The Auc­tion House

Fast Company - - Next -

Christie’s pi­loted a blockchain-based en­cryp­tion and reg­is­tra­tion ser­vice at the Novem­ber auc­tion of the Bar­ney A. Eb­sworth Col­lec­tion in New York. The auc­tion house worked with art reg­istry ser­vice Ar­tory to cre­ate a dig­i­tal cer­tifi­cate for pieces in the es­ti­mated $300 mil­lion sale (which in­cluded work by Ed­ward Hop­per and Ge­or­gia O’ke­effe). The cer­tifi­cate records a de­scrip­tion of the work and price, and tracks its prove­nance as it gets bought or sold. Richard En­trup, chief in­for­ma­tion of­fi­cer at Christie’s, says that the ben­e­fits of the blockchain in­clude “in­creased trans­parency and long-term data se­cu­rity for rel­e­vant in­for­ma­tion about the art­works.”

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