NEW YORK CITY — An extremely rare copy of The Federalist: A Collection of Essays, Written in Favour of the New Constitution raced past its estimate to claim top-lot honors in Heritage Auctions’ rare books auction on March 6; the total for the auction was $1,684,038.

Popularly referred to as The Federalist Papers, the auction’s top lot, by Alexander Hamilton, James Madison and John Jay, sparked a flurry of competitive bids before closing at $187,500, topping its high estimate by 150 percent. The two-volume set, still in its publisher’s boards, is considered by American historians to be the cornerstone of the new nation’s theory of government.

“These books are an important part of American history,” Heritage Auctions rare books director James Gannon said. “Written as part of the effort to ratify the Constitution, it made the case for Federalism and sought to convince the citizens of the states. Only about 500 copies are believed to have been printed, and this one is still is in the publisher’s boards, which is exceedingly rare.”

The price includes the buyer’s premium. A full review will appear in a future issue. For further information, visit www.ha.com or call 877-437-4824.