Major Auction House Christie’s Accepts Bitcoin for Painting worth Estimated $6 Million

About six million dollars’ worth of a painting will be showcased in an auction to be held by Christie – an acclaimed auction house of Great Britain. One of the interesting facts about this sale is that the purchase would be at liberty to pay for the painting either in fiat or through Bitcoin. In the case of payment by Bitcoin, the purchase would need to ensure that he or she has the wallet backed by either Gemini, Coinbase, Paxos, or Fidelity.

There has been a new trend adopted and followed by major auction houses of the world. The trend is that when auction houses are selling expensive items they are allowing a purchase to pay either in cash or through crypto.

Some two weeks ago, it was Sotheby who had initiated an auction of a very expensive diamond. For this auction, Sotheby too had decided that the payment could be made in crypto as well, depending on the purchaser’s wish. Now it is Christie, which apparently is a business rival of Sotheby, announcing acceptance of crypto as payment. Though Sotheby is in the business for three centuries, yet Christie has its own unique place throughout the world. It is one of the major auction houses in the UK.

It has been informed by Christie that their latest auction is coming soon. Within this auction, the auction house wishes to put up for sale a painting which was painted by an American artist, Keith Haring. Haring died at a very young age in 1990 when he was only 32 years old. However, he had left his art pieces which are worthless at this time.

The auction will take place next week at the 20th/21st-century event in the heart of London.

Katharine Arnold, who is the head of experts for Christie Europe said that Haring’s painting is priceless. The way the artist had captured the moment of a person being introduced to the computer for the first time is incomparable. The picture depicts how good Haring was and how many commands he had over his skills and profession.

While giving details about the background of Haring’s picture, Katharine told that the moment captured in the picture was of 1984. It was the time when the first Apple Macintosh machine was made public. The picture is a reminder of how life-changing things are incepted and who the reactions of first witnesses are.

The bid price of the painting has been kept at between 5 to 7 million dollars. However, the auction estimates that the painting could be sold for much more than that considering its historical nature. The payment can also be made by the purchaser in Ethereum or Bitcoin, at the purchaser’s convenience. The only condition precedent for crypto payment is that a certain type of wallet will be required for crypto payment purposes. Only four digital wallets relating to Gemini, Coinbase, Paxos or Fidelity will be accepted, clarified Christie.

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