Christie’s Makes Team To Spin Crypto Real Estate Deals
The post Christie’s Makes Team To Spin Crypto Real Estate Deals appeared on BitcoinEthereumNews.com. UK auction house Christie’s is reportedly spinning up a new division to allow crypto to be used for real estate purchases in the firm’s latest expansion of its digital asset services. Christie’s International Real Estate now offers a team of crypto experts, lawyers and analysts to facilitate transactions where both the property seller and buyer want to work with crypto and not involve banks, The New York Times reported on Thursday. Christie’s International Real Estate CEO Aaron Kirman told The Times he opened the service after the business made a few large real estate sales with crypto, one notable deal being for a $65 million house in Beverly Hills, California, that was purchased using Bitcoin (BTC). Christie’s listed a multimillion-dollar Beverly Hills home in 2021 and accepted Bitcoin as payment. Source: Aaron Kirman It marks Christie’s latest crypto-infused service, with the firm having long offered auctions for non-fungible tokens and launching an Ethereum-based auction platform in 2022. Christie’s dominates the auction house market alongside Sotheby’s, which has similarly embraced NFTs and crypto. Christie’s reported making $5.7 billion in sales last year, a 6% fall compared to 2023, while Sotheby’s reportedly raked in $6 billion, down 23% on the year. Crypto can anonymize the ultra-rich’s house buys Kirman said that real estate purchases with crypto are rare, but it’s growing as a form of payment among the wealthy as a way to make their house purchases more anonymous. Those with high profiles and the ultra-rich rarely buy a property in their own name and have long bought homes through companies or trusts to try to obscure the paper trail leading to them. However, internet sleuths can easily tie a company or trust to a celebrity or other high-profile person. Kirman said buyers with Christie’s are still hiding behind companies, but they’re…
The post Christie’s Makes Team To Spin Crypto Real Estate Deals appeared on BitcoinEthereumNews.com.
UK auction house Christie’s is reportedly spinning up a new division to allow crypto to be used for real estate purchases in the firm’s latest expansion of its digital asset services. Christie’s International Real Estate now offers a team of crypto experts, lawyers and analysts to facilitate transactions where both the property seller and buyer want to work with crypto and not involve banks, The New York Times reported on Thursday. Christie’s International Real Estate CEO Aaron Kirman told The Times he opened the service after the business made a few large real estate sales with crypto, one notable deal being for a $65 million house in Beverly Hills, California, that was purchased using Bitcoin (BTC). Christie’s listed a multimillion-dollar Beverly Hills home in 2021 and accepted Bitcoin as payment. Source: Aaron Kirman It marks Christie’s latest crypto-infused service, with the firm having long offered auctions for non-fungible tokens and launching an Ethereum-based auction platform in 2022. Christie’s dominates the auction house market alongside Sotheby’s, which has similarly embraced NFTs and crypto. Christie’s reported making $5.7 billion in sales last year, a 6% fall compared to 2023, while Sotheby’s reportedly raked in $6 billion, down 23% on the year. Crypto can anonymize the ultra-rich’s house buys Kirman said that real estate purchases with crypto are rare, but it’s growing as a form of payment among the wealthy as a way to make their house purchases more anonymous. Those with high profiles and the ultra-rich rarely buy a property in their own name and have long bought homes through companies or trusts to try to obscure the paper trail leading to them. However, internet sleuths can easily tie a company or trust to a celebrity or other high-profile person. Kirman said buyers with Christie’s are still hiding behind companies, but they’re…
What's Your Reaction?
