Dame Dash’s Roc-A-Fella Shares to Be Auctioned After Failed Sale Attempts
In a significant development within the hip-hop industry, Dame Dash's 33.3 percent ownership of Roc-A-Fella Records is slated to be auctioned off by federal authorities.
According to a report from TMZ, the U.S. Marshals Service will oversee the sale later this month, marking a noteworthy moment for one of the most iconic labels in rap history.
Dame Dash's Roc-A-Fella Shares Set for Auction Following Settlement Dispute:
The auction will be open to the public, but interested bidders must go through a registration process managed by the lawyer responsible for a 2022 judgment against Dash.
This requirement adds a layer of complexity for potential buyers looking to acquire a piece of hip-hop history.
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Bidding for Dash’s shares will begin with a minimum offer of $1.2 million. Moreover, any buyer will need to provide a deposit of 20 percent of the final sale price upfront.
This hefty price reflects the enduring value of Roc-A-Fella, a label that launched the careers of major artists and produced classic albums that shaped the genre.
One notable album connected to Dash's stake is Jay-Z’s seminal debut, "Reasonable Doubt."
Released in 1996, the record is not only a cornerstone of Jay-Z’s illustrious career but also a significant piece of Roc-A-Fella's legacy.
Two years ago, "Reasonable Doubt" became embroiled in a legal battle regarding a proposed NFT sale, demonstrating its ongoing relevance and demand in the music landscape.
Recently, Dash indicated his willingness to sell his share of the album, further igniting interest in the auction.
Founded in 1994 by Jay-Z, Dame Dash, and Kareem "Biggs" Burke, Roc-A-Fella Records has been a powerhouse in the music industry.
However, financial pressures have led to this auction. Earlier this year, Dash was ordered to divest his shares to settle an outstanding debt of approximately $823,000.