Sotheby’s to extend cryptocurrency option for “Diamonds: The Dazzling” sale in September

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This September, Sotheby’s Hong Kong will extend the cryptocurrency option for the upcoming Diamonds: The Dazzling sale, following the success of Sotheby’s inaugural Luxury Edit sale series in Asia in July where a 101.38-carat diamond sold for HK$95.1 million / US$12.3 million to an anonymous crypto-buyer.  

A total of eight lots will be offered in the Diamonds: The Dazzling  sale at Sotheby’s Hong Kong on 24 September 2021, with bidding open online from 7 September. While fiat currency will be accepted as is customary, payment in Ether, Bitcoin or USD Coin will also be possible – facilitated through Coinbase Commerce, one of the world’s largest cryptocurrency exchanges.

The sale is led by a magnificent Harry Winston diamond necklace (est. HK$36 – 46 million) which will be auctioned with cryptocurrency as an accepted method of payment. With a total of 177.51 carats, this necklace is a masterpiece of true opulence.  Designed as a cascade of diamonds, the nine graduated pear-shaped stones at the front, all D colour and Internally Flawless, have been meticulously selected to match the standard of quality that is paramount to the Harry Winston brand.

a magnificent Harry Winston diamond necklace

 

Credit: Sotheby’s

Whether it is destined to be an engagement ring or a custom-designed jewel, purchasing a loose diamond allows you to create your dream setting. This auction has a starting bid at HK$1 million on selected lots including classic shapes such as 10.88ct, 11.88ct and 12.88ct. Other exquisitely cut diamonds range from 8.08ct to 50.05ct, all D colour, up to Flawless clarity – to cater to the taste of the most discerning collectors.

Strong Results for White Diamonds

Diamond has long been a unique category in asset portfolios that has shown great resilience during uncertain times. The demand for top quality white diamonds, and for luxury items more generally, is particularly strong, with 80% of the white diamonds offered in Sotheby’s Magnificent Jewels auctions this year having found buyers, and 30% of buyers in its luxury sales completely new to Sotheby’s.  In addition to the 101.38-carat diamond sold in Hong Kong this July, Sotheby’s also set a new record price for any jewel sold in an online auction, with a 50.03 carat round diamond — offered without reserve – achieving US$2.7 million at Sotheby’s in June.