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 jeweler is relocating his Beverly Hills store after 20 years and has begun developing a lifestyle brand.

It’s the company’s seventh showroom opening this year.

Rio Grande provides a pathway to responsibly sourced gemstones.

The Belgian organization is calling for entries from all over the world, with an eye on attracting emerging talent.


Sherry Smith digs into year-to-date data on lab-grown vs. natural diamonds, the performance of colored gemstone jewelry, and more.

Associate Editor Lenore Fedow leads readers through the Italian jeweler’s works from the 1940s to the 2000s.

From laboratory-grown diamonds to design to country-of-origin, GIA's Alumni Collective™ has a seminar to suite your needs.

The NYPD is still searching for the four suspects who robbed Rocco’s Jewelry in the Bronx.

The jewelry trade show is taking place Aug. 14-16 at the Javits Center in New York City.

The sponsorship will help fund programs and initiatives in the upcoming year.

The jewelry giant said the acquisition will allow it to tap into a pool of customers who are younger, more affluent and ethnically diverse.

There were only 250 made available, selling for more than $50,000.

The British-based Swiss designer’s “Pottering Around” collection is for sale at Sotheby’s East Hampton starting this week.

It provides real-time diamond market analytics.

The diamond firm will give the donation at a ceremony in Namibia this month during a trip for select retail jeweler partners.

He was convicted last month after falsely claiming he had a deal with Costco in order to obtain millions in diamonds from LLD Diamonds USA.

Tough, vibrant, and full of personality, spinel is a perfect birthstone for August babies, Amanda Gizzi says.

Dorian Webb, one of the designers in the Emerging Designers Diamond Initiative, will be the first to work with Gemist.

The charity will hold its fifth annual fundraising day on Sept. 24.

The passionate gem lover helped bring more than 300 different varieties of stones to the gem trade.

The brand has attracted attention for its colorful, vintage-inspired pieces.

Marcelo Tau is the company’s new chief operations officer.

The jewelry designer founded her eponymous brand in 2015 after nearly two decades in the diamond industry.

Sponsored by HiBid

The watch seller comments on future demand, how the crypto crash impacted Rolex and Patek Philippe pricing, the supply recovery, and more.

It features fives sets of jewelry.