Auction house Christie’s will put the system trades on the blockchain

A distributed registry used by more and more companies from different sectors of the economy. The blockchain already has consolidated its position in retail and banking sphere, now the sphere of art.

One of the world’s largest auction houses Christie’s, along with the blockchain startup Artory announced the bidding of the “American abode. A Collection Of Barney Ebsworth”. All lots will be encrypted in the blockchain.

Who uses the blockchain?

Founded in 1766, in the UK, auction house Christie’s has been selling new works and works of art from private collections of the highest quality, according to the website of the company. In the first half of 2018, the auction house sold works by 4.04 billion.

Belongs to the new collection of Barney A. Ebsworth. Experts call it “the most important private collection of American art of the 20th century.” Among the lots on auction will be works of artists and sculptors, among which are Willem de Kooning, Georgia O’keeffe, Jasper Johns and Franz Kline.

Photo: The National

The auction house /www.ccn.com/major-auction-house-christies-to-integrate-blockchain-technology-for-art-sales/”>CCNsaid that the auction will take the participation of 90 lots estimated at $ 300 million. Information about each work of art will be encrypted in a distributed registry, and the future buyer together with the product will get the blockchain-certificate describing the work and results of the auction.

In early September it was reported that the platform Maecenas sold for the first ever cryptocurrency auction of art work by Andy Warhol, “14 little electric chair”. The amount of the transaction amounted to 5.6 million dollars, and the auction was attended by about 800 people. Most of them are art lovers from Asia and Europe.

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