How Much Is Martin Shkreli’s One-of-a-Kind Wu-Tang Album Worth?
- 6 years ago
How Much Is Martin Shkreli’s One-of-a-Kind Wu-Tang Album Worth?
The album’s tangled history has only added to its fame, which might lift its value, according to Cyrus Bozorgmehr, who served as an adviser to the Wu-Tang Clan for the album’s release
and wrote a book, “Once Upon a Time in Shaolin: The Untold Story of the Wu-Tang Clan’s Million-Dollar Secret Album, the Devaluation of Music, and America’s New Public Enemy No.
At a time when artists worry that the digital economy has crushed the value of music, the Wu-Tang Clan — once hailed as the visionary kings of New York rap — decided to make “Once Upon a Time in Shaolin” a one-of-a-kind art piece, wrapping it in mystery
and pomp, and making its very release a statement about music’s worth.
When the album was sold at auction in mid-2015, the buyer was kept secret and the price was given only as “in the millions.” At the time, Mr. Shkreli had little public profile, but
that August — just as the deal was being finalized — he became an instant public villain for brazenly and unapologetically raising the price of Daraprim, a drug used to treat a rare disease from $13.50 a tablet to $750.
The original price, set when Mr. Shkreli bought the album at auction three years ago, has never been publicly confirmed, though it has been reported —
and stated more than once by Mr. Shkreli — as $2 million.
“There are potentially some people out there who would place a lot of value on that.”
According to Mr. Bozorgmehr, when Mr. Shkreli was arrested he even offered the album back to the Wu-Tang Clan.
Weeks later, Mr. Shkreli was identified as the buyer of “Once Upon a Time in Shaolin.” Wu-Tang fans were horrified,
but watched with fascination as Mr. Shkreli streamed snippets of the album online.
And then there is an item that has been the subject of worldwide intrigue: the sole copy of the Wu-Tang Clan album “Once
Upon a Time in Shaolin,” packaged in a custom silver-and-nickel case and accompanied by a 174-page leather-bound book.
The album’s tangled history has only added to its fame, which might lift its value, according to Cyrus Bozorgmehr, who served as an adviser to the Wu-Tang Clan for the album’s release
and wrote a book, “Once Upon a Time in Shaolin: The Untold Story of the Wu-Tang Clan’s Million-Dollar Secret Album, the Devaluation of Music, and America’s New Public Enemy No.
At a time when artists worry that the digital economy has crushed the value of music, the Wu-Tang Clan — once hailed as the visionary kings of New York rap — decided to make “Once Upon a Time in Shaolin” a one-of-a-kind art piece, wrapping it in mystery
and pomp, and making its very release a statement about music’s worth.
When the album was sold at auction in mid-2015, the buyer was kept secret and the price was given only as “in the millions.” At the time, Mr. Shkreli had little public profile, but
that August — just as the deal was being finalized — he became an instant public villain for brazenly and unapologetically raising the price of Daraprim, a drug used to treat a rare disease from $13.50 a tablet to $750.
The original price, set when Mr. Shkreli bought the album at auction three years ago, has never been publicly confirmed, though it has been reported —
and stated more than once by Mr. Shkreli — as $2 million.
“There are potentially some people out there who would place a lot of value on that.”
According to Mr. Bozorgmehr, when Mr. Shkreli was arrested he even offered the album back to the Wu-Tang Clan.
Weeks later, Mr. Shkreli was identified as the buyer of “Once Upon a Time in Shaolin.” Wu-Tang fans were horrified,
but watched with fascination as Mr. Shkreli streamed snippets of the album online.
And then there is an item that has been the subject of worldwide intrigue: the sole copy of the Wu-Tang Clan album “Once
Upon a Time in Shaolin,” packaged in a custom silver-and-nickel case and accompanied by a 174-page leather-bound book.