The most expensive NFT artwork sold through an open-edition auction is “Merge” by Pak, which was on sale from 2 to 4 December 2021. Instead of a single NFT for the artwork, the artist continually minted new “units of mass” representing a share of the artwork over the 48 hours the piece was on sale, creating as many units as there was demand for. By the time the sale concluded, Pak had sold 312,686 “units of mass” with a base price of $575 (the price rose progressively as the sale went on) to a total of 28,983 buyers, earning $91,806,519 (£69,206,141).
After the sale had concluded, a unique NFT was minted for each buyer with the details of their accumulated “mass”. The NFTs use dynamic smart contracts which are designed to gradually reduce the number of tokens available – each time a user with a Merge NFT buys another user’s Merge NFT, the new token is merged with the existing one, increasing the buyer’s “mass” but reducing the number of NFTs on the market.
The price was a record for an artwork sold publicly by a living artist, according to Nifty Gateway. However, the claim is debatable, depending on whether The Merge is ultimately considered to be a single piece or a series of artworks. It may be considered a series of artwork because each and every “mass” is an NFT and represents a piece of the artwork.
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History of Auctioneering
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The Iowa Auctioneers Association Granted Tax Exempt Status in 2001.
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The Michigan Auctioneers Association Granted Tax Exempt Status in 1998 to represent the interests of auctioneers in Michigan.
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The Washington Auctioneers Association Granted Tax Exempt Status in 2020.
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The Arizona State Auctioneers Association Granted Tax Exempt Status in 2021.
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The Auctioneers Association of Maryland Granted Tax Exempt Status in 1998.
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Georgia Auctioneers Association Inc Granted Tax Exempt Status in 1969 to Educate Georgia Auctioneers.
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The Montana Auctioneer Association Granted Tax Exempt Status in 2020.
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Source: https://www.guidestar.org/profile/81-0375390
The Alabama Auctioneers Association Inc Granted Tax Exempt Status in 1990 to Educate Alabama Auctioneers.
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Daniel R. Ritger “Colonel Dan”
Died unexpectedly on Sunday, October 30, 2022, at the age of 62. He was born in West Bend, WI, the son of the late LeRoy and Imelda (Nee Weninger) Ritger. Dan graduated from Slinger High School, and attended Reisch School of Auctioneering in Iowa. At a young age he followed his father’s interest in the cattle business by becoming an auctioneer. He had his first auction at the age of 16 years old and has been an auctioneer for 41 years doing public auctions and selling livestock for Ritger Auction Services, Midwest Livestock Producers, Equity Livestock, and the Milwaukee Stockyard. For the past 25 years Dan has been with Auction Specialists of Stoughton. In 2019 Dan partnered with Rod Drendel to form Ritger Drendel Auction Specialists. Dan also was a member of WI Auctioneer’s Association.
Dan took pride in being involved in his community, volunteering with the Allenton Lions club for many years, serving as a Past President and also on various committees and events. He was a previous member of the Allenton Fire Department and served on the Addison Town Board for several years including being Chairman for a time. He used his auction skills and quick talking for various fund raising events, volunteered at many livestock auctions at local county fairs and announced the Allenton parade for many years. He was also involved with the Washington County Farm Bureau serving hamburgers and ice cream sundaes.
His Catholic faith was very important to him. He was very active at Resurrection Parish (formerly Sacred Heart) where he attended school at an early age and continued his involvement as he grew older. After moving to Kewaskum in recent years, St. Michaels Catholic Church became his new parish home.
Dan is survived by his son, who was his pride and joy, Clyde Ritger; his former wife, who still held a special place in his heart, Rhoda Ritger; his siblings Timothy (Bonnie Johnson), and Cecilia (Russ) Nehm; nieces & nephews Krista (Keith) Ritger, Teresa (Tim) Weiser, Doug (Lavinia) Nehm, and Eric Nehm. He is further survived by aunts, uncles, other relatives, and many friends. Dan was preceded in death by his parents and his older brother Gerhard Ritger.
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