Sotheby_s Powers ahead with groovy launch of online auctions.
Published:
20 November 1999 y., Saturday
AUSTIN POWERS_ car and a gold bar from an 1857 shipwreck are among the objects being auctioned online today to launch Sotheby_s joint web site with Amazon.com. Sotheby_s will net a 10pc commission for every collectible it sells over sothebys.amazon.com - a hefty commission compared with internet auction house eBay which charges around 2pc. Sotheby_s has set itself a $100m revenue target for the first six months of the web site. The new site means net surfers in the UK, Germany and North America can bid for anything from paintings to sports memorabilia. Every collectible on the internet is authenticated by Sotheby_s 4,500 dealers, paid for by credit card and shipped to the buyer_s home. Diana Brooks, Sotheby_s president and chief executive officer, said sothebys.amazon.com "introduces a world of wonderful - and authenticated - art, objects and collectibles to a global audience. This new medium offers new as well as experienced auction bidders access to the two standards which have ensured Sotheby_s success since 1744 - unrivalled expertise and a vast selection of exciting property." Mrs Brooks added that Sotheby_s is planning to launch its own separate web site, Sothebys.com, "shortly". For Jeff Bezos, the founder of Amazon.com founder and its chief executive officer, the joint venture with Sotheby_s is another step along the road to becoming the world_s biggest e-tailer. In the US, Amazon.com has already moved away from books to music, toys, videogames and electronic goods. Mr Bezos described the joint venture as "a perfect match".
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
On 11 February, heads of state or government of European Union member states will meet in Brussels to seek a commitment towards implementing a revitalised economic strategy to boost employment and growth in the EU.
more »
International Monetary Fund forecasts that Lithuania’s economy will grow 1.6 % this year, making it “the only one of the three Baltic economies expected to be in the positive territory in 2010”.
more »
Raynair announced it would open its 40th and 1st Central European base at Kaunas, Lithuania’s second largest city, in May with 2 based aircraft and 18 routes.
more »
A new Partnership Strategy for Morocco has been approved by the Board of Executive Directors of the World Bank.
more »
The electric car is an opportunity for European industry.
more »
The EBRD’s Board of Directors has adopted a new strategy for Kazakhstan, which reinforces the Bank’s commitment to further support the Kazakh economy and sets out the priorities for its activities in the country over the next three years.
more »
The European Commission has authorised, under EU state aid rules, plans notified by Sweden to provide a guarantee that would enable Saab Automobile AB to access a loan from the European Investment Bank (EIB).
more »
At the informal meeting of the Ministers of Competitiveness (Science and Industry), to be held between 7 and 9 February in San Sebastian, the issues on the table will include placing science at the top of the EU agenda and showcasing its role in economic recovery, as well taking the debate on the electric vehicle to EU level.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 27-month Stand-By Arrangement with Jamaica in the amount of SDR 820.5 million (about US$1.27 billion) to support the country’s economic reforms and help it cope with the consequences of the global downturn.
more »
Mr. Nadeem Ilahi, chief of an International Monetary Fund (IMF) staff mission to the Kyrgyz Republic, issued the following statement today in Bishkek.
more »