Christie’s International Real Estate, the luxury property arm of the famed Christie’s auction house, has unveiled a new division dedicated to handling real estate transactions in digital currencies.
The announcement was made via a New York Times report on Thursday, which noted that the move follows several high-value deals completed using cryptocurrencies.
Christie’s CEO Aaron Kirman said the division will streamline sales by using Bitcoin and other assets instead of banks or fiat money.
A Dedicated Crypto Team
The firm has assembled a specialised unit of lawyers, market analysts and blockchain specialists. This group will oversee every step of crypto deals, from legal vetting to transaction execution.
Kirman explained that the work started after the company closed several headline‑making sales using digital coins.
High‑Profile Crypto Transactions
One landmark deal involved a $65 million estate in Beverly Hills purchased with Bitcoin. According to Kirman, clients are increasingly asking to swap tokens for trophies like mansions.
“The trend was obvious—crypto is here to stay. It’s only going to get bigger over the next few years,” he told the Times. Christie’s hopes its new division can handle similar blockbuster deals without the delays of traditional banking.
Privacy and Anonymity
Wealthy buyers often use shell companies or trusts to shield their identities. Yet internet sleuths can still trace ownership. Crypto payments add a further layer of privacy thanks to the pseudonymous nature of blockchains.
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Kirman said Christie’s has been “really successful at protecting buyer identity” in recent crypto‑based home sales, sometimes even keeping sellers in the dark about who bought their property.
Building on NFT and Ethereum Expertise
This real estate move comes after Christie’s long‑running involvement with non‑fungible tokens. The auction house began NFT sales years ago and launched an Ethereum‑based auction platform in 2022.
The same blockchain tools that power digital art bidding will now support property transfers. Clients who know how to bid on NFTs will find it easy to swap crypto for real estate.
Market Position and Sales Trends
Christie’s and Sotheby’s remain the two giants of the auction world. Last year, Christie’s reported $5.7 billion in sales, down 6% from 2023. Sotheby’s took in $6 billion, a 23% drop.
Both firms have leaned on crypto and NFTs to spark growth amid market dips. Christie’s sees its new division as a natural step in broadening services to tech‑savvy elites.
Notable Properties and Portfolio Growth
Kirman says his team now handles a portfolio worth over $1 billion in homes where sellers accept crypto. A standout is the “Invisible House” in Joshua Tree, listed at about $18 million.
Its glass‑like walls mirror the desert, making it hard to spot. Owner Chris Hanley noted that accepting crypto “signals an openness to innovative buyers” seeking to diversify beyond digital coins.
Kirman predicts that within five years, more than one‑third of US residential property sales will use cryptocurrencies. He is already in talks with banks to accept digital assets for mortgage financing.
Last month, the Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to study how to count crypto holdings in home‑loan risk assessments. If regulators follow through, crypto could move from a niche payment method to a mainstream option for homebuyers.
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