Sotheby’s sells diamonds for $12.3 million in crypto

Sotheby’s has just broken the world record for most expensive jewelry ever sold in cryptocurrency. They auctioned off a 101.38 carat diamond for $12.3million of Bitcoin or Ether.

Yesterday, Sotheby’s announced the sale of the second largest pear-shaped, diamond ever sold to the general public. It was purchased in the crypto by the buyer, which is quite interesting.

Although the auction house didn’t reveal the name of the winner, updated information on its website indicates that the mystery bidder paid cryptocurrency for the diamond. Sotheby’s stated in June that it will accept Bitcoin and Ethereum as payment methods.

Diamonds worth $12 Million

Key 101.38″ was sold for approximately $12 million. This makes it the most expensive physical object ever to be auctioned using cryptocurrency.

The sale of NFT by Beeple, a digital artist, was a historic moment in cryptos. His “The First 5000 Days” work has been sold for over $69 million making it the most valuable digital artwork ever. Bepple was also one of the highest-earning artists in the world.

According to Sotheby’s information, the diamond was chemically analyzed and classified as type IIA. This is the purest chemical type, often distinguished by extraordinary optical clarity. A certificate of authenticity was issued to the diamond.

The GIA report number 6193169635 is attached to the diamond. The GIA report No. 6193169635 states that the diamond is D color and flawless. Attached is a letter from the diamond classification stating that the diamond has been identified as type IIA. Type IIA diamonds are the purest chemically and optically pure types of diamonds. The GIA report also includes a monograph.

The auction was a live broadcast and attracted very few bidders. Reports indicate that less than a dozen bids were submitted to the auction.

 

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