We have all heard about finding long lost Picassos or Rembrandts at garage sales where the buyer practically gets it for free and then makes hundreds of thousands if not millions at auction. The stories never seem to talk about the poor repented seller who made the ghastly mistake and accidently lost a fortune.
The scenario has also been playing out in the digital world in the form of Bored Ape Yacht Club NFT art. In this article we not only share the stories about some of the most notorious low-ball sales and accidental lost fortunes, but we will also share some of the stories of the sellers who goof balled.
The lates example is a Bored Ape Yacht Club (BAYC) NFT has sold for just $115. Yup, that’s right, this is not a typo, and it is 99.9% lower than its current floor price. What Happened? According to data from OpenSea, Bored Ape #835 sold for $115 worth of DAI DAI/USD
on Monday. The floor price, or the minimum price to acquire a BAYC NFT, was 106 ETH worth $350,000 at the time of writing.
BAYC is a collection of 10,000 Bored Ape NFTs—unique digital collectibles living on the Ethereum blockchain. Ownership of a Bored Ape NFT doubles as a Yacht Club membership card, and grants access to members-only benefits.
It was unclear why the Bored Ape holder, known by the pseudonym “cchan”, accepted such a low bid.
Some users speculated that he may have mistaken DAI for ETH when accepting the offer. DAI is a stablecoin pegged to the value of the U.S. dollar, whereas ETH’s current price is ahead of $3,300.
This isn’t the first time a Bored Ape NFT has accidentally been sold for less than a fraction of its market value. In December, Bored Ape #3547 sold for $3,000 instead of $300,000 because of a listing error made by the seller.
“I list a lot of items every day and just wasn’t paying attention properly. I instantly saw the error as my finger clicked the mouse, but a bot sent a transaction with over 8 ETH [$34,000] of gas fees, so it was instantly sniped before I could click cancel, and just like that, $250k was gone,” said the seller at the time.
A month earlier, a CryptoPunk NFT was sold for $19,000 instead of $19 million because of a similar listing error on behalf of the seller.
Price Action: At press time, Bored Ape’s native token ApeCoin
APE was trading at $14.37, down 4.80% in the last 24 hours.