Phillips, one of the leading auction houses in the United States, has revealed that it is willing to accept payment in Bitcoin or Ethereum for the upcoming auction of Jean-Michel Basquiat’s artwork collection in May.
Per available information, the collection, dubbed Untitled, 1982, is a 16-foot painting that was “executed in 1982, the watershed year which shot the artist to international stardom, this extraordinary work is from a small series created in Modena, Italy.”
The collection is estimated to be worth roughly $70 million —making it one of the most expensive art collections in history.
According to a Senior International Specialist of 20th Century & Contemporary Art from Phillips, Scott Nussbaum, buyers are increasingly interested in using crypto to pay for traditional artworks.
“The interest in cryptocurrency and NFTs from the traditional art world is growing rapidly. And though it’s impossible to predict the future, we believe the intersection of the digital a
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