Ron Wayne Stories September 4, 2015

AAPL: 109.27

-1.10

Another working Apple I being auctioned, expected to sell for upwards of half a million dollars

An original Apple I is being auctioned by Bonhams in New York in October, and is expected to sell for upwards of half a million dollars, reports Quirker. It has been authenticated as one of the first 50 constructed by Steve Wozniak in Steve Jobs’ garage, and is said to be fully working and in fantastic condition.

Corey Cohen, Apple-1 expert and member of the Board of Directors for Mid-Atlantic Retro Computing Hobbyists Museum said: “It’s in incredible condition. It’s nearly 40 years old, next year. It’s one of the best condition Apple-1s we’ve ever seen – not just at auction, but at any physical place at all.”

The machine is believed to be one of only six original Apple I computers in working order, a previous one selling in 2013 for $671k. Owner Tom Romkey sold a previous Apple I in 2014 for a world record £564k ($857k).

This model was apparently traded in at a computer shop by the original owner, who had used it only once and didn’t like it. Bonhams auctioneer Cassandra Hatton described the trade-in as “probably the worst financial transaction in history” – though we’d have to disagree.

That would probably be the third Apple cofounder, Ron Wayne, selling his 10% of the company back to the two Steves for $800 – stock that would now be worth billions. Even the original founding contract for Apple Computer sold back in 2011 for $1.6M.

Via Gizmodo

Ron Wayne Stories December 13, 2011

On April Foolsday in 1976 Steve Jobs, Steve Wozniak, and Ron Wayne signed the founding contract for Apple Computer.  Eleven days later, Ron Wayne  decided to sell his 10% of the company for $800, which is now worth $3.9 billion.  The founding contract that made history was originally expected to sell for $150,000, but today sold for a cool $1.6 million to Eduardo Cisneros, chief executive officer of Cisneros Corp, at a Sotheby’s auction in New York, reports Bloomberg. The Cisneros family is the second wealthiest in South America according to a 2006 Forbes listing.

The story goes that apparently the consigner bought the legal papers back in the mid-1990s “from a manuscript dealer” who is thought to had acquired them from Wayne. We’ve posted the bidding after the break.

Update: we’ve confirmed the documents have sold for $1,594,500, but the $1.3 million that Fortune reported doesn’t include the buyers tax the auction house tags on. Thanks Dewitt!

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Ron Wayne Stories November 28, 2011

35 years ago, Steve Jobs invited Ron Wayne to persuade Wozniak to join him in his entrepreneurial foray called Apple Computer Co. Jobs and Wayne go back a long way and had known each other from Jobs’s Atari days. Wayne drafted the original four-page founding contract that established Apple Computer Co. on a typewriter and came up with all the legalese of their partnership agreement.

Twelve days later, Wayne left the young startup and sold his stake. 35 years later, the original founding contract goes up for auction at Sothesby’s and is expected to fetch a cool $150,000. Apparently the consigner bought the legal papers back in the mid-1990s “from a manuscript dealer” who is thought to had acquired them from Wayne, Sotheby’s Richard Austin told the publication.

What’s interesting about the documents are the terms of Wayne’s withdrawal from Apple. So, how much did the two Steves compensate Wayne for his ten percent stake of the company, now worth $35 billion? According to Bloomberg:

On April 12, Wayne withdrew as partner. The move is documented by a County of Santa Clara statement and an amendment to the contract, both of which are part of the Sotheby’s lot. Wayne received $800 for relinquishing his 10 percent ownership of Apple, according to the document. He subsequently received another payment of $1,500, according to Sotheby’s.

Included right after the break is a video interview of Ron Wayne with The Next Web’s Matt Brian from September highlighting why he left Apple after just twelve days. One of the reasons is Wayne’s realization that he would be standing in the shadows of geniuses.

The original legal document that established Apple Computer Company (left) and signatures of Steve Jobs, Steve Wozniak and Ron Wayne (right).

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