Melania Trump auctions hat, gets very few bids | The Business Standard
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MONDAY, DECEMBER 11, 2023
Melania Trump auctions hat, gets very few bids

Offbeat

TBS Report
01 February, 2022, 11:40 am
Last modified: 01 February, 2022, 11:48 am

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Melania Trump auctions hat, gets very few bids

The crypto market suffered a steep dive since Malania announced the auction, which meant that despite reaching the minimum requirement, the auction failed to reach its $250,000 threshold

TBS Report
01 February, 2022, 11:40 am
Last modified: 01 February, 2022, 11:48 am
Photo: Collected
Photo: Collected

Former first lady of the United States Melania Trump had auctioned three items at a $250,000 opening bid and received only five bids by the end of the action on Wednesday (26 January) night.

Melania Trump had said that a portion of the auction would go towards charity.

Earlier in January, Melania had announced that she would auction off a "Head of State Collection" that included a custom wide-brimmed hat that she wore to meet French President Emmanuel Macron in 2018, along with a watercolour painting of herself wearing the hat and a non-fungible token (NFT) of the painting, CNN reported.

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Each of the bids on the items was around the minimum requirement of 1,800 Solana tokens - the cryptocurrency which Melania chose as the only way to pay for the items.

However, the crypto market suffered a steep dive since Malania announced the auction, which meant that despite reaching the minimum requirement, the auction failed to reach its $250,000 threshold.

In early January when Melania announced the auction, Solana was trading at a price of about $170 per token according to the Daily Mail. By the time the auction closed on Wednesday, the price had dropped to around $95 per token.

This meant that the lot was sold for about $170,000, which is $80,000 less than the asking price.

The custom hat included in the auction was designed by French-American designer Herve Pierre.

The physical and digital paintings of Trump wearing the hat included in the auction were created by French artist Marc-Antoine Coulon.

Melania Trump / Auction / Cryptocurrencies

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