A 101-carat diamond has become the costliest jewel to be bought using cryptocurrency, CNN reported, quoting auction house Sotheby’s that was behind the sale. The pear-shaped diamond, dubbed as ‘The Key 10138’ fetched $12.3 million in the auction on Friday.

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This came after the auction house announced that it was accepting cryptocurrencies, such as bitcoin and ethereum, in addition to traditional payment methods. 

The jewel was bought by an “anonymous private collector,” as per a press release.

Wenhao Yu, Sotheby’s deputy chairman for jewelery in Asia, said in a press statement that the sale had attracted “new clients well beyond the traditional pool of collectors.”

The cryptocurrency payment option appealed to a “digitally savvy generation,” he said.

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Regarding the jewel, it is the second-largest pear-shaped diamond to ever come to the market. It was placed in the category of ‘D color’, the highest grade for white diamonds. Those diamonds feature in this category that appear colourless to the naked eye.

It is also internally and externally flawless, which means it is completely devoid of visible blemishes.

Several auction houses have started accepting payments in cryptocurrencies in recent times. 

Earlier this year, Sotheby’s sold street artist Banksy’s painting ‘Love is in the Air’, for which it was willing to accept payment in digital currency. The painting, which featured a man throwing flowers like a Molotov cocktail, was sold at $12.9 million.

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However, the auction house didn’t disclose if the buyer made the payment in cryptocurrency or using a traditional payment method.