Lloyd’s auction house accepts cryptocurrency payments

Lloyd’s auction house in Australia now accepts payments in cryptocurrencies, including those for the most expensive supercars.

Lloyd’s announced that it will accept Bitcoin, Ethereum and other cryptocurrencies as payment in its auctions, from roasters to classic cars. These include a V8-powered HSV GTSR W1 Maloo and a 1977 Holden Torana A9X.

While the auction house will accept cryptocurrencies, Sellers can choose to receive payment in crypto or Australian dollars.

Lee Hames, COO of Lloyds Auctions, said that many have already agreed to offer to pay with cryptocurrency:

“Within hours of offering cryptocurrency as a payment option, a $ 100,000 custom caravan was paid in full by crypto. […] Since then, we’ve had a lot of interest in our upcoming classic car and earthmoving machinery auctions. “

However, Lloyd’s is not the first company in Australia to accept cryptocurrencies as payment for cars. Australian used vehicle company CarBuyers also accepts Bitcoin as payment for its vehicles.

Cryptocurrency payments expand

Meanwhile, in addition to selling vehicles, other prominent auction houses have entered the crypto sphere.

Earlier this year, the British auction house Christie’s became one of the first auction houses to accept cryptocurrency as payment. In fact, he did so while achieving another milestone related to cryptocurrencies.

In March, Christie’s sold a non-fungible token (NFT) artwork by digital artist Beeple for $ 69 million that was paid for with Ethereum.

While it is also the most expensive NFT sold to date, it has also set a precedent for the legitimacy of NFTs as art.

Rival auction house Sotheby’s has also followed suit by accepting cryptocurrency as payment. Last month, Sotheby’s announced that it had accepted cryptocurrencies as payment for Banksy’s “Love is in the Air”.

Despite declaring that it would accept Bitcoin and Ethereum, the auction house did not reveal which cryptocurrency was used in the transaction. Although in this case the artwork sold was physical and not digital, Sotheby’s held its first NFT auction in March.

The post Lloyd’s Auction House accepts payments with cryptocurrencies was first seen on BeInCrypto.

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