Sotheby’s estimate of $1.5 million to $2 million and beat the floor price on OpenSea of 3.09 ETH or $10.700.
According to data from OpenSea, NFT sales volume on the secondary market cooled down in September, with top projects such as CryptoPunks, Art Blocks, and BAYC all seeing declines in the seven-day volume of 85%, 82%, and 69% respectively.