Home Cryptocurrency Sotheby’s will accept Ether and Bitcoin as payments for a diamond valued at $15 million.

Sotheby’s will accept Ether and Bitcoin as payments for a diamond valued at $15 million.

by Gordon James

Sotheby’s is a global auction house, founded in 1744 in London. It is one of the world’s oldest and most reputable auctioneers. In June 2017, the New York auction house will host its “Blockchain and the Distributed Ledger: Art, Sports and Real Estate” event. The event will be held at its New York offices and will focus on how blockchain technology is being applied to the global art and real estate markets. The two-day event will feature some of the world’s leading experts on the subject.

In 2018, Sotheby’s offered a special auction for a diamond in the crown called the Argyle Diamond. The auction was open to the public, and it was announced that Ether and Bitcoin would be accepted as payments for the diamond. This was just the first of many blockchain-based auctions that the auctioneer has planned.

This week, Sotheby’s held an auction for a diamond with a price tag of $15 million. For those who aren’t familiar with the firm, Sotheby’s is a reputable auction house that deals in rare and expensive art pieces. In fact, the auction house has held auctions for some of the most expensive paintings and jewels in the world. This week, Sotheby’s held an auction for a diamond known as the Graff Diamond, which was purchased for $15 million.

Summary of the situation

– Luxury auction house Sotheby’s will allow payments via Ether and Bitcoin during its diamond sale in Hong Kong in July.
– It is a pear-shaped diamond weighing 101 carats and estimated to be worth $15 million.

Luxury auction house Sotheby’s is holding a diamond sale in Hong Kong in July and is already accepting payments in cryptocurrencies. It is a rare pear-shaped diamond of 101 carats, estimated to be worth between $10 million and $15 million. The auction house has accepted pre-bids for artworks by NTF and Banksy.

Sotheby’s accepts Ether

Sotheby’s is the world’s largest luxury auction house. This auction house is now accepting bitcoin and ether as payment for a rare 101-carat diamond.

The diamond is called The Key 10138, is pear shaped and weighs 101.38 carats. It is classified as a flawless and chemically pure diamond, making it a rare diamond. The sale is scheduled for July 9 in Hong Kong and is expected to raise between 78 and 118 million Hong Kong dollars.

The luxury auction house said it would accept payments in cryptocurrencies, specifically Ether and Bitcoin for a diamond. Sotheby’s accepts bids during the live sale or prior to the auction.

The 10138 key is the first diamond in the world to be considered a large diamond and will be sold at a cryptocurrency auction. It has been named key 10138 to symbolize a new era in the development of cryptocurrencies and technology. A statement on the Sotheby’s online auction says it is a key to world history.

Sotheby’s is open to crypto-currencies

Auction house Sotheby’s has already shown to be open to cryptocurrencies as a means of payment. There was a sale of Banksy art in May and an auction of non-playable tokens called CryptoPunk, or NFT, which took place in early June. The Covid alien game characters, CryptoPunk, sold for $11.8 million.

Digital currencies have been one of the main drivers of auctions this year, following a boom in digital assets over the past 18 months.

Until now, this luxury auction house limited itself mainly to artworks, digital collections such as NFT and diamond sales. This marks an important milestone for the cryptocurrency world, allowing other auction sites to accept cryptocurrencies like Ether and Bitcoin.

Many experts and relevant authorities point out that the volatile cryptocurrency market poses a risk to businesses and investors. Every day, cryptocurrencies are becoming more and more accepted as a means of payment around the world.

On its Twitter page, Sotheby’s described the sale as an important moment for the development of the market and trade.

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