Sotheby's, eBay plan live auctions
NEW YORK — Sotheby's and eBay announced a partnership on Monday to make it easier to buy antiques, collectibles and works of fine art online.
The international auction house and the online marketplace plan to broadcast live auctions from the New York headquarters of Sotheby's that will include real-time bidding from anywhere in the world.
Auctions from other locations could follow.
The deal will connect Sotheby's, with its extensive inventory of fine art, antiques, books, jewels, watches and furniture, with eBay's 145 million active buyers around the world.
“We are joining with eBay to make our sales more accessible to the broadest possible audience around the world,” Bruno Vinciguerra, Sotheby's chief operating officer, said in a statement.
The timing of the venture occurs as the value of individual sales has escalated to highs. Francis Bacon's triptych painting, “Three Studies of Lucian Freud,” sold for $142.4 million last November in New York, the highest price ever for an item sold at auction.
Total sales in the global art and antiques market rose 8 percent to $65.9 billion last year, the highest level since 2007, with Asian buyers playing an increasingly important role, according to the European Fine Art Foundation's annual report.
Online sales could grow at a rate of at least 25 percent per year despite accounting for about 5 percent of sales in 2013, the foundation said.
Sotheby's said online bidders competed for 17 percent of the total lots it offered in 2013, and the number of lots purchased online jumped 36 percent compared to 2012.
John James Audubon's book “The Birds of America,” which fetched $3.5 million, set the record for an online purchase in a live auction at Sotheby's in April.
For eBay, the deal with Sotheby's is a chance to expand into the live auction market.
“When we combine its inventory with eBay's technology platform and global reach, we can give people access to the world's finest, most inspiring items — anytime, anywhere and from any device,” said Devin Wenig, the president of eBay Marketplaces.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Parks threatened by dispute over renewal
- Texas, Oklahoma residents urged to flee flooding
- Senate foils phone spies in close vote
- Veterans frustrated by GOP presidential debate on Iraq War
- Michigan woman marks 116th birthday
- Why FedEx truck slammed into bus in Calif. in fatal crash still unknown year later
- Congress passes short-term fix for highways program
- Harvey Girls recognized for role in history of West
- Pipeline didn’t have shut-off valve
- Clinton Foundation reports as much as $26.4M in previously undisclosed payments
- Police kill suspect in fatal shootings of Missouri woman, son