The world’s largest automobile auction will start accepting payments in cryptocurrency

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The world’s largest automobile auction will start accepting payments in cryptocurrency

Private British auction house “Bonhams” (Bonhams), one of the oldest and largest auction houses, specializing in fine art, Antiques and luxury vintage cars, intends to begin accepting payments in the cryptocurrency. The news was announced by the publication Cryptodisrupt.

This is the first year buyers will have the opportunity to purchase super— expensive Lamborghini, Ferrari, Bentley and other luxury cars with six-figure prices for cryptocurrencies. The main advantage of this payment is the transaction rate. Buying a luxury car for dollars or other currencies can last for weeks and even months. In contrast, transfer payments in the cryptocurrency takes minutes.

In an interview with Forbes, Elizabeth white, head of the company for the sale of objects of art and luxury White Company, allowing customers to pay in cryptocurrencies, explained that when a buyer purchases a car with bitcoin or equivalents, funds electronically sent to the cryptocurrency wallet, then where are the dollars coming at the expense of Bonhams. The process takes thirty minutes. White said:

A huge advantage of cryptocurrency is that it is a global currency, which is ideal for auctions, which are used by customers from all over the world.”

At the moment the White Company sold more than 30 Lamborghinis and Ferraris price of $4 million.

Bonhams isn’t the only auction house that accepts cryptocurrency payments. They are getting increasingly widespread in the business. So, in June of this year, part of the work of iconic American artist Andy Warhol “Back sequence 14 little electric chair” was put up for auction on the blockchain the platform of fine arts Maecenas.

The auction allowed the bidders to purchase the creation of Warhol either for bitcoin or for corporate tokens Maecenas ART – their model enables real-time tracking of the process of buying and selling.

Earlier this month, the cryptocurrency exhibition of works of art opened at the art gallery in London. House of Fine Art has made a revolutionary move, giving customers the opportunity to purchase works of art for the cryptocurrency.

On the background of the millionaires who buy the cryptocurrency of expensive cars and paintings by Andy Warhol, auction houses and art galleries that recognize the benefits of crypto— payments, digital currency can change the reputation of the elected money of criminals on the reputation of the currency to fabulously wealthy people.

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