Melania’s hat auction ended up being a money-losing crap out
Well, it looks like Melania Trump‘s latest online auction was a total bust.The ex-FLOTUS was auctioning off three items on her website: a hat she wore during an official White House state visit in 2018, a watercolor of herself wearing the hat, and a non-fungible token of the watercolor of herself wearing the hat.
Bidding started at $250,000.Related: Guess which former first lady just threw major shade at Melania Trump for auctioning off her hatWhen Melania first announced the auction earlier this month, she said she would only accept payment via SOL, a cryptocurrency on the Solana platform.
At the time, the value of a SOL was roughly $170. But by the time the auction ended on Tuesday, the value had dropped almost $100, to $93.CNN reports:While the minimum requirement of Solana tickets was met, the $250,000 threshold wasn’t met because over the last two weeks, almost the entirety of the auction, the crypto market has taken a massive dive, with values of various currencies falling 20, 30 or even 40%, as was the case with Solana (SOL.)As a result of the lack of interest in Trump’s items, an inflated opening bid amount and a plunging market, the “Head of State Collection” — as Trump dubbed her lot — appears to have sold for about $170,000, $80,000 below the anticipated opening bid.
CNN reached out to Trump’s spokesperson for comment on the auction.Of course, $170,000 is still an absolutely insane amount of money for a hat (and a watercolor of a hat… and an NFT for the watercolor of the hat), but we’re sure Melania is still pissed it didn’t go for more.
