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Sothebys will auction a diamond over 100 carats on Friday, and while its large size and purity make it exceptional, it is also making the news as the auction house will accept cryptocurrency as a method of payment.
The diamond, called Key 10138, was named to symbolize the unlocking of a new era in commerce and technology, and therefore is a key to history, the company said.
It is expected to reach $ 15 million and the auction house will accept bitcoin, ether, or traditional forms of money for payment. Sothebys says it’s the first time that something of this size and value has been available for sale with cryptocurrency.
The diamond weighs 101.38 carats and has been classified as Color D and Type IIa. This type of diamond is said to be so rare that it represents less than 2% of all diamonds mined; they contain no detectable impurities of nitrogen or boron. It is one of ten diamonds weighing over 100 carats ever to be auctioned.
The auction will take place in Hong Kong on July 9.
Sothebys sold a Banksy artwork for $ 12.9 million in May, and it became the first physical artwork sold by a major auction house purchased with cryptocurrency.
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