Sotheby’s, the British-founded American luxury auction house, has announced the company will be selling Banksy works for real-time bids in ethereum at “The Now Evening Auction” on November 18. While the upcoming auction will have pieces from highly acclaimed artists such as Mark Bradford and Yoshitomo Nara, Banksy’s “Love in the Air” and “Trolley Hunters” will be sold for ether “for the first time at auction.”
2 Banksy Paintings to be Sold at Auction in Ethereum via Sotheby’s Fine Auction House
In 2021, the fine auction house Sotheby’s has been in the thick of cryptocurrency payments and non-fungible token (NFT) collectibles. The auction house was initially skeptical about NFTs but decided in May to allow digital currency payments through Coinbase. In October, Sotheby’s launched the firm’s Metaverse Marketplace and Paris Hilton listed a few NFTs on the newly launched market.
On November 11, Sotheby’s announced the “The Now Evening Auction” will feature real-time auction bids in ethereum (ETH). Two Banksy art pieces will be auctioned for crypto assets. The auction will occur on November 18. “[Ether] Banksy Bid,” Sotheby’s wrote “For the first time at auction, Sotheby’s will be bringing down the hammer in ETH on two iconic Banksy paintings in The Now sale.”
The two Banksy paintings will be the infamous “Love in the Air” piece and the artist’s “Trolley Hunters” painting as well. “Love in the Air” is estimated to be worth around $4 to $6 million and “Trolley Hunters” could fetch anywhere between $5 to $7 million at auction. “You can’t miss Auctioneer Oliver Barker fielding bids in ETH for Banksy’s iconic paintings ‘Trolley Hunters’ and ‘Love is in the Air,’” Sotheby’s added.
Sotheby’s is not the only fine auction house in the world that has entered the galaxy of blockchain technology and cryptocurrency solutions. The luxury auction house Christie’s has been into blockchain, NFTs, and cryptos this year as well. Moreover, Sotheby’s is not the first luxury auction house to sell Banksy artwork for digital currencies. The well-known Phillips Auction House held an auction for Banksy’s “Laugh Now Panel” (worth $2.8 to $4.1 million) in May and would settle in cryptocurrency payments.
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