Fine art specialist Revere Auctions in Minneapolis has become the first large US auction house to accept bitcoin. The move is largely to satisfy demand from Asian bidders repatriating fine art to China, Japan and the Middle East. The bidding will be in US dollars, which will then be converted to bitcoin at the 2017's market price after the sale. Co-founder Sean Blanchet said: "We have been gaining interest from international markets and have been fielding requests for the inclusion of multiple currencies in our auctions."
Fine art specialist Revere Auctions in Minneapolis has become the first large US auction house to accept bitcoin. The move is largely to satisfy demand from Asian bidders repatriating fine art to China, Japan and the Middle East. The bidding will be in US dollars, which will then be converted to bitcoin at the day's market price after the sale. Co-founder Sean Blanchet said: "We have been gaining interest from international markets and have been fielding requests for the inclusion of multiple currencies in our auctions."