Sotheby’s Crypto Diamond sells for $ 12.3 million – WWD

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Sotheby’s on Friday set the highest price reached for any jewelry or gemstone purchased with cryptocurrency, selling “The Key 10138” for HK $ 95.1 million or $ 12.3 million to a private collector anonymous in a historic single lot auction.

The object is a 101.38 carat pear-shaped D Flawless mined by Diacore and is the second largest pear-shaped diamond to ever appear on the public market. According to Sotheby’s, only ten diamonds over 100 carats have ever been auctioned.

The auction house had promoted the offer saying it was the most valuable item ever offered for purchase with cryptocurrency, although traditional payment methods are also available.

“We are delighted to witness a historic moment when one of the oldest and rarest treasures on the planet was purchased using humanity’s last universal currency,” said Wenhao Yu, vice-president. president of Sotheby’s Jewelry in Asia, adding that the sale has attracted the interest of clients beyond the traditional pool of collectors.

“By introducing this innovative payment option into our luxury sale, we are opening up new possibilities and expanding our reach to a whole new customer base, many of whom are in the digital savvy generation,” said Yu.

Sotheby’s Key Courtesy 10138

It seems that not only the choice of currency is starting to change among wealthy collectors but, especially after the pandemic, but also the openness to digital sales. Last month, Sotheby’s New York set a new record for any jewelry sold at an online auction, with a 50.03-carat round diamond reaching $ 2.7 million.

Related:

Strong diamond market prompts Sotheby’s to offer 101.38-carat stone for purchase with cryptocurrency

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