A rare black diamond was recently placed on auction for an estimation of $6.8 million and can be bought with cryptocurrency. The diamond, nicknamed the Enigma, is a 555.55-carat diamond that is believed to come from space and is being placed on auction by Sotheby’s Dubai. The diamond is thought to have come from an asteroid that hit the planet billions of years ago, as the diamond is a Carbonado diamond, which can be dated as far back as 3.8 billion years ago.

The Enigma Diamond was sold on Feb. 9, for $4.2 million, and is the largest diamond to ever come to auction. It weighs more than the two previous record-holders Great Star of Africa, which is 530.2 carats, and the Golden Jubilee, which is 545.67 carats. It has 55 facets, a side of a many-sided object, which is rare for a diamond with such a high degree of polish. The Enigma is also shaped like the Hamsa, which is a Middle Eastern sign of protection. Its shape is a rarity, as many diamonds are cut into one of the ten unusual shapes, such as the Princess (square cut), Baguette (rectangular cut), and the Trilliant (triangular cut). However, the Enigma diamond is shaped like a palm and represents blessings, power and strength.

Black diamonds have been sold at auction before, for usually $13,600 a carat. Doing the math based upon these approximations above, the Enigma Diamond would be sold for $7,555,480 million. The Enigma Diamond is different from most of the black diamonds found on the market due to the fact that it is a naturally-found shade of black. Most black diamonds are super-heated or treated to achieve the look, but the ones that are actually found in the signature black color and do not need to be treated have the same composition of minerals that are only found in space.

The Enigma sold for over $4.2 million, and although the auctioneer Sotheby’s declined to name the purchaser, an entrepreneur named Richard Heart took to social media to announce his purchase of the Enigma Diamond. The diamond was purchased through cryptocurrency, a rising form of payment in the art world.

Cryptocurrency, a form of payment has seen an increase in use within the art market over years. Recently, a 101-carat diamond, dubbed “The Key 10131” became the first major diamond to be bought with cryptocurrency in an auction. NFTs and Cryptocurrency have divided the art market, with many avoiding it due to copyright issues and security challenges.

“It’s awesome and I have no problem with cryptocurrency being used,” junior Bradley Van Hall says.

https://www.bbc.com/news/business-60328375

https://www.cnn.com/style/article/enigma-diamond-sothebys-auction-scn-scil-intl/index.html