Sotheby’s to hold real-time bids in ETH for Banksy art auction

The historic art auction house Sotheby’s announced Thursday that it will have real-time bids in ETH for its upcoming auction of Banksy paintings.

The auction, dubbed “The Now,” will occur on November 18 and consist of Banksy’s Trolley Hunters and Love in the Air artworks. As of publication, the paintings are estimated to cost between $5 to 7 million and $4 to 6 million, respectively, in USD.

Sotheby’s will also hold its auction at its digital headquarters in Decentraland, a virtual world platform, reports CoinDesk. 


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Sotheby’s first began accepting cryptocurrency as payment in May of this year in a collaboration with the crypto exchange Coinbase, The Block previously reported.

However, “The Now” auction appears to be the first time the 277-year-old art house will prioritize crypto as payment over fiat currency. 

In addition to embracing cryptocurrency, Sotheby’s branched into non-fungible tokens (NFTs) this year with its auctions of Bored Apes and CryptoPunks — as well as launching its own curated NFT platform called “Sotheby’s Metaverse” on October 14.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.