Buyers Can Pay For Pink Diamonds With Bitcoin
November 28, 21
(IDEX Online) – An Australian start-up to accept Bitcoin payments at its next rare pink diamond auction, valued at $ 14 million.
Yourdiamonds.com (YD) offers 53 pink, blue and red stones in its second tender, which ends on December 6.
âWe were approached by a potential buyer asking if we would accept Bitcoin,â CEO Tim Goodman said. “It’s like our traditional trading facility. It’s surprisingly simple.”
Goodman, former executive chairman of Sotheby’s Australia, created YD to provide a secondary market for other fancy rose-colored diamonds.
It follows the closure of the iconic Argyle diamond mine last November, which supplied over 90% of the world’s roses.
The stones offered represent “the largest collection of Australian pink diamonds ever to appear on the secondary market”.
They have been listed for sale by 15 private sellers, including self-directed super funds, estates, collectors and investors.
Some were recorded by David Burger, chief diamond polisher at Argyle for 30 years before his retirement in 2015.
Each lot includes an estimate prior to the call for tenders and can be viewed by the public during a traveling roadshow in the Australian capitals.
Argyle roses have appreciated in value 8.38% per year, on average, over the past 20 years, according to Argyle owner Rio Tinto.
The lots include (LR) a fancy dark rose color diamond of 1.14 carats and an almost red diamond.