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Key 101.38, a pear-shaped diamond weighing 101.38 carats. His estimate is $ 10-15 million
Sotheby’s
The rarity of a flawless D-color diamond over 100 carats is outdated in the manner in which the Sothebys auction house will accept payment for such a piece of jewelry.
The gemstone in question is The Key 101.38, a 101.38 carat pear shaped diamond with impeccable clarity and D color, the highest levels of color and clarity for a colorless diamond. In addition to fiat, the auction house will also accept bitcoin and ethereum as a means of payment for the gem.
His estimate is $ 10-15 million. This is the first time that cryptocurrency will be accepted as a means of payment in a public auction of a diamond weighing more than 100 carats. Additionally, no other physical item with an estimate even approaching that amount has ever been publicly offered for purchase with cryptocurrency, according to the auction house.
The live auction for the diamond will be held in Hong Kong on July 9. However, Sothebys is once again using its hybrid online and live auction process. The online auctions will open on June 25 and will culminate with the live sale.
The Key 101.38, a 101.38 carat pear-shaped D-Flawless diamond
Sotheby’s
It 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, Patti Wong, president of Sothebys Asia, said in a statement. There has never been a better time to bring a world class diamond like this to market.
The name of the diamond was chosen to capture both the past, the present and the future, Sothebys said, adding that historically keys, like diamonds, have been a symbol of power and the freedom that comes with them. This sale represents digital type keys essential to the functioning of the cryptocurrency.
Diamonds are keys to understanding the history of the Earth, reminding us of our human condition and the transcendent power of beauty, ”said Wenhao Yu, Vice President of Sothebys Jewelery in Asia. With the name The Key 10138, we wanted to celebrate this virtue enlightenment, while also hinting at the crucial function of digital keys in the world of NFTs and cryptocurrency.
D-Flawless diamonds over 100 carats are exceptionally rare, with less than ten examples having already been auctioned, according to Sothebys. Of this elite group, only two were pear shaped.
The sale of the diamond comes at a time when demand for white diamonds, especially of this quality, is high, according to Sothebys. About 80% of the white diamonds offered at Sothebys Magnificent Jewels auction this year have been sold, with 30% new buyers at the auction house.
Over the past year, we’ve seen a voracious appetite for jewelry and other luxury items from collectors around the world. This demand is increasingly coming from a younger, digital native generation; many of which are in Asia, said Josh Pullan, general manager of the Global Luxury division.
The diamond is the flagship lot in Sothebys’ inaugural Luxury Edit series in Asia, July 3-9, bringing together a variety of luxury items including jewelry, watches, wine, handbags and sneakers rare.
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