Mystery Shopper Spends $ 12.3 Million on a 101-Carat Diamond and Pays in Crypto

(CNN) – A 101 carat diamond became the most expensive jewel ever bought with cryptocurrenciesaccording to Sotheby’s, the auction house responsible for the sale.
The pear-shaped diamond was sold on Friday for the equivalent of $ 12.3 million, after the auction house announced that it was accepting offers in cryptocurrencies such as bitcoin and ethereum, in addition to traditional forms of payment. Sotheby’s declined to disclose which of the two cryptocurrencies had been used to make the purchase.

The diamond, dubbed “The Key 10138,” went to an “anonymous private collector,” according to a press release.

In a press release, Sotheby’s vice president for jewelry in Asia, Wenhao Yu, said the sale had attracted “new customers far beyond the traditional group of collectors.” He added that cryptocurrency purchases were attracting a “digitally savvy generation.”

The remarkably rare diamond is the second largest pear-shaped diamond ever to hit the market, according to Sotheby’s.

It is classified as a “D” color diamond, the highest grade awarded to white diamonds, which means that it appears colorless to the naked eye. It is also verified as internally and externally “flawless”, which means that it is completely clear and without visible defects. It is one of only 10 diamonds of its quality weighing more than 100 carats that ever appeared at auction.

Several auction houses have started welcoming cryptocurrencies for high-value items, including paintings and NFT, blockchain-backed tokens that are increasingly used to transfer ownership of digital artworks and collectibles.

The sale took place at Sotheby’s Hong Kong, although offers were accepted from around the world. Credit: Courtesy of Sotheby’s

Another auction open to cryptocurrencies

Earlier this year, Sotheby’s opened the sale of Banksy’s “Love is in the Air” for payment using bitcoin and ethereum. The famous artwork, depicting a masked man tossing a bouquet of flowers like a Molotov cocktail, eventually sold for $ 12.9 million, although the auction house did not reveal whether the buyer ultimately used a cryptocurrency.

In June, Christie’s also announced that it was accepting bitcoin and ethereum for an untitled work by Keith Haring. The painting, which depicts a figure with a computer instead of a head, sold for £ 4.3 million (almost US $ 6 million) although, again, the auction house did not disclose the method of payment.