Phillips Auction House to Accept Crypto for Banksy Artwork Sale

Street artist Banksy's iconic work is once again up for auction with payment accepted in cryptocurrency, this time at the Phillips auction house in Hong Kong.

Phillips is selling “Laugh Now Panel A,” with an estimated value of between $2.82 million and $4.1 million, according to an announcementhttps://finance.yahoo.com/finance/news/phillips-accept-cryptocurrency-physical-artwork-104400272.html Friday.
The artwork is being taken on tour to Shenzhen, Taipei, Taichung and Hong Kong ahead of the June 7-8 auction.
The winning buyer will have the option of paying the hammer price in cryptocurrency into the 225-year-old auction house’s Coinbase wallet.
This is the first time an auction house in Asia will accept either bitcoin or ether as payment for a physical work of art, the company said.
Sotheby’s plans to accept crypto for its May 12 auction of Banksy’s “Love is in the Air,” also in partnership with Coinbase.

CoinDesk - Unknown — Banksy's "Laugh Now Panel A, 2002" spray paint and emulsion on dry wall, 178.5 x 74 cm.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.