Samer Halimeh NY, a well-known international luxury jewelry, and diamond retailer, recently started accepting bitcoin payments for purchasing and trading its products in both business-to-business (B2B) and retail, according to industry website Professional Jeweler.
Samer Halimeh NY, headquartered in Knightsbridge, was founded by Lebanese-born American entrepreneur Samer Halimeh, who throughout his life managed to become a famous luxury jeweler, and has shops in London, New York, and Riyadh.
Some of Samer Halimeh NY’s most well-known clients, according to reports, are celebrities like Elton John, Oprah Winfrey, and Saudi Arabia’s royal families. Recently, some of its wealthiest clients – particularly in Asia and the Middle East – have reportedly been holding large amounts of bitcoin, and have been asking the company to buy jewelry with it.
According to the company, its high net worth clients have, over the last 18 months, been asking about pieces of jewelry that cost seven figures or more, in an attempt to diversify their portfolios and exchange some of their bitcoin for other assets, such as diamonds, gold, art, and fine wine.
As a response, the company now accepts and cryptocurrencies and even offers bitcoin prices for some of its pieces. In order to facilitate transactions, it will use Bitpay as its merchant services provider, who’s responsible for hosting the company’s bitcoin wallet and supply. Samer Halimeh, the company’s CEO, believes the company to be the first “Bond Street” level luxury diamond and jewelry dealer to accept bitcoin. He stated:
“Because trading and retailing via Bitcoins can be done from anywhere in the world, it is especially beneficial for our suppliers in Africa and our clients from developing countries like China, Brazil, South Africa, Nigeria, India, and Uzbekistan. We also believe that in the future the currency will revolutionize the luxury goods marketplace and the use of this digital currency will make trading and purchases for our clients and contacts easier, cheaper and much faster”
Not the first to sell diamonds for bitcoin
Samer Halimeh might be correct about being the first “Bond Street” level jewelry dealer to accept bitcoin, taking into account the number of celebrity clients his firm has already dealt with. Nevertheless, it was already possible to use the number one cryptocurrency to purchase diamonds before his deal with Bitpay.
Reeds, a well-known jewelry chain, has been accepting bitcoin payments in its stores and online since 2014, allowing bitcoiners to purchase jewelry and diamonds using the cryptocurrency. Family owned since1910.com also accepts bitcoin payments for its goods.