NEW YORK--(BUSINESS WIRE)--Artory, the only blockchain-secured registry of verified information about artworks and collectibles, has launched their first major product, the Artory Registry (registry.artory.com).
The Artory Registry is the world’s most secure, object-centric database that contains vetted data about artworks and collectibles. It creates a secure, digital record of transactions by leveraging modern cryptography and blockchain technology to record significant events throughout each lifecycle. Artory’s goal is to build confidence in an artwork’s ongoing provenance, as well as provide greater efficiency in its eventual resale. Collectors who register their artwork with Artory will be able to prove ownership while remaining completely unknown to the public and to Artory.
The first artworks to be registered are from An American Place: The Barney A. Ebsworth Collection sold by Christie’s, the world’s leading auction house. The collection, widely recognized as the most important private collection of 20th Century American art ever to come to market, totaled $323,103,500 across both the evening and the day sales, led by Edward Hopper’s singular masterpiece Chop Suey, which broke the record for any work by the artist and for the category when it sold for $91,875,000. Each of the artworks sold in the auctions can be viewed digitally at registry.artory.com.
“We’re fulfilling a vision that we started over a year ago: to ensure that buyers and collectors can transact with more assurances than ever,” said Nanne Dekking, Founder & CEO of Artory and Chairman of The European Fine Art Fair (TEFAF). “Working with auction houses like Christie’s, Artory is able to provide a true proof of ownership in a completely anonymous way. For ﬁrst-time buyers and experienced collectors alike, Artory provides the reassurance that they are dealing with a vetted seller, there will be an immutable record of the transaction, and that they will receive a certiﬁcate of sale from an independent third party—all of which encourages them to buy and sell with conﬁdence.”
Richard Entrup, Chief Information Officer at Christie’s commented: “The introduction of blockchain into such a significant sale has opened a new collecting audience to the benefits of blockchain technology in the art space, and sets the stage for more developments in the future. The Ebsworth Collection has been the ideal pilot for exploring this exciting innovation, given the rich history and provenance of the artworks in the collection and the exceptional prices achieved for major blue-chip artists, including Edward Hopper and Willem de Kooning. Christie’s is pleased to have introduced this exciting technology to our clients as a first step towards broader adoption of blockchain innovations for the art market.”
On Artory’s growth plan for 2019, Dekking stated, “A priority for us over the next several months will be to grow the amount of records in the Registry. We are doing this by onboarding more auction houses and dealers as our partners, as well as working with art data providers. 2019 will be the watershed year for this technology, and we’re proud to be leading the charge with an innovator like Christie’s.”
For more information, visit Artory.com.
Artory exists to protect and grow the prosperity and enjoyment of those who buy, own, and sell art and collectibles. The company’s core product, the Artory Registry, is a blockchain-secured, digital registry of verified information about artworks, collectibles, and their history. Artory was founded in 2016 by Nanne Dekking, TEFAF Chairman and former Sotheby’s Executive, with the endorsement and support of Hasso Plattner, the founder of SAP Software Solutions and an internationally-renowned art collector, and Ron and Jeff Cordover of the Corber Corp private equity firm and art-collecting family. They all recognized the need for greater confidence and transparency in the art market, and the transformative powers of blockchain to fill that gap. With teams in New York and Berlin, Artory partners with renowned auction houses and other art businesses around the world who are committed to bringing a greater level of transparency and confidence to the market. Learn more at http://www.artory.com.
Christie’s, the world's leading art business, had global auction, private and digital sales in the first half of 2018 that totalled £2.97 billion / $4.04 billion. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and international expertise. Christie’s offers around 350 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern, Old Masters and Jewellery.
Alongside regular sales online, Christie’s has a global presence in 46 countries, with 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, and Shanghai.
*Please note when quoting estimates above that other fees will apply in addition to the hammer price - see Section D of the Conditions of Sale at the back of the sale catalogue.
*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and are reported net of applicable fees.