NFTs are established in auctions

Internationally, NFTs have already panicked over the auction, with $ 69.3 million per The first 5000 days by Beeple in 2021.

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| Updated on 16-03-2022 09:39 | Posted on 16-03-2022 09:10

Photo: Et? Rnål Pøngby Stephan Breuer e Ancestor of law by Ovvio

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Ups and downs. NFT’s gradual entry into the French auction market is happening in fits and starts, but the topic is generating a lot of interest! Internationally, NFTs have already panicked over the auction, with $ 69.3 million per The first 5000 days by Beeple in 2021 (the initial offer was $ 100). Artprice lists 300 NFT lots presented at auction in 2021, for a total amount of 232 million dollars, or 1.6% of the world art market.

In France, NFTs are currently encountering several pitfalls. The first is legal. If a bill was approved a few weeks ago to allow auction houses to register intangible assets (hence NFT) in their voluntary public sales, the implementing decrees are still awaited. As a result, the few auction houses that embark on the adventure are forced to offer physical support accompanying the digital work.

For example: the first SMS in history (it said ” Happy Christmas “), Sold for 107,000 euros by the Aguttes studio last December, was accompanied by a frame with a telephone. And the 47 works put up for sale on March 10 for sale ” Burnt shaft »By Fauve Paris had therefore been printed on A4 sheets… Which buyers were asked to burn as soon as the auction was over! Another solution chosen by the auctioneers: the transfer of the sale. Parisian studio Millon took advantage of its Belgian office in May 2021 to organize the first sale of European NFTs. Result: 12 lots out of 13 sold and a total hammer price of almost 70,000 euros.

We hope that the next edition of the NFT sale, which will take place next June, will allow us to sell 100% digitally. says Joséphine Louis of Fauve Auction. She’s delighted that during this hugely popular online and in-person sale, two-thirds of the lots found buyers, either first market »In the image ofEternal Pong by Stephan Breuer, estimated € 1,000 / 1,500 and sold for € 10,920, or ” second market »Concerning more experienced artists in this field such as Obvious with Ancestor of law, video sold for 8,400 euros. The total of the auctions amounts to 120,000 euros. Much more than the sale in the metaverse offered jointly by the ArtAtak platform, the Charlot gallery and Aguttes last February. Although followed and widely commented, this sale has not achieved its objectives with a single work sold: 15,000 euros for the red Martian metacathedral in 3D.

Finally, it should be noted that Fauve Paris is the first auction house to offer payment in cryptocurrencies, an option chosen by this edition by some buyers who already have their “wallet” in BTC, ETH or BUSD.

>> READ: How to buy NFT? Here are 9 of the major platforms

Sold € 10.920 Stephan Breuer (born 1975) @ StephanBreuer1 Eternål Pøng

Sold € 10.920 Stephan Breuer (born 1975) @ StephanBreuer1 Eternål Pøng

About the author
Clémentine Pomeau-Peyre is a journalist specializing in the art market.

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