Mystery Buyer spends $ 12.3M on a 101-carat diamond – and pays in cryptocurrency

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Mystery Buyer spends $ 12.3M on a 101-carat diamond – and pays in cryptocurrency

written by Megan C. Hills, CNN

According to Sotheby’s, the auction house behind the sale, the 101-carat diamond has become the most expensive jewelry ever bought with cryptocurrency.

Pear Shaped Jewelry on Friday. Sales reached 12.3 million, when the auction announced that it was accepting offers in Bitcoin and Ethereum in addition to the traditional payments. Sotobi will not disclose which of the two cryptocurrencies was used for the purchase.

According to a press release, the diamond, named “KG10138”, went to an “anonymous private collector”.

This is one of only 10 diamonds of its size and quality to appear in the mini auction. Credit: Thanks Sotby

In a press statement, Wenhao Yu, Sutbi’s vice chairman for jewelry in Asia, said the sale “has attracted more new customers than the traditional pool of collectors,” adding that cryptocurrency buyers He appealed to the “digitally savvy generation”.

According to Sotbi, the stone is the second largest pear-shaped diamond, which is very small in itself.

It is classified as a “D-colored” diamond, the highest grade given to white diamonds, meaning that it appears colorless to the naked eye. It is also certified “flawless” internally and externally, which means that the stain is clean without any blemishes. It is one of only 10 diamonds of this quality to weigh more than 100 carats at auction.

Numerous auction houses have begun to welcome cryptocurrencies for large-ticket items, including paintings and NFTs.
The sale took place in Sotby's Hong Kong, although bids were accepted from around the world.

The sale took place in Sotby’s Hong Kong, although bids were accepted from around the world. Credit: Thanks Sotby

Earlier this year, Sotheby’s began selling Banksy’s “In the Air in Love” for payment via bitcoin and Ethereum. The famous piece of art, featuring a masked man throwing a bouquet of flowers like a Molotov cocktail, eventually sold for 12 12.9 million, although the auction house did not disclose whether the buyer finally bought it. Used a cryptocurrency.
In June, Christie also announced that she was accepting Bitcoin and Ethereum for title work without Kate Haring. In this painting, which shows a figure with a computer, which sold for 4. 3.3 million (approximately ڈالر 6 million), although, again, the auction did not reveal the method of payment.

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