Friday, September 10, 2021

Guggenheim Landmark Auction & Battery Weed Sale

We’re closing out Genesis Week on a high note with the Guggenheim Museum Landmark Auction! Originally established in 1939, the Guggenheim has since become one of the world’s...

The Guggenheim Landmark Auction

We’re closing out Genesis Week on a high note with the Guggenheim Museum Landmark Auction! Originally established in 1939, the Guggenheim has since become one of the world’s most prominent art galleries in the world. The current building, designed by Frank Lloyd Wright in 1959, is a gorgeous work of art in itself, and its iconic design distinguishes itself against the NYC cityscape.

Committed to innovation, the Solomon R. Guggenheim Foundation collects, preserves, and interprets modern and contemporary art, and explores ideas across cultures through dynamic curatorial and educational initiatives and collaborations. With its constellation of architecturally and culturally distinct museums, exhibitions, publications, and digital platforms, the foundation engages both local and global audiences.

From
https://www.guggenheim.org/about-us

Facts about the Guggenheim Museum

  • Back in 1959 when the Guggenheim first opened, the cost of admission was only 50 cents!
  • Frank Lloyd Wright’s design for the Guggenheim was the result of over 700 sketches.
  • Despite its current level of fame, the design for the Guggenheim was originally criticized, one critique remarked that it looked like an “undigestible hot cross bun,” while another called it an “inverted oatmeal dish.”
  • Widely regarded as one of Frank Lloyd Wright’s most notable achievements, the famed architect passed away just 6 months after its opening at the age of 91.

Price Analysis

Located at 1070 5TH AVE in Manhattan, New York, the Guggenheim clocks in at a steady 260 UP2. The Guggenheim is a part of a variety of collections including the Rare “Park View,” and “Historic NYC,” collections, in addition to the “5th Ave,” Exclusive collection. These collections carry 2.45x, 2.68x, and 2.28x boosts respectively. The original minting price for this property would have been 3,117,400 UPX if it were not a Landmark.

We estimate the premium for this landmark to be around 300%, which makes for a minimum suggested mint price of 10,287,420 UPX. The current starting point for this landmark will be 25,000,000 UPX, from which we will work our way down to the suggested mint price. The Guggenheim Museum is one of the most iconic landmarks in NYC, and the winner of this auction will own a property for the ages!

Auction Details

As with previous auctions, we will employ the reverse-auction method that has been used in the past, in which we start at the highest price and lower it at scheduled times until someone mints the property. The auction will take place LIVE inside the app.

After the auction begins, simply send your block explorer to the location below and the property will be available for minting at the scheduled time.

Auction Start: June 11th at 12:00 PM PT

Auction End: June 12th at 7:00 PM PT

Starting Price: 25,000,000 UPX

Upland Address: 1070 5TH AVE in Manhattan, NY

Price Reduction Schedule:

Friday, June 11th

  • 12:00 PM PT the auction starts at 25,000,000 UPX
  • 12:30 PM | Price will be reduced to 23,000,000 UPX
  • 1:00 PM | Price will be reduced to 21,000,000 UPX
  • 1:30 PM | Price will be reduced to 19,000,000 UPX
  • 2:00 PM | Price will be reduced to 18,000,000 UPX
  • 2:30 PM | Price will be reduced to 17,000,000 UPX

Saturday

  • 9:00 AM | Price will be reduced to 16,000,000 UPX
  • 12:00 PM | Price will be reduced to 15,000,000 UPX
  • 3:00 PM | Price will be reduced to 14,000,000 UPX
  • 7:00 PM | Price will be reduced to 13,000,000 UPX

Sunday

  • 9:00 AM | Price will be reduced to 12,000,000 UPX
  • 2:00 PM | Price will be reduced to 11,000,000 UPX
  • 7:00 PM | Price will be reduced to the suggested mint price of 10,287,420 UPX

Price updates will be announced in our Discord #auction channel.

If the minimum mint price of 10,287,420 UPX is not met, we will close the auction without selling the Landmark. It will remain on the market at the original suggested mint price.

Take note that property earnings are calculated based on the mint price. This means that the higher the auction price, the greater your returns!

Disclaimer: We understand that there may be many potential buyers for this landmark. As such, if you purchased UPX within an hour before the start of the auction with the intention to purchase but were unable to mint the property, the Upland team will reimburse you. Simply submit a ticket to support@upland.me to open a ticket.

Battery Weed Landmark Sale

Battery Weed in Staten Island will also be for sale in conjunction with the Guggenheim Museum. However, we will be testing a new mechanic and offer this property directly in the Upland store!

Similar to our previous store sales, players will be able to register for an opportunity to mint this exclusive property. Once the sale begins, players will be placed in a queue and will be given an opportunity to purchase the UPX required to mint alongside the rights to the property itself. Registration for Battery Weed will open up today, Friday, June 10th, at 11:00 AM PT.

Once a player has purchased the landmark, it will be reserved for that player and they will need to head over to 1 N WEED RD to mint it.

Battery Weed is a four-tiered fort in Staten Island that is nestled right on the coast which guarded the “Narrows”; the main approach from the Atlantic Ocean to NYC. Originally intended to protect New York from attacks by sea, the 19th-century fort has stood for over 2 centuries. It remained a base of operations for the US Navy until 1995 when the care of the monument was turned over to the National Park Service. It is now open to the public on park ranger escorted tours.

Fun Facts About Battery Weed

  • Construction began all the way back in 1806 by the State of New York. It opened for service in 1808.
  • When the fort was first built, it was named Fort Richmond in honor of Richmond county which is named for Charles Lennox, 1st Duke of Richmond.
  • At one point, Battery Weed featured 116 guns facing seaward, in addition to 24 flank howitzers on the landward front.

Price Analysis

Located at 1 N WEED RD in Staten Island, New York, Battery Weed boasts a healthy 531 UP2. The original minting price for this property would have been 33,984 UPX if it were not a Landmark.

The sale price for this landmark will be 506,362 UPX and will be available in the store at the time listed below. Battery Weed is a fascinating landmark and boasts a truly iconic design. The owner of this property will have something spectacular to show off!

Registration Start: June 10th at 11:00 AM PT

Sale Start: June 11th at 10:00 AM PT

Sale Price: 506,362 UPX

Note: Players may only participate in the sale of the Battery Weed Landmark using the Web Version of the Upland App!