A Private Collector Used Cryptocurrency To Buy This Diamond
It is a 101.38-carat D flawless stone that sold for more than $12 million at Sotheby’s Hong Kong.
The diamond, a pear-shaped 101.38-carat D flawless stone dubbed “10138 The Key,” sold for $12.3 million. Sotheby's is not disclosing whether the buyer paid in Ether or Bitcoin, the two types of cryptocurrency it was accepting for the sale.
The sale price fell in the middle of the diamond’s $10 million-$15 million estimated range.
The auction house said it is the highest price achieved for any gemstone or piece of jewelry purchased using digital or virtual currency, though it’s not the first pricey auction item to be offered or sold this way.
In March, the buyer who paid a record $69.3 million for the NFT “Everydays—The First 5,000 Days” by digital artist Beeple paid in Ether (a type of cryptocurrency) and Phillips said it would accept Ether or Bitcoin for a painting by Banksy it sold last month.
Sotheby’s said the 101.38-carat diamond is the second-largest pear-shaped diamond of this quality ever sold at auction, narrowly topped by the D flawless 101.73-carat “Winston Legacy” sold in 2013.
Sotheby’s offered the stone in a single-lot live jewelry auction held Friday in Hong Kong.
It was the highlight of the auction house’s inaugural “Luxury Edit” sale series in Asia, offering high-end goods across various categories.
Remarking on the diamond’s sale, Wenhao Yu, deputy chairman of Sotheby’s Jewellery in Asia, said: “We are thrilled to witness a historical moment, when one of the Earth’s oldest and rarest treasures was purchased using humanity’s newest universal currency.
“By introducing this innovative payment option to our luxury sale, we open up new possibilities and expand our reach into a whole new clientele, many of whom are from the digitally savvy generation.”
The wedding band company is also accusing its former customer of removing watermarks from Lashbrook images for its own use.
Without the ability to instill confidence within the industry and directly to the consumer, a diamond holds very little value.
It provides a timeline for the implementation of new restrictions, but no details.
Sherry Smith breaks down the numbers on jewelry sales in November and reveals the category that “emerged as a standout.”
With holiday proposals right around the corner, encourage your customers to go for platinum when making the big purchase.
Peter Damian Arguello, the owner of Peter Damian Fine Jewelry & Antiques, was shot and killed in an apparent robbery last week.
The Indian jewelry giant has opened locations in Houston and Frisco, Texas.
Each student was provided with the full amount of tuition for the Namibia University of Science & Technology.
The watch seller’s new index tracks sales data from 14 brands, including Rolex and Patek Philippe.
The lab-grown diamond brand also collaborated with the website The Future Rocks on a collection launching today.
It’s the hero piece of the newest "Green Jewel" collection, a collaborative offering from the two mines.
Chris Cramer, who also spent time at Gen Z intimates brand Parade, will take on the dual role.
The retail offering lets customers track their diamond’s journey.
The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.
From Thanksgiving through Cyber Monday, 200.4 million consumers shopped online and in stores.