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December 20, 2007

Magna Carta Copy Sold for Charity

A 1297 copy of the Magna Carta put up for auction by the Perot Foundation sold for $21.3-million at Sotheby’s in New York on Thursday, reports Bloomberg News. The English royal document, also thought to be a symbol of freedom, is one of 17 surviving 13th-century versions and bears the wax seal of King Edward I of England.

The item was won by David Rubenstein, co-founder of the private-equity firm Carlyle Group, who said he would lend the manuscript back to the National Archives, in Washington, where it was recently on display. “I am really a temporary custodian,’‘ he said. “This document is going to be around a lot longer than I am.’‘

Ross Perot, founder of the Perot Foundation, said proceeds would be used for medical research and to aid military veterans and their families. Mr. Perot, who bought the document for about $1.5-million in 1983, said he was surprised that the item increased so drastically in price over the years, but was clearly pleased with the sale. “That’s a lot of money and a lot of opportunity,’‘ he said. “It’s time to take that money and use it for good causes.’‘

Thursday December 20, 2007 | Permalink

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