London artist Lincoln Townley says he has sold 19 paintings to a Singaporean investor for 490 bitcoin — worth £4 million at today’s rate.
All the works in his Greed collection, including Energy of London, were bought via an agent based in the Swiss ski resort of Gstaad a month before they were due to go on display at a Saatchi gallery, the artist said.
They will now be exhibited for one day only this month.
Townley, who is known for portraits of celebrities such as Kate Moss and David Bowie, has sold his work for bitcoin in the past.
In 2017, he sold his first major work, an oil painting called Homage to Francis Bacon, to a European art collector for 40 bitcoin — which was worth around £520,000 at the time.
It was thought to be the first transaction of its kind using bitcoin, a cryptocurrency that has caused controversy for its wild price volatility.
Townley is well known for selling his work for huge amounts of money — both in bitcoin and traditional currency — with a diamond-encrusted portrait of Princess Diana going for £1 million back in 2017.
In April, he showed 30 paintings at Venice Biennale as part of his Behind The Mask collection, inspired by "people who take risks and go at life guns blazing".
