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Magna Carta copy sold for £10.6m Magna Carta copy sold for £10.6m
(30 minutes later)
A rare copy of the Magna Carta has been sold for £10.6m ($21.3m) in an auction at Sotheby's in New York.A rare copy of the Magna Carta has been sold for £10.6m ($21.3m) in an auction at Sotheby's in New York.
The copy, sealed by Edward I in 1297, was one of only 17 of the document in existence and the only one still in private ownership. The 1297 copy, which is one of only 17 of the document still in existence, went to an unknown bidder.
The auction item, owned by the Perot Foundation, had been expected to fetch £9.94m ($20m) under the hammer. The auction item had been owned by American billionaire Ross Perot's Perot Foundation since 1984 and was on view at the National Archives in Washington.
The original Magna Carta was signed by King John in 1215 and enshrined civil rights in English law. The original Magna Carta was sealed by King John of England in 1215 and enshrined civil rights in English law.
The auctioned copy, bought by Ross Perot in 1984, was on view until recently in the National Archives in Washington. 'Talisman of liberty'
The auctioned copy, the only one in private hands, had been expected to fetch £9.94m ($20m) when it went under the hammer.
The Magna Carta was not confirmed as English law until the version sealed by Edward I in 1297.
David Redden, vice-chairman of Sotheby's, described the Magna Carta as "the most important document in the world".
"The 1297 Magna Carta became the operative version, the one that was entered into English common law and became the law of the land," he said.
"The Magna Carta is the first rung on the ladder to freedom. This document symbolises mankind's eternal quest for freedom.
"It is a talisman of liberty."
Basic freedoms
The Magna Carta came into being as the result of a dispute between King John and English barons, and it went some way towards limiting the authority of the king.The Magna Carta came into being as the result of a dispute between King John and English barons, and it went some way towards limiting the authority of the king.
The charter guaranteed basic freedoms and property rights to those considered "free men".The charter guaranteed basic freedoms and property rights to those considered "free men".
Its most notable legacy in present-day English law is the principle of Habeas Corpus, which protects people against unlawful imprisonment.Its most notable legacy in present-day English law is the principle of Habeas Corpus, which protects people against unlawful imprisonment.
Only four copies dating to the 1215 signing of the Magna Carta are believed to have survived, and all of them are in England.Only four copies dating to the 1215 signing of the Magna Carta are believed to have survived, and all of them are in England.