Art galleries have curators who select artwork based on artistic merit, theme and demand. These are showcased at exhibitions for prospective buyers. Often, these exhibitions are promoted online and offline. If a buyer expresses intent to purchase, the gallery facilitates the sale including all incidental tasks (paperwork, certificates of authenticity and delivery or shipment).
Auction houses follow a similar process. Artwork owners, including collectors, estates and galleries, contract with the auction houses to sell their art. Experts are appointed to value the art to get it ready for auction. A contract is executed between the seller and auction house to finalise key terms. The auction house then organises a physical or virtual venue to auction the artwork. The art industry has also seen its share of innovation. For example, many art museums and galleries in the US have implemented Apple’s iBeacon technology to enhance visitor experience and boost revenue by tracking smartphones and gathering analytics, including visual representations of interactions with exhibits.
In this process, art galleries/auction houses are often privy to and process extremely sensitive and confidential data. This includes but is not limited to (i) artwork documentation on history of ownership, exhibition history and authenticity records, (ii) personal details of visitors, donors, buyers, appraisers, curators and artists, (iii) sales records, (iv) correspondences with artists and clients, (v) cataloguing information such as titles, descriptions, dimensions, materials, creation dates and artist details, (vi) pre-sale valuation and estimates, reserve price and hammer price including any premium for the art work, (vii) sale records of an artist’s prior work, and (viii) sensitive data of bidders, buyers, consignors and collectors including their contact details, identification documents, past transaction records and preferences, website interactions and financial and bank information.
All this data, especially details of bidders, their bidding history, mode of payment and place of delivery, is extremely confidential. In fact, a lot of art collectors prefer to make purchases anonymously, especially if their interest in that specific artwork can result in an increase in price.