Sotheby’s to Accept Crypto for a 555-Carat Black Diamond (Report)

Half a year after a diamond was paid for with cryptocurrencies, Sotheby’s will host another auction for a rare 555.55-carat diamond that can be sold for digital assets.

• According to a recent Forbes report, the diamond in question is set to be the largest ever to appear at an auction this February.
• It’s a rare black diamond that has “never been publicly displayed or sold and has been held in the same collection for more than 20 years.”
• It’s called “The Enigma” and will be offered without reserve – meaning that it will go to the highest bidder without a cap on the maximum price.
• The giant auction house Sotheby’s estimated that it could go for up to $7 million. Interestingly, the buyer can opt to pay with cryptocurrencies during the auction.
• The coverage further informed that the Guinness Book of World Records called “The Enigma” the largest cut diamond in the world. The Gemological Institute of America and Gübelin, on the other hand, said it’s the largest fancy black natural color diamond.
• Ahead of the auction, which starts on February 3rd, the diamond will be shown for the first time in Dubai, Los Angeles, and London.
• It’s worth noting that Sotheby’s already sold a massive diamond for cryptocurrencies. As reported in July last year, an undisclosed buyer paid $12 million for one.
• Separately, the auction house invested $20 million in an NFT studio called Mojito.