Artory Collaborates with Christie’s on an Industry First: Registration of Major Art Collection Sale with Secure Blockchain Technology
Christie’s, the World’s Leading Auction House, is the First to Use the Artory Platform
Artory, the only blockchain-secured registry of verified information about artworks and collectibles, today announced an industry-first collaboration with Christie’s, the world’s leading auction house, to register An American Place: The Barney A. Ebsworth Collection on its Blockchain database. The Collection is considered the most significant privately-owned collection of American Modernist art ever to come to market.
The Artory Registry is the world’s most secure art-centric database, containing highly trusted, vetted data about artworks. Leveraging modern cryptography and blockchain technology to record significant events in the lifecycle of artworks and collectibles, the Artory Registry creates a secure digital record of transactions, with a goal of providing greater confidence in an artwork’s ongoing provenance and greater efficiency in its eventual resale. Collectors with artworks registered with Artory maintain anonymity, as their identity is never stored in the Registry.
“Today’s buyers are more skeptical and risk averse. They want to buy with absolute confidence,”said Nanne Dekking, Founder & CEO of Artory and Chairman of The European Fine Art Fair (TEFAF). “Artory was created to be a partner for the art marketplace in addressing these challenges. We support auction houses by enabling them to provide their clients with blockchain-encrypted trust and security, as well as a modern technology experience that buyers expect. Christie’s is an innovator in the industry, and we are thrilled to welcome them as the first collaborator on our trusted network.”
Richard Entrup, Chief Information Officer at Christie’s commented: “Our pilot collaboration with Artory is a first among the major global auction houses, and reflects growing interest within our industry to explore the benefits of secure digital registry via blockchain technology. The entrepreneurial spirit of the Ebsworth family and their embrace of leading-edge technology makes Christie’s November sale of the Ebsworth Collection an ideal platform for our clients to pilot this technology for themselves and explore the advantages of having a secure encrypted record of information about their purchased artwork. We are collaborating with Artory due to their team’s understanding of the art world and the strength of their product.”
This announcement of the blockchain partnership is timed to Christie’s upcoming West Coast tour of major artworks from the Barney A. Ebsworth collection. The exhibitions are open to the public in San Francisco at Minnesota Street Gallery from October 16–20, and in Los Angeles at Christie’s flagship Beverly Hills Gallery from October 23–27.
For more information about An American Place: The Barney A. Ebsworth Collection, visit www.christies.com.
Image: Preview of Artory Registry, available to the public after An American Place: The Barney A. Ebsworth Collection auction in November.