Sotheby’s accepts anonymous $12.3 million crypto payment for rare 101 carat diamond

by Gordon James

An anonymous bidder won a 101.2 carat diamond—the biggest and rarest gem in the world—at the Sotheby’s auction in Hong Kong. The diamond, known as the Pink Star, shattered the record for the world’s largest uncut diamond when it came up for sale in Geneva in March. The buyer, who paid $12.3 million, has requested to remain anonymous.

Cryptocurrency enthusiasts and investors keep an eye on the amount of money being spent on cryptocurrencies, now that Bitcoin’s value has reached a record-breaking high of $7,500 per coin. The surge in value has greatly increased the demand for new coins, and investors can buy into them via private transactions.

Summary of the situation

– Sotheby’s makes the largest payment with cryptocurrency at diamond auctions.
– Auction houses are accepting bitcoin as payment and even holding events with NFT.

A secret diamond lover bought a rare 101-carat diamond worth $12.3 million. A few days ago, this case was auctioned in Europe, under the protection of Sotheby’s. The auction house sells its assets in exchange for cryptocurrencies using primary tokens.

This diamond sale set a new record among auctions with decentralized currencies. In June, China’s auction department announced it would promote cryptocurrencies among its most coveted items. Diamond has a distinctive shape and is considered the most important and durable diamond in the world.

The agency said it would accept Ethereum and Bitcoin, although the token was not disclosed in a recent transaction. Although it is suspected that an American or European billionaire is involved, the buyer of the diamonds has remained anonymous.

Sotheby’s accepts crypto payments for all merchandise

As the vice president of the auction house says, he is proud of this sale. This old diamond stands out for its size and brilliance, but it could not be sold before the financial market recovered.

The coin, called Key 10138, is the largest diamond ever displayed at the agency. The goods came from Dinacore, one of the largest diamond importers.

However, the 10138 is not the only pear-shaped diamond on the market, as there are several favorites. On the one hand, there is the Cullinan and the African Star, which are held in London.

Crypto payment will continueauctions

Cryptocurrencies are used in these hijacking cases. This sale attracted both classic and new collectors. However, Sotheby’s has not made an unofficial announcement about which items will be made available with a payment in cryptocurrency.

In May, Sotheby’s sold Love in the Air for $12.9 million, again to an anonymous buyer. The agency has entered the crypto payments space, but is also exploring the world of NFT. Thanks to these decentralized payment methods, the value of auctions could rise in the coming months.

Auction houses like Christie’s will also accept cryptocurrencies as payment for their latest works. In June, the agency sold Keith Haring’s work for $6 million.

Payments in cryptocurrencies are also used in the real estate industry and as a common form of payment between companies. The cryptocurrency market is growing as auctioneers and companies become aware of its potential.

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