In a classic example of the old embracing the new, Sotheby's, the
world's oldest fine art auctioneer, and eBay, the online
marketplace, are to join forces on the Internet.
The alliance, announced last week, involves three main components.
- In early summer the companies will introduce Sothebys.com
online auctions into the eBay marketplace
- Sotheby's will adopt eBay's Live Auctions technology to enable
realtime online bidding for a number of its traditional auctions
held in London and New York
- The companies will market Sothebys.com across both online and
traditional media.
Once launched, the new site, to be built and hosted by eBay, will
replace online auctions at Sothebys.com as well as eBay Premier
(the site for high-end art buyers). It will be accessible from both
companies' Web sites.
Property posted on the new site will be drawn from Sotheby's and
its network of dealers and regional auction houses around the
world. Selected eBay Premier dealers and Butterfields Auctioneers,
an eBay subsidiary, will sell arts, antiques and collectibles on
the site.
Bill Ruprecht, chief executive officer of Sotheby's, feels the two
companies have complementary strengths.
"This alliance, with the most successful online marketplace in the
world, combines eBay's powerful technology platform and global
following of 42 million registered users with Sotheby's unmatched
expertise and experience," he said.