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 Latest

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.

The time to start experimenting with video content is now, writes columnist Emmanuel Raheb.

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.


The auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.

The company also noted record sales in the United States and a strong performance in its jewelry category.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

The event, set for June 13-15, will feature educational presentations and guided visits to the state’s sapphire mines.

After the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.

The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.

The rapper and singer-songwriter will perform at Tao Beach on June 8.

“Conversations with Chris Ploof” covers tips for men buying wedding bands, behind-the-scenes footage of Ploof in his studio, and more.

As lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.

The moves are part of the retailer’s new turnaround plan, “Grow Brand Love,” which also includes emphasizing brand loyalty over store banners.

The “Rush Hour” campaign stars Zoë Kravitz in bold, wearable pieces designed to make a statement in the workplace.

Breitling is reviving Gallet, which was founded in 1826 and is known for making watches used in the early days of long-distance travel.

The American Gem Society now offers a Jewelry Evaluation Advisor designation as well as an updated Certified Sales Associate designation.

Rebecca Zeijdel-Paz created more than 75 new pieces for the residency, which will be on display at Trove’s store in New York through April.

Smith explores why a qualified candidate might still not be right for the job.

The company and its marketing agency, Loudr, were recognized for the “Make You Dance” marketing campaign.

The “Series8” and “Attesa” collections will be grouped under Citizen Premier.

David Fager, a former systems engineer at the retailer, was promoted to the role.

From retailers to designers and the media, the fine jewelry industry recognized one another’s work and looked to the future.

Eleanor H. Yeh is the recipient of the eighth annual Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design.

Joseph Cavalcante takes on the dual role as the Spanish jewelry brand looks to expand further into the U.S. market.

The trade show has also upgraded its venue to the Caesars Forum Conference Center.