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Sotheby’s diamond auction : a new twist for bitcoin

Sotheby’s diamond auction : a new twist for bitcoin

A rare diamond that could fetch up to $15 million is going to be auctioned off next month. And the special thing is that it will be possible to use crypto-currency to acquire it.

 

The American multinational Sotheby’s is organizing this auction. The pear-shaped diamond is one of the ten diamonds over 100 carats ever put up for auction. It is the second to have this shape. The pre-sale estimate is $10 million to $15 million. Bitcoin or ether, as well as traditional money will be accepted by the auction house.

 

© Sotheby’s

 

This is the first time such a diamond has been offered for public purchase in crypto-currency. Never before has a physical object of such value been available for sale with a crypto-currency as well. 

 

 

“A truly symbolic moment.”

 

Despite a volatile year, punctuated by explosive growth and major drops, crypto-currency is gaining momentum. In the United States, the Republican National Congressional Committee has been accepting crypto-currency donations since last week. El Salvador became the first country to adopt Bitcoin as a legal currency last month. 

 

For Patti Wong, president of Sotheby’s Asia “This is a truly symbolic moment. The oldest and most iconic denominator of value can now, for the first time, be purchased using humanity’s last universal currency.” 

 

See Also

Sotheby’s had sold a Banksy for $12.9 million in crypto-currencies last May. A first in the case of a physical work of art. 

 

The auction will take place on July 9 in Hong Kong. 

 

Read also > Bitcoin, invested as the only currency in a luxury village

 

Featured Photo : © Sotheby’s

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