1988 Newsweek mag signed by Steve Jobs fetches $50K at auction

According to a report by CNET, a 1988 Newsweek magazine signed by Steve Jobs managed to fetch an incredible amount at auction last week. The magazine was expected to go for between $10,000 and $15,000 but ultimately brought in $50,587.

However, the story behind the magazine may be even more outstanding than the price. Diane Williams from Escondido, California, met Jobs back in October 1988 while working as a senior buyer for Lotus Development. When attending the unveiling for the NeXT computer, she met Jobs and asked him to sign her copy of Newsweek that had him on the cover. “Steve Jobs puts the ‘wow’ back in computers,” the magazine cover read.

Jobs told Williams that he didn’t do autographs, so instead she asked him to “write something from your heart then.” Jobs preceded to to write “I love manufacturing” on the cover and then signed his name.

In an interview with Williams, she remarked that “time stood still” while she was talking to Jobs and on her decision to auction it, she explained that she wants the magazine to be put in a display for others to see:

“Never in my wildest dreams did I ever imagine that I would let it go. But it needs to be let go,” she said. “I hope that it’s going to be an organization or an institution that puts it on display for others to be able to see.”

“It needs to be honored [through the purchase],” she said. Plus, she quipped, “Nothing’s free — especially what they charge.”

Autographs by Jobs in the past have tended to go for anywhere around $19,600 and $40,000 but it was this anecdotal story that led to the $50K+ price. The winner was an anonymous collector from Chicago so its unclear as to what the future holds for the magazine at this point.

Meanwhile, Steve Jobs’ iconic BMW Z8 will go up for auction in December through a New York-based firm, expecting to reach between $300,000 and $400,000.

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