In what feels like a real-life tale of long lost treasure, the infamously rare Wu-Tang Clan album, Once Upon a Time in Shaolin, has once again been purchased by an unknown buyer after the U.S. government put the LP on auction to help pay off a whopping $7.36 million forfeiture money judgment issued on convicted hedge fund manager Martin Shkreli.
A press release issued on Tuesday (July 27) from the United States Attorney’s Office Eastern District of New York confirmed the news, which started off with the following paragraph:
“Earlier today, the United States sold the sole copy of the Wu-Tang Clan album “Once Upon a Time in Shaolin” (the “Album”) which had previously been ordered to be forfeited as a substitute asset in connection with the approximately $7.4 million forfeiture money judgment (Forfeiture Money Judgment) entered against Shkreli at his March 2018 sentencing. Proceeds from the sale of the Album will be applied to satisfy the outstanding balance owed on the Forfeiture Money Judgment. The contract of sale contains a confidentiality provision that protects information relating to the buyer and price.”
The buyer has chosen to stay anonymous so far, in addition to staying hush on how much the resell actually went for. If it’s anything close to the near $2 million Shkreli paid for it back in 2015, we’re willing to bet the price tag was a pretty penny.
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The jeweling case that houses Once Upon a Time in Shaolin is the true eye-grabbing aspect overall, which the press statement describes as “a hand-carved nickel-silver box as well as a leather-bound manuscript containing lyrics and a certificate of authenticity.” We can only hope the new owner has more respect for this hip-hop treasure than its previous owner.
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Legendary One-Of-One Wu-Tang Album Sold Yet Again By U.S. Government To Cover Martin Shkreli Debt was originally published on blackamericaweb.com