British auction house Christie’s will accept bitcoin and ether for an painting estimated to be worth $ 6 million. The digital wallet used to pay for the painting should be kept with one of the approved depositories, such as Coinbase, Fidelity, Gemini or Paxos.
Pay for paintings with Bitcoin at Christie’s
Christie’s, one of the world’s largest auction houses, will accept cryptocurrency for a Keith Haring painting at its ’20th / 21st Century’ auction in London next week.
Katharine Arnold, co-head of post-war and contemporary art for Christie’s in Europe, told Reuters the painting “is probably the very first example we see of an artist celebrating the computer.” She said: “It was in 1984 that Apple Macintosh was launched for the first time. So it really is a piece of history. Arnold added:
So the potential to pay in cryptocurrency for the full hammer price and buyer’s premium was something that made it seem like a perfect match.
The painting has an estimated value of 3.9 million pounds to 4.5 million pounds ($ 5.42 million to $ 6.25 million).
Two cryptocurrencies will be accepted. “Payment in ether or bitcoin must be made via a digital wallet transfer from that currency to Christie’s,” describes the auction house’s website, noting that partial payments from multiple digital wallets will not be authorized.
However, the digital wallet used must be held with one of the following custodians: Coinbase Custody Trust, Coinbase, Fidelity Digital Assets Services, Gemini Trust Company, Gemini Europe Ltd., Gemini Europe Services Ltd., Paxos Trust Company, Digivault Ltd ., Ziglu Ltd., or Archax Ltd.
Christie’s pointed out:
Only payments sent from digital wallets held on these platforms will be credited towards this bundle purchase, and we will not recognize payments from digital wallets hosted on other exchanges or self-hosted wallets.
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