Prestigious auction house Sotheby’s has announced that it will accept bids for Ethereum (ETH) in real time for its November 18 auction, which includes works by famous street artist Banksy.
Sotheby claims that this will be the first time that the auction house has accepted real-time cryptocurrency as the standard currency for auction payments for physical artwork. Evening Auction now features Banksy Wagon Hunters and love is in the air.
Although bid prices will be announced in ETH, deal winners can pay to work in Ether, Bitcoin (BTC), or USD (USDC) coins.
Banksy Card Hunters
Sotheby’s first started accepting BTC and ETH as cashback payments in May for another Banksy auction. He has provided financial support for NFT projects, including providing seed funding for the NFT studio and the Mojito blockchain platform. In October, he also launched the Metaverse-themed NFT platform with Pranksy, PleasrDAO, Paris Hilton, and others as coordinators.
However, Sotheby’s is not the only auction house dedicated to cryptocurrency and blockchain.
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Competing auction house Christie’s was the first to pay ETH at a CryptoPunks auction last May. Christie’s also sold 5,000 Days to Pebble for $69 million.
Phillips accepted ETH and BTC at its auction for Banksy’s Laugh Now Panel A, which sold for more than $3 million last June.