Categories: Ethereum

Going Once, Going Twice… Christie’s Art Auction Recorded on Artory Blockchain

Click here to view original web page at

Auction house Christie’s has sold a record 42 different pieces of art on the blockchain for a whopping $317.8 million.

Information regarding the auction was recorded on a private Ethereum-based blockchain managed by the software company Artory. It’s the first time an art auction of this price level has been recorded on the blockchain.

Getting All the Details

A press release for Christie’s details the kind of art that was sold. It states:

On an historic night for American art, ‘An American Place: The Barney A. Ebsworth Collection Evening Sale’ at Christie’s in New York realized $317,801,250. Thirteen artist auction records were set and two records by medium, including that for the most expensive work of pre-war American art with Edward Hopper’s ‘Chop Suey,’ which sold for $91,875,000 (including buyer’s premium). The greatest privately-owned collection of American Modernist art ever to come to market produced deep bidding, as Ebsworth’s laser-like focus on buying only the best was reflected in the competition for museum-quality works by artists of the caliber of Hopper, Georgia O’Keeffe, Charles Demuth, Joseph Stella, Charles Sheeler, Willem de Kooning and Jackson Pollock.

Which Artists Were Popular?

Bidders from roughly 23 different countries came to place their bets on the available art pieces. Other notable works that sold for big bucks included Pollock’s “Composition with Red Strokes,” which went for a whopping $55.4 million on its own.

Artory runs what it calls “The Registry,” a distributed ledger system that records notable events and circumstances pertaining to modern art. Data such as item titles, descriptions, auction dates and final prices are encrypted and stored on the system. The identities of art owners and buyers are kept anonymous, and individuals are given secure digital records of their artwork’s history. Each sale generates a new art certificate to boost confidence in the growth of the market.

Keeping the Momentum Going

Last Thursday, an additional 49 more works from the Ebsworth collection were put up for auction. This sale was also recorded into the Artory blockchain. Christie’s mentioned that the auction season has thus far garnered funds exceeding $650 million.

Commenting on the use of blockchain technology, the press release states:

The sale also marked the first time an art auction at this price level has been recorded on a blockchain via a secure digital registry administered by Artory, a leading art-centric technology provider. The introduction of this technology for the sale of the Barney A. Ebsworth Collection continues Christie’s legacy of leading the industry by introducing innovations in the context of major collections for the ultimate benefit of our clients.

Could the blockchain assist art-related ventures in other ways? Post your thoughts below.

Images courtesy of ShutterStock

Information regarding the auction was recorded on a private […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by
Tags: ethether

Recent Posts

The best ways to buy furniture online for Bitcoins

Overview Buying furniture for cryptocurrency For most of its existence, the Bitcoin community (BTC) believed that cryptocurrency would be a… Read More

5 hours ago

Bitcoin trades dangerously close to $10,000 mark

Bitcoin's (BTC/USD) rebound from August lows remains short-lived. Satoshi Nakamoto is said to reveal identity later on Sunday. A break… Read More

5 hours ago

Bitcoin Price Will Go From $20,000 to $50,000 by 2021: Analyst

Share Tweet Send Share Economist and crypto analyst Alex Krüger believes that $20,000 won’t be the all-time high (ATH) bitcoin… Read More

5 hours ago

Terrorists Turn to Bitcoin for Funding, and They’re Learning Fast

via Middle East Media Research InstituteSAN FRANCISCO — Hamas, the militant Palestinian group, has been designated a terrorist organization by… Read More

5 hours ago

Bitcoin as a Safe Haven: Yet Another Recession Indicator Flashes

For the umpteenth time in a matter of weeks, a recession indicator has started to flash. Bitcoin, which has begun… Read More

5 hours ago

The Entire Bitcoin Dynamic is Changed by the Lightning Network, Says Samson Mow

Samson Mow, BTCC Exchange’s Founder and Magical Crypto Friends and Blockstream’s present CSO, recently shared his views on Bitcoin’s status… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More