Sotheby's to Accept ETH Bids for Banksy Artwork Auction: A Groundbreaking Moment for Art and Crypto

Prestigious auction house Sotheby's has announced it will accept Ether bids in real-time for its Nov. 18 auction that includes works by famed street artist Banksy. Today, Sotheby’s announced that it will accept live, in-person Ethereum (ETH) bids for next week’s auction of a pair of artwork pieces from the vaunted pseudonymous artist.

In an Unprecedented and Groundbreaking Auction First for Physical Artworks, Sotheby’s Auctioneer Oliver Barker Will Field Real-Time Bids in ETH, in a Fusion of Live Auction and Crypto. A live auction will be held by Sotheby’s where Banksy’s “Love is in the Air” and “Trolley Hunters” will be available for collectors to bid on. The final price for the piece can be settled by the cryptocurrency of the winner's choice.

This exciting development marks another step towards the mainstream integration of cryptocurrency within the art world. 277-year-old British auction house Sotheby’s will be allowing live bidding in ETH at an upcoming virtual exhibition that will take place in Decentraland.

Today’s announcement comes just months after Sotheby’s became the first auction house to accept cryptocurrency as a payment option for a physical work of art, when a rare 101.38-carat diamond was auctioned. Now, collectors can participate in real-time bidding using ETH, demonstrating Sotheby's commitment to embracing innovation and catering to a new generation of art enthusiasts.