Christie’s Live ETH bidding has been confirmed for a forthcoming auction. The globally renowned auction house has announced its ‘Post-War to Present’ sale, beginning 1st October., The event will involve more than 200 pieces of art made in the last 70 years.
While there are many IRL reasons to get excited about the forthcoming auction – which we will come to shortly — this particular sale is making crypto headlines for a very good reason. Specifically the fact that the event will be the first of its kind to involve live Ether (ETH) bidding.
Buyers can use this functionality for either real world (physical) art pieces, or digital works. In total, there are 31 NFTs in the auction. This includes a full set of 30 rare edition curio cards, here referred to as Lot 17b. To give an idea as to their perceived value, this series was among the first art projects made on the Ethereum blockchain.
The collection was created by Thomas Hun, AKA Mad Bitcoins, an early NFT advocate, with involvement dating back to 2017. The cards are part of a wider ‘My Curio Cards’ collection. The series ranks sixth in the top NFT projects on OpenSea.
What Else is in the Christie’s Live ETH Bidding Auction?
As well as the digital works on sale, the live ETH bidding auction involves a large number of physical art pieces. Expected top sellers are a group of works by Wayne Thiebaud from the Collection of the Frances Hamilton White Trust. These include ‘Tomato Bowl’, and ‘Ridge Valley Farms Study’. Experts predict each will go for around $1million. Meanwhile, Helen Frankenthaler’s ‘Warming the Wires’ could bring in between $1.5 and $2million.
Christie’s Latest Major Crypto Move
Introducing live ETH bidding shows just how seriously Christie’s now takes cryptocurrencies, and digital art. Artists including Dread Scott have hosted non-fungible token auctions through the house, but this barely scratches the surface of activity.
In July, Christie’s Art + Tech Summit ran with the theme ‘NFTs and Beyond’. The one-day conference boasted two sessions dedicated the explosion of non-fungible art, and what this might mean for the future of culture and practitioners themselves.
Around the same time, a FEWOCiOUS auction at Christie’s grossed $2.1million in sales from digital works that charted the artist’s journey to become transgender. And before all that a Gucci sale bagged $20,000. Aria, the piece in question, was part of the fashion house’s ‘Proof of Sovereignty’ collection.
All of which pales in comparison to the biggest news to come out of Christie’s so far this year. In June it was confirmed the auction house would accept cryptocurrency for the very first time, with support for both Ether and Bitcoin payments. Sotheby’s, arguably the biggest rival, also confirmed it would take the cryptocurrencies at the same time.