At Sotheby's in New York, a Hebrew Bible dating back 1,100 years was sold for $38.1 million. Known as the Codex Sassoon, it is considered the oldest nearly complete copy in existence. The buyer of this historic manuscript is the American Friends of the ANU - Museum of the Jewish People in Tel Aviv, who acquired it as a permanent gift for the museum. The purchase was made possible through a generous donation from Alfred Moses, an attorney and diplomat, along with the Moses family.
Following the sale, Moses expressed that he had made a firm decision to participate in the Codex auction. Approximately three weeks ago, he submitted an irrevocable bid of $32.5 million for the manuscript, indicating his agreement with the auction house to purchase it at that price. In the event that the final price surpassed that amount, Moses would receive a predetermined percentage of the total as previously arranged.
Was he anticipating being the highest bidder? In brief, his response is no. He stated, "I believed it would fetch a considerably higher amount - in the high 40s or low 50s."
According to him, the ability to acquire the Codex is an immensely thrilling experience. He expresses his joy in being able to offer the oldest known Hebrew Bible to the Jewish community, preserving it for future generations and ensuring its permanent public exhibition. The Codex was sold by investor Jacqui Safra.
There was a significant level of anticipation both within and outside the auction house regarding the identity of the ultimate buyer. Sotheby's organized a tour for the Bible, showcasing it in London, various cities across the United States, and Tel Aviv, where it was exhibited at the ANU in March. According to the auction house, over 20,000 individuals have had the opportunity to view it.
Sharon Mintz, a senior specialist in Judaica within Sotheby's books and manuscripts department, remarked on the large crowds leading up to the sale. She stated, "There have been immense gatherings. When it arrived in Tel Aviv, there were long queues stretching outside the door and around the block." She further explained, "People are deeply moved - there is a sense of joy. Merely being in the same room as this manuscript establishes a profound connection. It has been truly astonishing."
According to her, prospective bidders, including private collectors and public institutions, reached out to the auction house from various parts of the world. She mentioned that the newspaper articles alone generated numerous inquiries, as interested bidders read about the Codex and subsequently visited the auction house.
The Codex, named after its former owner David Solomon Sassoon (1880-1942), a renowned collector and member of the influential Sassoon family, consists of all 24 books of the Hebrew Bible, with some missing pages from Genesis. Comprising 396 parchment pages, it is believed to have originated in Israel or Syria.
Due to its considerable age, dating back to approximately 900 CE, and its near completeness, accurately valuing the Codex posed a challenge. Sotheby's states that the only comparable texts are the Codex Leicester, a notebook once owned by Leonardo da Vinci and acquired by Bill Gates in 1994 for $30.8 million, and an early copy of the US Constitution, which Ken Griffin purchased for $43.2 million in 2021.
The high estimate of $50 million for the Codex was the most substantial valuation ever placed on a book or manuscript. Sharon Mintz, speaking a day prior to the sale, expressed her belief that the price was reasonable. She stated, "I don't think it was excessive. There has been so much anticipation and excitement surrounding it, so I believe our estimation was accurate."
During the auction on Wednesday, a lively audience filled the room. Auctioneer Benjamin Doller initiated the bidding at $32 million, and following bids made by two phone participants in increments of $500,000, the hammer fell at $33.5 million for the sale of the Codex. (It is worth noting that Moses was one of the bidders, as he continued to bid beyond his previously agreed-upon amount.) The entire sale process was completed in just under five minutes.
Mintz remarks, "Enthusiasm has been expressed by individuals of various religions worldwide. It has truly been an extraordinary experience."