Apple's founding documents have been sold at auction reaching a whopping $1.6 million and blowing away the $150,000 price the contract was estimated to fetch.

The three-document bundle consisted of a legal paper that saw Apple become a registered company, bearing the signatures of Steve Jobs, Steve Wozniak and Ronald Wayne; an amendment document; and a "Statement of Withdrawal" that saw Wayne sell his founding share in Apple for $800. Incidentally that share of the company would now be worth a cool $3.9 billion.

The buyer was a Mr Eduardo Cisneros, chief executive officer of Cisneros Corp, who snapped up the documents at Sotheby's in New York.

This auction comes on the back of the sale of the Apple I in 2010, the first computer built by Apple, which sold for $210,644. The recent death of Steve Jobs has perhaps had an impact on the final sale price and shows just how much the brand and, indeed, the founding members' heritage is still valued.