Nobel Prize sold in auction for Ukrainian kids at staggering US$103.5M

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The auction for a Nobel Peace Prize on Monday night resulted in a record shattering US$103.5 million, all of which will go directly to help Ukrainian child refugees affected by Russia’s war on Ukraine.

The Peace Prize medal was auctioned off by Russian journalist Dmitry Muratov who got the award for fighting for press freedom in his country.

“I was hoping that there was going to be an enormous amount of solidarity, but I was not expecting this to be such a huge amount,” Muratov said in an interview after bidding in the nearly 3-week auction ended on World Refugee Day.

Previously, the most ever paid for a Nobel Prize medal was US$4.76 million in 2014, when James Watson, whose co-discovery of the structure of DNA earned him a Nobel Prize in 1962, sold his. Three years later, the family of his co-recipient, Francis Crick, received US$2.27 million in a bidding.

A spokesperson for Heritage Auctions, which handled the sale, could not confirm the identity of the buyer but said the winning bid was made by proxy. The US$103.5 million sale translates to US$100 million Swiss francs, hinting that the buyer is from overseas.

Muratov, who was awarded the gold medal in October 2021, helped found the independent Russian newspaper Novaya Gazeta and was the publication’s editor-in-chief when it shut down in March amid the Kremlin’s clampdown on journalists and public dissent in the wake of Russia’s invasion of Ukraine.

It was Muratov’s idea to auction off his prize, having already announced he was donating the accompanying US$500,000 cash award to charity.

Muratov has said the proceeds will go directly to UNICEF in its efforts to help children displaced by the war in Ukraine. Just minutes after bidding ended, UNICEF told the auction house it had already received the funds.

Online bids had begun June 1 to coincide with the International Children’s Day observance. Many bids came by telephone or online. The winning bid, tendered by telephone, catapulted the bidding from the low millions to astronomical levels.

Muratov had left Russia on Thursday to begin his trip to New York City, where live bidding began Monday evening.

Early Monday, the high bid was only US$550,000. The purchase price had been expected to spiral upward — but not over US$100 million.

“I can’t believe it. I’m awestruck. Personally, I’m flabbergasted. I’m stunned. I don’t really know what happened in there,” said Joshua Benesh, the chief strategy officer for Heritage Auctions.

“We knew that there was a tremendous groundswell of interest in the last couple of days by people who were moved by Dimitry’s story, by Dimitry’s act of generosity, that the global audience was listening tonight,” he said.

Muratov and Heritage officials said even those out of the bidding can still help by donating directly to UNICEF.

Muratov shared the Nobel Peace Prize last year with journalist Maria Ressa of the Philippines.

The two journalists, who each received their own medals, were honored for their battles to preserve free speech in their respective countries, despite coming under attack by harassment, their governments and even death threats.

Melted down, the 175 grams of 23-karat gold contained in Muratov’s medal would be worth about US$10,000. (Source: AP News)

 

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