The sale was expected to draw up to $30 million before it was abruptly canceled by the seller.
A collection of 104 CryptoPunks expected to be sold for up to $30 million was put on ice Wednesday during a much-anticipated auction at Sotheby’s.
A Sotheby’s representative said that the seller decided to withdraw the lot. The auction was first announced on Feb. 8.
The lot, which Sotheby’s titled “Punk It!,” was first acquired by collector “0x650d” back in July 2021 through a single $7 million transaction.
In a tweet after the initial publication of this article, the pseudonymous collector said they changed their mind:
Perhaps contributing to 0x650d’s reversal were rumors of a tepid reception for the CryptoPunks mega-lot. Three sources, including one bidder on-site at Sotheby’s, told CoinDesk that the highest pre-bid offer was $14 million, which was also the reserve price.