Wu-Tang Clan’s Secret Album Has Finally Been Sold

In two separate pieces this week, FORBES broke the news that the Wu-Tang Clan had sold its secret album to an unknown bidder. Today, new details are beginning to emerge.

According to a release by Paddle8, the upstart auction house that sold the double-album, Once Upon A Time In Shaolin has been sold to a “private American collector” for a price “in the millions.” The sale was agreed upon in May, but it took months to finalize contracts and legal protections for the unusual record.

“The Wu-Tang Clan have always been driven by innovation, and this marks another moment in musical history,” said Wu-Tang cofounder RZA in the statement, adding that the group would donate a significant portion of the proceeds to charity. “From the beginning, we hoped that this concept would inspire debate and new ways of seeing creativity. Both of those goals have been achieved, and the ideas continue to evolve.”

Though the precise amount of the sale has not been revealed, Paddle8 says it makes Once Upon A Time In Shaolin the most expensive single album ever sold, topping Jack White’s $300,000 purchase of a rare acetate recording of Elvis Presley’s first song.

“We pioneered a new type of intellectual property regarding the sale of a work that is simultaneously physical and digital, creating previously unexplored legal protections for a unique work that cannot be reproduced,” added Paddle8 cofounder Alexander Gilkes. “This marks an exciting new model of distribution for the music world and we look forward to playing an ongoing role in this innovative model.”

[via FORBES]

Wu-Tang Clan Plans to Sell One-of-a-Kind Album Through an Online Auction House

The almost-forgotten, semi-secret, one-of-a-kind Wu-Tang Clan album, Once Upon a Time In Shaolin, is on its way to finding a buyer. During an interview with Forbes, RZA announced that the project will be sold through Paddle8, an online auction company that has worked with the likes of Damian Hirst and Jeff Koons.

Though there isn't currently a timeframe on when the sale of the project will happen, RZA did reveal that the group has plans to launch a website later this month that will include details on the album, as well as a partial tracklist. No word yet on what the album might go for at the auction, but RZA previously stated last year that he had already received an offer of $5 million for the project. Last month, rumors surfaced that Skrillex had purchased the album, but the producer later shot down those claims. Most recently, RZA and the legendary group have been promoting their album, A Better Tomorrow, which they released in December.

[via COMPLEX]