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Sotheby's announces support for ETH bids in real-time

Sotheby's gets behind ETH. (Source: Sotheby's, Wikipedia)
Sotheby's gets behind ETH. (Source: Sotheby's, Wikipedia)
Sotheby's will hold The Now Evening Auction, to include some works by Banksy, on November 18, 2021 in New York. The house has announced that it will accept bids in ether (ETH) during this event. This is not the first time it has done so, but will be the first time it will take bids in the cryptocurrency in real-time.

The Sotheby's auction house's upcoming The Now evening event scheduled for November 18, 2021 is slated to list works that include Banksy's Trolley Hunters and Love Is In The Air. Those looking to acquire those pieces can now use all their ETH to do so. Furthermore, they can tender it just like any other currency while bidding.

This is because Sotheby's will introduce real-time bidding in ETH during its upcoming event. Furthermore, a winner can elect to make their payments in the same currency, or in the equivalent amount of Bitcoin (BTC) or USDC instead.

Established major auction houses may strike some as the last kind of places to exhibit crypto adoption. However, Sotheby's has been accepting BTC and ETH since May 2021, whereas Phillip's has also done so, in relation to another ~US$3 million Banksy work (Laugh Now Panel A).

Christie's, the house that sold Beeple's The First 5000 Days for US$69 million, has also auctioned a CryptoPunk off in ETH recently. All in all, it seems the traditional art world is rapidly moving to adapt to and evolve into the emerging world of digital currencies, not to mention NFTs, already.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2021 11 > Sotheby's announces support for ETH bids in real-time
Deirdre O'Donnell, 2021-11-14 (Update: 2021-11-14)