With the title as high as the world’s biggest and rarest diamond, expectations similarly come along as well. And Sotheby’s seems to be living up to it.
‘The Enigma’, which was declared as the largest cut diamond in the world in the 2006 Guinness Book of World Records was recently put on display in Dubai where the world got a closer look at it.
‘The Enigma’
While its origins cannot be determined for sure, it is said to be extraterrestrial, owing to its size and form. The 555.55-carat diamond is presumed to be the result of either a meteoric collision or the remnant of an actual black diamond-bearing asteroid.
Although the diamond in itself is a big deal, the bigger highlight is that it is scheduled to be auctioned off next month by Sotheby’s for cryptocurrency.
The art and luxury marketplace which was established 277 years ago has embraced the emerging digital currencies as this auction marks the second time a non-NFT, a luxury object is being sold via cryptocurrency.
The marketplace has given interested bidders the option to bid using either Bitcoin, Ethereum, or USDC. While their adoption is still limited to the topmost cryptocurrencies it is a step in the right direction.
Valued at $12.3 million the diamond could end up being sold for either 294.32 BTC, 3916.5 ETH, or 12.3 million USDC based on the current price of these cryptocurrencies.
As the overall market aims for recovery with price indicators signaling a rise within the next week, these figures could change for good or bad by next month.
This is why The Enigma is the one and only…
While black diamonds are found naturally, they aren’t found in this size. But what makes it unique is also the financial aspect of its sale, involving cryptocurrency.
Although the world hasn’t seen anything as such before, they have witnessed the sale of a diamond via cryptocurrency before.
Last year, in July Sotheby’s, sold a 101.38-carat diamond ‘The Key 10138’ for $12.8 million in cryptocurrency, marking a milestone for digital currency’s adoption.
Sotheby’s decision to accept cryptocurrencies came after it sold the once most expensive NFT from the CryptoPunk collection for $11.8 million back in June 2021.
Thus the upcoming auction would mark another significant achievement for the world of crypto should The Enigma be bought using it.
This article was originally posted on FX Empire
