Casa d'Aste Sant'Agostino to Accept Bitcoin, Ethereum, Litecoin for Design Auction
Casa d'Aste Sant'Agostino in Turin will hold a design auction on October 23-24, 2017, featuring over 600 lots of furniture and decorative objects by 20th-century Italian masters, including a Franco Albini bookcase, an Olook futuristic chandelier, and a pair of 1960s Arflex armchairs. For the first time worldwide, the auction house will accept payment in Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Auctioneer Vanessa Carioggia stated that this new financial transfer method offers clients lower bank transfer costs, near-instantaneous receipt confirmation, and a simple two-step process, with payment certification on-site via automatic insertion into the blockchain network. The article also notes that cryptocurrencies are increasingly entering the art world, with two Italian startups developing a blockchain platform to track art ownership and prevent forgery, having already secured agreements with major fair organizations.
Key facts
- Casa d'Aste Sant'Agostino in Turin is organizing a design auction on October 23-24, 2017.
- The auction includes over 600 lots of furniture and decorative objects by 20th-century Italian masters.
- Items include a Franco Albini bookcase, an Olook chandelier, and 1960s Arflex armchairs.
- Payment will be accepted in Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) for the first time worldwide.
- Auctioneer Vanessa Carioggia highlighted benefits: lower costs, near-instantaneous transfers, and on-site certification via blockchain.
- Two Italian startups are developing a blockchain platform to track art ownership and prevent forgery.
- The startups have already secured agreements with major fair organizations.
- Cryptocurrencies are described as global digital currencies independent of institutional systems.
Entities
Artists
- Franco Albini
Institutions
- Casa d'Aste Sant'Agostino
- Poltronova
- Arflex
Locations
- Turin
- Italy