Australian premiere auction house Lloyds Auctions will start accepting cryptocurrencies as payment, according to a report.

  • Lloyds will accept payments in Bitcoin, but pay the seller in Australian dollars. Bidders will be identified to make the process transparent and in compliance with Australian laws.
  • Chief Operating Officer Lee Haames said the company a $100,000 custom-built caravan was paid for entirely by crypto just hours after the payment option was made available. There has been interest to pay for classic cars and earthmoving machinery through the cryptocurrency option.
  • Lloyds earlier this year sold a rare HSV GTR W1 Maloo for over $1 million, and hopes to do the same with the 1977 Holden Torana A9X which will be auctioned with the cryptocurrency payment option.

Lloyds acquires used cars for as low as $2,000 and sellers can opt to be paid in cash value or in Bitcoin.

BTC/USD is down 0.15%.