Sotheby is the largest fine arts and decorative collectibles brokers in the world. The company has about 80 offices in 40 different countries. The biggest Sotheby offices are present in the United Kingdom as it was founded by Britain natives. However, at present, the main headquarters of the auction house is situated in the United States. The organization also arranges auctions for rare jewelry, artwork, and real estate.

The Asian branch of the enterprise is going to reveal the second-largest pear-shaped diamond in the world on 09 July. The unique thing about this auction is that investors would be able to take part in the bidding with cryptos like Bitcoin and Ethereum. This is the first time in history that crypto investors have been invited to take part in the sale of such an exclusive market.

Sotheby Chairperson Claims that the Rare Diamond Sale for Crypto Investors is a Symbolic Event

Patti Wong is the presiding chairperson of the Sotheby Asia Pacific region. In a new statement, she claimed that allowing crypto investors to take part in the rare diamond auction would go down in history as a symbolic event. According to the brief released by the organization, the rare diamond is 101.38 carat and pear-shaped. In a single-lot sale hosted live by the Hong Kong Sotheby management, it would find the new home.

Wong further added that one of the most ancient symbols of wealth and prosperity can now be purchased with the newest form of monetary products. This syndicate of old and new makes this event truly distinctive. The diamond would serve as the centerpiece during the Luxury Edit Series in Hong Kong. The series would include items like watches, handbags, sneakers, and other forms of rare jewelry.

Josh Pullan is the managing director for the Sotheby global luxury unit. Speaking on crypto exposure, she claimed that there had been an increasing demand for luxury products among the young generation since last year. She further explained that this young generation has dabbled its feet in the cryptocurrency market and earned a lot of spare cash to take part in these auctions.

Sotheby has already sold an NFT art created by pseudonymous artist Pak back in April. It also arranged an auction for a rare CryptoPunk NFT that sold for $12 million two weeks ago. It is now aiming to arrange a bidding event for the source code for the World Wide Web on June 23rd, 2021.