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July 26, 2020 The draft for the design of the Olympic flag signed by Pierre de Coubertin, the father of the modern Olympics, was auctioned for 185,000 euros in the south of France."The design was sold to a Brazilian collector for 185,000 euros, plus 27% of expenses, for a total of 234,950 euros," said Alexandre Debussy, executive director of Cannes Enchères, where the auction took place.
Designed in 1913 by Baron de Coubertin, the project was handed over to one of his assistants and has since remained in the possession of his family until it was recently sold to a collector who put it up for auction.
The French National Sports Museum, which is based in Nice, also aimed to win the piece, but the sum put on the counter by the anonymous Brazilian collector was unattainable for the state institution.