0
0
Christie’s Faces Setback with Website Hack
Christie’s, a renowned fine art auction house, is currently facing a significant challenge as hackers took down its website last week, disrupting its plans to sell an estimated $840 million worth of art. The impact of this cyberattack has been substantial, causing the site to be offline as visitors were redirected to a message apologizing for the inconvenience.
The incident comes at a crucial time for Christie’s, with three major auctions scheduled for this week. One of the highlights includes the collection of the late art collector Rosa de la Cruz, anticipated to fetch $30 million on May 14. Additionally, a grouping of 21st-century art valued at over $100 million and another grouping of 20th-century art with an estimated worth of $500 million are also set for auction on May 14 and May 16 respectively.
Digital Growth Strategy
Christie’s had previously emphasized the importance of its digital platform as a key driver for growth and a means to cultivate relationships with new and younger buyers. In a statement released in December, the auction house highlighted that a significant portion of new American bidders and buyers were introduced to Christie’s through its online platform, illustrating the platform’s role in expanding its reach and attracting a diverse clientele.
Response to the Cyberattack
The New York Times was the first to report the outage, attributing it to a technology security issue identified by Christie’s on Thursday evening. Despite the setback, Christie’s has confirmed that all auctions, with the exception of a collection of high-end watches, will proceed as scheduled. Bidding will primarily take place through phone and in-person channels, as efforts are made to set up a placeholder website for online buyers to access auction catalogs, although bid submissions online will be temporarily unavailable.
In conclusion, the recent cyberattack on Christie’s website has posed a challenge for the auction house, disrupting its operations during a critical period of high-value art auctions. As efforts are undertaken to address the issue and accommodate buyers through alternative channels, the resilience and adaptability of Christie’s in navigating such challenges will be closely watched by the art market community.
Image/Photo credit: source url
