Sotheby’s to auction $ 15 million worth of rare diamonds, cryptocurrencies accepted – News Bitcoin News

Sotheby’s, the world’s largest auction house, is auctioning a rare, flawless 101.38-carat diamond, valued at $ 15 million, and cryptocurrencies are accepted.

Largest auction house accepts cryptocurrencies

Sotheby’s announced Monday that it is auctioning a rare pear-shaped diamond that can be bought with cryptocurrency on July 9 in Hong Kong.

Sotheby’s was founded in 1744 and described itself as the world’s largest marketplace for art and luxury. With a network of specialists spanning 40 countries and 44 departments, “we hold over 600 auctions annually and offer a cross-category selection of items that are available for immediate purchase through digital and physical shopping experiences as well as private sales,” says it on the site. Artprice.com’s ranked number one auction house by sales, followed by Christie’s.

The auction house stated that this is the first time that a diamond of this size or a physical object of such high value has been offered for public purchase using cryptocurrency. Bitcoin, ether and traditional money are accepted as means of payment.

Patti Wong, chairwoman of Sotheby’s Asia, said in a statement:

This is a truly symbolic moment. The oldest and most emblematic denominator can now be bought for the first time with the newest universal currency of mankind.

The name of the diamond is Key 10138. The auction house describes it as a 101.38 carat, pear-shaped, colorless, flawless diamond. It is one of only 10 diamonds greater than 100 carats ever to be auctioned. It carries a presale estimate of $ 10 to 15 million.

Sotheby’s began accepting cryptocurrencies via Coinbase back in May with Banksy’s “Love is in the Air” image at the Contemporary Art Evening Auction. The piece sold for $ 12.9 million.

What do you think of Sotheby’s accepting cryptocurrencies? Let us know in the comment section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

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