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Sotheby’s Auction House Offers Rare Diamond to be Purchased with Crypto
Last Updated: January 17, 2022
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NYC’s auction house Sotheby’s has listed a luxurious diamond The Enigma that can be purchased via BTC, ETH, or USDC.
Founded almost 300 years ago in London, later turned into a multinational corporation, the Sotheby’s Auction House is one of the world’s largest brokerage of rare items.
Sotheby’s rare diamond is being displayed across the world, with the first stop being Dubai, then Los Angeles and London. This particular black diamond is 555.55-carats and has never been shown to the public or sold. In fact, it is in the Guinness Book of World Records for being the largest diamond in the world.
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According to a statement by Sotheby’s, they’ve decided to list "the Enigma" for purchase in crypto, because they were able to sell a rare gemstone for $12.3M in virtual currency back in July of 2021. This gemstone is expected to reach a bid of up to $6.8M.
With cryptocurrencies gaining more traction in recent years, multiple auction houses started accepting digital assets as an alternative way to bid and purchase rare collectibles.
Likewise, the integration of cryptocurrencies into auctions may be linked to the booming popularity of art-based digital assets, known as NFTs, which, just like rare gemstones, are usually purchased for their rarity and demand.
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