The Key 10138 diamond, a 101-carat pear-shaped diamond named to “symbolize the unlocking of a new era in commerce and technology,” sold for $12.3 million in crypto.
A dazzling diamond selling for millions at auction is nothing new for Sotheby’s. Perhaps more surprising is the 247-year-old auction house allowing the buyer to pay in cryptocurrency.
The auction house announced last month that it would accept both bitcoin BTCUSD, +0.85% and Ether ETHUSD, +0.12% in addition to traditional payment for the diamond, although it did not disclose which crypto was used in the purchase of The Key 10138. The use of crypto will allow the auction house to reach a new clientele, “many of whom are from the digitally savvy generation,” Yu said in a press release.
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