Magna Carta from 1297 sells at US auction for €14.9m

US: A rare 710-year-old copy of the Magna Carta, among the most important historical documents ever to hit the auction block…

US:A rare 710-year-old copy of the Magna Carta, among the most important historical documents ever to hit the auction block, sold for $21.3 million (€14.9 million) on Tuesday at Sotheby's.

The document was bought by a Washington businessman who said he was determined that it would remain in the US, where it has been on display at the national archives and records administration since 1988.

The last remaining copy of the Magna Carta in the US and the last in private hands, which is one of 17 known to exist, was sold by the Perot Foundation3. This was created by former US presidential candidate the billionaire Ross Perot to make philanthropic grants. The foundation acquired it from the Brudenell family of Deene Park in Northamptonshire in 1984.

"It's a good day for our country," said David Rubenstein, a lawyer and founder of the Carlyle Group, a private equities firm, after he made the purchase. He had arrived just minutes before the sale and very nearly missed out.

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"I was determined to do what I could to see that the national archives can continue to display this," he said, noting that the 1297 document was the basis for both the US constitution and the declaration of independence. The Magna Carta, which Sotheby's called "the most important document in the world" established the rights of the English people and curbed the power of the king. The US constitution includes ideas and phrases taken almost directly from the charter, which rebellious barons forced the oppressive King John to sign in 1215.