You can easily keep track of and update an artwork's owner history. In the Advanced Options menu for the artwork, click Locations / Owners.
The current owner will be displayed in the history, along with any prior owners, organised by date.
From here you can update the artwork's current owner by clicking Add Entry, then chose the owner by searching your contacts and add the date of the owner change. Please note this date must be the most recent of your history. Click Save and the new owner will be added to the top of the history list and update the artwork's current information.
To add a back dated entry into the history click Add Entry, chose a person from searching your contacts and add a date in the past. Click Save and the owner will be added to the history.
You can also add a reason if required. If you need to create a new contact, you can do this easily by clicking Create Contact.