Glendale auction house to sell famous 26-pound gold nugget

A Glendale auction house will soon put a heavy, historic nugget of gold on the block: the Boot of Cortez, which is shaped like a conquistador’s boot.

The auction for the 26.2-pound golden nugget will begin at EJ’s Auction & Appraisal in Glendale on June 12.

The historic nugget, which a prospector discovered in Mexico with a Radio Shack metal detector in 1989, has been in a private collection since the current owner bought it in 2008 for $1.3 million. This was around four times the value of gold at the time.

Based on current rates, 26.2 pounds of gold is worth $1.8 million, but the Boot of Cortez is expected to fetch much more. EJ’s Auction appraisers set the value between $3 million and $7 million.

Here are some of its features:

• Weight: 383.1 troy ounces (11.9 kilograms)
• Height: 10 3/4 inches (27.3 centimeters)
• Width: 7 1/4 inches (18.4 centimeters)
• Condition: Pristine

Bidding registration for the 98% gold nugget is open through June 9. Bidding will start at $1 million.

Potential buyers have to submit a questionnaire, along with a $100,000 deposit, to sign up. Bids can be submitted in person or online.

EJ’s Auction will host a public viewing of the Boot of Cortez, which is considered the largest existing gold nugget found in the Western Hemisphere, on May 20 from 10 a.m. to 3 p.m. The auction house is located at 5880 W. Bell Road.

Related

Barrett-Jackson's 54th Scottsdale auction draws 6,500 bidders, nearly 2,000 collector vehiclesArizona unemployment rises despite faster job growthArizona Boardwalk breaks ground on new Hyatt Place Hotel at Talking Stick ResortArizona events give residents chance to adopt trained, untrained wild burrosConstruction begins on 1.1 million-square-foot warehouse in PhoenixIce cream shop moving into historic Tempe home after $500K city restoration