Christie's Auction (Recap)
We could not be happier with the model performance relating to the Christie's auction.
The model predicted $16.74M and the final auction price was $16.96M, a variance of about 1%.
While in our hearts we hoped for an even higher price for the CryptoPunks due to the auction dynamics, believe that the buyer paid the exact market price for the CryptoPunks in ETH and given the major runup in the price of ETH, a world record price in USD.
Everyone should feel good about this and we will soon have a second data point from the Sotheby's auction.
From a modeling perspective, we will use our pre-auction relative valuations of the 9 CryptoPunks to allocate the purchase price into the database.