An Australian technology start-up has announced that it will accept bitcoin at its second auction or tender of fancy pink diamonds, originating from the recently closed Argyle diamond mine.

Elsewhere, auctioneer Sotheby’s announced last week that it would accept bids in Ether (ETH) in the wake of receiving cryptocurrency for payment of US$10.3million (£7.7 million) for the sale of a 100-carat diamond.

Meanwhile, Christie’s recently sold non-fungible tokens (NFT) for new digital art.

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Now, YourDiamonds.com is joining the party, is opening up its second ever pink diamond auction to cryptocurrency bids.

YourDiamonds.com is the brainchild of Tim Goodman, former executive chairman of Sotheby’s Australia. YourDiamonds.com non-exec chairman, Jim Fernandez, is the former senior vice president of Tiffany & Co in New York.

The company sold a 2ct fancy pink diamond for A$2.2 million (£1.2 million) in its first public tender in July, a new world auction record.

“Following the extraordinary results at our first tender we have gathered the largest collection of Australian pink diamonds ever to appear on the secondary market,” Tim Goodman said.

“We were approached by a potential buyer asking if we would take bitcoin. This was a mystery to us until we found another Aussie start-up, Aus Merchant.“

YourDiamonds.com has engaged Aus Merchant to enable receipt of bitcoin at the tender with the ability to immediately convert coin to cash.

“It’s just like our traditional merchant facility. It is surprisingly simple,” Goodman added.

“The backend office accounting system Aus Merchant provides to YourDiamonds.com enables concise accounting of all transactions to reconcile with an Australian cost basis.”

Ending on 6 December, the auction is open to both the public and the diamond trade.

It consists of 53 pink, blue and red diamonds consigned for sale by 15 private sellers, including self-managed super funds, estates, collectors and investors.

Every lot carries a pre-tender estimate and is available for public viewing at a travelling roadshow in Australian capital cities.