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- Sotheby’s will present a rare black diamond ‘The Enigma’ for auction in the coming months.
- Buyers can make payments via cryptocurrency, announced online auction house Sotheby’s
- Sotheby’s have been dealing in crypto for some time now and are also into Metaverse and NFTs.
A rare gem of 555 carat, which is a black diamond called The Enigma, has been in the same collection for 20 years is finally all set for auction. The gem might be sold between US$4.1 Million to US$6.8 Million at an auction in Dubai, hosted by Sotheby’s. The online auction house announced that it would accept payments in crypto assets.
The rare black diamond was named the largest and most extravagant black-colour diamond by the Gemological Institute of America and Gubelin in 2004. And two years later, according to the Guinness Book of Records, it was listed as the world’s largest cut diamond.
According to Sotheby’s, this diamond has an infrequent occurrence. And its origins are veiled with mystery. It might have been created from a meteoric impact or emerged from a diamond-bearing asteroid that collided with earth, making it a gem from outer space.
The online auction will start in February, but it will be displayed in Dubai(January 17-20), Los Angeles(January 24-26), and in Dubai(February 2-9).
The diamond is 555.55 carats and has 55 facets. Its design is inspired by the human hand and supposedly provides power and protection. It is a symbol of the Middle Eastern Palm of Kamsa.
Relations to the Crypto world
Sotheby’s is already into the world of cryptocurrencies, Metaverse, and NFTs. Hence, the acceptance of cryptocurrencies as a form of payment for this rare diamond was not very unexpected.
To date, the most expensive payment for a gem in cryptocurrency was made for The Key 10138 diamond when the jewelry market dealer sold it for $12.3 million. In Fact, in November, two paintings by a mysterious artist Banksy were sold by the auction house. They were valued at approximately 3,100 ETH. Hence, Sotheby’s is not only an auction house transacting in cryptocurrency. Christie’s sold rare NFTs in September 2021.
Sotheby’s presented a live streaming auction in June 2020, and this event was simultaneously watched by a massive number of people worldwide. It connected New York, London, and Hong Kong. It was due to covid restrictions in 2020 that Sotheby’s involvement with the Digital world began.
This auction will be an interesting one because a rare black diamond is at sale this time. The popularity and number of audience this event attracts will be interesting to see.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
