MINNEAPOLIS, May 9, 2018 /PRNewswire/ -- Revere Auctions, a world-class fine-arts auction house known for their digital savvy and diverse range of local, national, and international clientele, will become the first U.S. based auction house to accept Bitcoin for their upcoming auctions on Saturday May 12th. The move to accept cryptocurrency is in part a reaction to the growing fine-arts repatriation movement from Asian bidders and will feature predominantly Chinese, Japanese, and Middle Eastern art. In China alone, a total of 280,080 fine art pieces sold for $5.1 billion were put up for auction in 2017, which is also an increase of +5.44%. "We have been gaining interest from international markets and have been fielding requests for the inclusion of multiple currencies in our auctions," remarked Sean Blanchet co-founder of Revere Auctions. "We aim to satisfy the market demand through a combination of digital innovations, proprietary art-price databases rarely seen at legacy auction houses, and world-class work that collectors around the world will be interested in." The auctions will be conducted in U.S. dollars, and then converted to bitcoin at market price after the auction is closed. The auction will include a range of jade figures and carvings, scroll paintings, caste bronze bowls, and more. Co-founded by Robert Snell and Sean Blanchet, Revere Auctions aims to service international demand as well as a local Minneapolis fine-arts market that has long sought to have access to premiere auction opportunities for collectors, corporations, and museums seeking to sell their top quality art, sculpture, and fine estates. Revere Auctions accesses markets and buyers in Europe, Asia, and the United States through a wide variety of digital bidding platforms, a proprietary mobile app, and long established relationships with Art and antiques dealers worldwide. Collectively, Blanchet and Snell bring considerable art and auction expertise to bear on the promise of Minneapolis's finest collections. About the co-founders of Revere Auctions: Robert Snell, a Minnesota native, is a fine art specialist who owns Hiro Fine Art Gallery and has been representing the Twin Cities top collectors for years. He is known for championing historic regional artists in particular including Alexis Fournier, George Morrison, and Cameron Booth. Sean Blanchet is a Chinese and Japanese Art specialist who, before moving to the Twin Cities, worked for several top East Coast auction houses and dealers. Since moving to the area he has worked with major museums collectors and corporations to appraise and sell collections to the booming Chinese art market. Blanchet is currently working on a book detailing the history of T. B. Walker's collection of Chinese Art, one of the greatest in the world and little known outside of Minneapolis. SOURCE Revere Auctions http://revereauctions.com
Fine art specialist Sean Blanchet 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 Revere Auctions said: "We have been gaining interest from international markets and have been fielding requests for the inclusion of multiple currencies in our auctions."