Sotheby’s: You Can Buy Banksy With Bitcoin

The auction will be conducted in USD, but the buyer and artist will have the option to transact in either crypto or fiat currencies.

article-image

BANKSY | LOVE IS IN THE AIR

share
  • The auction house will soon accept cryptocurrencies as payment through a partnership with exchange Coinbase, starting with Banksy’s “Love is in the Air”
  • Sotheby’s is partnering with crypto exchange Coinbase to facilitate the May 12 auction

Sotheby’s will be accepting bitcoin and ethereum as payment for Banksy’s iconic painting “Love is in the Air” later this month. This marks the first time in history that an auction house will accept cryptocurrencies as payment for a physical artwork. 

Sotheby’s is partnering with crypto exchange Coinbase to facilitate the May 12 auction, the auction house announced Tuesday. Coinbase will support bidding, which is estimated at $3 million to $5 million. The exchange will also help manage price fluctuations, according to a blog post Tuesday. 

“Fittingly, the pairing brings together the biggest disruptor in finance with one of the most notable disruptors in the art world – Banksy,” Sotheby’s wrote in a statement Tuesday. 

Sotheby’s will conduct the auction in USD, but the buyer and artist will have the option to transact in either crypto or fiat currencies.

In March, Mike Winkelmann’s non-fungible token (NFT) digital artwork “Everydays – The First 5,000 Days” sold for nearly $70 million at Christie’s. It was the first ever digital artwork sale by a major action house for a piece that does not exist in a physical form. 

While cryptocurrencies have already infiltrated the world of digital art, Coinbase said this collaboration with Sotheby’s could pave the way for future physical art cryptocurrency transactions. 

“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,” said Stefan Pepe, Sotheby’s chief technology officer, in a statement. 

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

Figure, founded by former SoFi CEO Mike Cagney, has emerged as a leader in onchain RWAs, with ~$17.5B publicly tokenized. The platform’s ecosystem volume is growing ~40% YoY as it expands beyond HELOCs into student loans, DSCR loans, unsecured loans, bankruptcy claims, and more. Operationally, Figure cuts average loan production cost by ~93% and compresses median funding time from ~42 days to ~10, creating a durable speed-and-cost advantage.

article-image

DFS tells banking organizations to integrate blockchain monitoring tools to curb money laundering and sanctions risks

by Blockworks /
article-image

New short and long-term priorities include L1 gas boosts, ZK-EVMs, privacy reads, and a lean, quantum-resistant Ethereum

by Blockworks /
article-image

The new stBTC token redistributes Bitcoin gas fees to users, creating liquid yield without inflation or lockups

by Blockworks /
article-image

The reserve will collect protocol revenues to back W token, alongside new yield and unlock schedule

by Blockworks /
article-image

Layer 2 network Taiko integrates Chainlink Data Streams to deliver reliable onchain market data for DeFi and institutions

by Blockworks /
article-image

The license will allow Bullish to operate in New York under strict digital asset rules

by Blockworks /