Dame Dash recently revealed that no one attended the auction to bid on his one-third ownership stake in Roc-A-Fella Records.
Dash was forced to auction off his stake to satisfy a $823,000 judgment against him. The minimum bid was set at $1.2 million, a figure that seemed reasonable considering the potential value of the assets. However, no one stepped forward to make a bid. This lack of interest has led Dame Dash to question the perceived value of Jay-Z‘s legacy.
“The state made a bid for it—one million dollars—and that’s really what it’s worth,” Dame said. “What this taught me is that, in the world, [JAY-Z] isn’t as big as he portrays. I thought more people would be interested in buying it because of the art value. That’s the only thing I was selling.”
Dame expressed disappointment over the lack of interest, particularly given JAY-Z’s celebrated legacy. Comparing it to the Wu-Tang Clan’s cult following, he remarked, “Wu-Tang is loved. People value them a certain way… there was no love [for JAY-Z]. It didn’t even get market value.”
Dash also noted that major companies known for buying music catalogs for hundreds of millions passed on the opportunity to bid. Rumors swirled that Drake had considered offering $6 million, partly to spite JAY-Z, but the offer either never materialized or was withdrawn.
Jay-Z’s Alleged Efforts to Undermine the Auction
Adding to the controversy, Dame accused JAY-Z of trying to manipulate the auction process. Court filings revealed that attorneys for New York City claimed JAY-Z and others made “false” claims about an impending copyright termination to devalue Dash’s stake. According to the filings, JAY-Z suggested that the rights to Reasonable Doubt would revert to him in 2031, limiting the long-term value of any purchase.
“Jay-Z’s statements to the press have poisoned the environment for the auction,” wrote Gerald Singleton, an attorney for the city, requesting a ruling to clarify whether the copyright termination was valid.
While the alleged tactic may have succeeded, Dame questioned why JAY-Z didn’t simply purchase the share himself. “Jay didn’t even make a bid. He didn’t even want his own sh*t. He didn’t think it was worth $3 million,” Dame said.
Did Jay-Z Tell People to Back Off?
"Drake put in a bid for $6 million, but then he disappeared."
— The Art Of Dialogue (@ArtOfDialogue_) November 18, 2024
Dame Dash reveals nobody showed up to the auction to buy his one-third stake in Roc-A-Fella Records, which includes rights to Jay-Z's Reasonable Doubt, and says Jay-Z portrays himself to be bigger than what he really… pic.twitter.com/PiHd8dMfh6