If you happen to have $5.4 million in cryptocurrency lying around in an app somewhere, you could become the proud owner of a rare Keith Haring.
In yet another sign that cryptocurrency is taking over the high-end art market, Christie's and Sotheby's have announced that they are now accepting cryptocurrency for big-ticket items. The auction houses will now take Ether and Bitcoin, Artnet News reports, with more high art marketplaces expected to follow suit.
Ahead of its “London to Paris” sale on June 30, Christie's announced that the headlining artwork by Keith Haring will be offered with the option of paying with cryptocurrency. The painting is estimated at $5.4 million to $6.2 million and the untilted 1984 work is especially pertinent.
“As one of the earliest depictions in contemporary art of the home computer, it is well suited to a cross-over audience of digital art and traditional art collectors,” the auction house said in a statement.
Sotheby’s also announced yesterday that it will accept Ether or Bitcoin for its upcoming sale of a 101.38-carat, pear-shaped D color flawless diamond. With an estimate of $10 million to $15 million, it’s the highest price yet for a physical object on which it is accepting non-traditional tender. The auction house described it as the “biggest stride yet” for cryptocurrency.
After making strides in the digital art world, Sotheby's and Christie's are finally turning the table around, marking the first time that tangible seven-figure objects at auction can be bought with cryptocurrency.