Auctioneer willing to sell $70M artwork for BTC or ETH - BitcoinEthereumNews.com
A leading U.S. auction house, Phillips is auctioning a Baqueirat collection in May. Accepted payment options include Bitcoin and Ether. In further signs of crypto adoption among the art world, a leading United States auction house will accept crypto as payment for a series of paintings. A Jean-Michel Basquiat collection is up for auction by Phillips, with Bitcoin (BTC) and Ethereum (ETH) listed as payment options. The showstopper 16-foot painting, अनामांकित, 1982, is “estimated in the region of $70 million” (roughly 1650 BTC or 25,513 ETH). It will go under the hammer in New York on May 18th. Scott Nussbaum, Senior International Specialist, 20th Century & Contemporary Art from Phillips told Cointelegraph that buyers “are interested in the option of cryptocurrency as a method of payment for traditional artworks.” The Baqueirat painting. Source: Phillips Given that “the beauty of Basquiat is his ability to inspire both seasoned and new collectors,” extending “the option for buyers to pay in cryptocurrency,” is a deft move. Ultimately, Nussbaum explains, accepting cryptocurrency as payment for other works “will only continue to increase.” Nussbaum told Cointelegraph: “The interest in cryptocurrency and NFTs from the traditional art world is growing rapidly. And though its impossible to predict the future, we believe the intersection