New York, NY – The prestigious auction house Sotheby’s has announced it will be auctioning the largest known Martian meteorite ever found on Earth, with an estimated value between $2 million and $4 million. In a move to attract a global and tech-savvy clientele, the auction house will accept bids in major cryptocurrencies, including Bitcoin, Ethereum, and USDC, for the rare celestial object. The sale is scheduled to take place on July 16 as part of Sotheby’s Natural History auction.
The meteorite, officially designated Northwest Africa 16788 or NWA 16788, weighs a substantial 54 pounds. It was first discovered in the Agadez region of Niger in 2023 and has since been authenticated by the Meteoritical Society. This specimen is being offered by a private owner and is considered the most valuable and expensive piece of Mars ever presented at auction.
“Sotheby’s has accepted cryptocurrency for select sales since 2021,” Cassandra Hatton, Sotheby’s Vice Chairman of Science and Natural History, told Decrypt. “Given the global interest in rare meteorites and the tech-savvy audience they attract, it made sense to offer that option here.”
The rarity of such items drives their significant value. According to experts, Martian specimens are among the most exotic substances on our planet. It is estimated that less than 550 pounds of rock from Mars are known to exist on Earth, making each piece highly sought after by collectors and institutions. For comparison, a much smaller piece of a Martian meteorite was sold by rival auction house Christie’s for $40,000 in February 2021.
Hatton explained that valuing unique natural history artifacts is more complex than valuing traditional fine art. “It’s easy to estimate a Picasso or Warhol because we’ve sold many. But in my world, where everything is unique and rarely sold, it’s a different exercise,” she said. “The estimates show possibility, not hard market data.” Unlike artwork, meteorites are typically priced by weight, with a “natural price-per-gram structure in the market,” according to Hatton.
To facilitate the cryptocurrency transactions, Sotheby’s is utilizing established digital asset platforms Coinbase and Bitpay. Hatton emphasized the auction house’s commitment to security and compliance, stating, “Sotheby’s has been doing the really deep work of ensuring that everything is done to the highest standards.”
This auction is the latest example of Sotheby’s continued engagement with the digital asset community. The auction house has previously handled high-profile sales of digital collectibles, including Bitcoin Ordinals, Bored Ape Yacht Club NFTs from the defunct crypto hedge fund Three Arrows Capital, and NBA Top Shot NFTs.
The decision to continue embracing cryptocurrency is a direct response to customer demand. “We’ve had major, high-value lots paid for with cryptocurrency. The goal is to accommodate the widest group of potential bidders,” Hatton explained. “Many of my clients work in crypto, earn from it, or hold it, and they’ve told me, ‘You should be accepting cryptocurrency for everything.’ So I’m responding to that demand.”
