Sotheby's will now accept cryptocurrency, starting with an auction for Banksy's 'Love is in the Air'

Kelly McLaughlin
·1 min read
Gallery assistants adjust "Love is in the Air" by British graffiti artist Banksy ahead of its sale at Bonhams auction house in London on June 24, 2013.
Gallery assistants adjust "Love is in the Air" by British graffiti artist Banksy ahead of its sale at Bonhams auction house in London on June 24, 2013. JUSTIN TALLIS/AFP via Getty Images
  • Sotheby's is accepting cryptocurrency for Banksy's "Love is in the Air" in an upcoming auction.

  • The company said it would accept Bitcoin (BTC) and Ether (ETH) via Coinbase in exchange for the art.

  • The company said that the use of cryptocurrency could "expand our client base."

  • See more stories on Insider's business page.

Sotheby's says that it will accept cryptocurrency for Banksy's "Love is in the Air" artwork in an upcoming auction.

The company announced Tuesday it would accept Bitcoin (BTC) and Ether (ETH) via Coinbase in exchange for the artwork.

"With the growing adoption of digital art and NFTs, along with our increased focus on digital innovation, we've seen an increasing appetite among collectors for more seamless payment options when doing business with Sotheby's," Stefan Pepe, Sotheby's chief technology officer, said in a statement.

"Leveraging the trusted exchange Coinbase is a natural progression and is in line with our dedication to enhancing our client buying experience and developing new ways to expand our client base by meeting them where they are," he added.

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