For those who watch auctions for sport, guarantees tend to take the fun out of things: There’s nothing less exciting than knowing an artwork has sold before the gavel comes down. But those with skin in the game bask in the security of irrevocable bids. Like them or loathe them—and despite the recent decline in guaranteed lots—they remain widespread at the top end of the market.

Artclear and The White Glove announce joint pilot project utilising auction guarantees and blockchain technology.