Sotheby’s To Accept Cryptocurrency For The First Time As A Payment Method For A Rare Diamond

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Sotheby’s To Accept Cryptocurrency For The First Time As A Payment Method For A Rare Diamond


Sotheby’s has said it will accept cryptocurrency as a form of payment for a rare diamond expected to fetch more than £ 10million.

This will be the first time that such a precious stone will be available for purchase using cryptocurrency, said the broker.

Traditional currency will still be accepted but the buyer of the 101.38 carat pear diamond will also be able to use Ether or Bitcoin.

The diamond, known as The Key 10138, is one of 10 diamonds over 100 carats to be auctioned.

It will go on sale live at a lot in Hong Kong on July 9, with an estimated selling price of $ 10 million to $ 15 million (£ 7.1-10.7 million).

Yu Wenhao, Vice President of Sotheby’s Jewelery in Asia, said: “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.

“There has never been a better time to bring a world class diamond like this to market. “

The diamond belongs to Type IIa, a rare subgroup comprising less than 2% of all gemstone diamonds, Sotheby’s said.

Perhaps the most famous pear-shaped diamond is the Cullinan I, which is kept in the Tower of London and mounted in the Imperial Scepter.

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