Connect with us

Digital Assets

101 Carat Diamond Sells for $12.3M in Crypto via Sotheby’s Auction

Updated on

In a recent event hosted by world-renowned auction house, Sotheby’s, cryptocurrency was used by an anonymous buyer to purchase a diamond known dubbed ‘The Key 10138’.

The auction, which garnered significant attention, saw the diamond sell for roughly $12.3M USD, with the winning bid paid in either Bitcoin or Ethereum (Sotheby’s has only indicated that a cryptocurrency was used – not which one).


This event marked the largest gemstone/cryptocurrency transaction known to date, and points to a growing trend of cryptocurrencies being used for large-scale purchases at auction houses.

The Key 10138

The diamond which was sold in the aforementioned auction is a remarkable gemstone.  Sotheby notes that it is 1 of only 10 diamonds of its ilk to pass through the auction house.  The following are a few of the key characteristics which justified the $12.3M winning bid.

Measurements37.35 x 25.55 x 15.73 mm
Carat Weight101.38 carat
Colour GradeD
Clarity GradeFL
SymmetryVery Good


Essentially, the diamond is of the highest quality in nearly every regard.  Not only is it staggering in size, but flawless and pure.

Beyond the sale of this particular diamond, blockchain is playing an increasing role within the gemstone industry.  In the past few years, multiple projects have been launched which are aimed towards authenticating the quality and origins of gemstones.  One such project which sees participation from the worlds largest diamond companies (De Beers, Signet, Etc.), is known as Tracr.

A Perfect Outlet

Auction houses have proven to be a perfect avenue for showcasing the benefits of Non-Fungible Tokens (NFTs), and cryptocurrencies like Bitcoin.  These events typically entail transacting huge sums of money, and are not overly time-sensitive.

The following are a few other examples of past blockchain-based items which were auctioned off for sizable sums of money.

Advertiser Disclosure: is committed to rigorous editorial standards to provide our readers with accurate reviews and ratings. We may receive compensation when you click on links to products we reviewed.

ESMA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Investment advice disclaimer: The information contained on this website is provided for educational purposes, and does not constitute investment advice.

Trading Risk Disclaimer: There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies.

This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio. is not a registered broker, analyst, or investment advisor.