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
The European Investment Bank is providing a EUR 718 million strong support for rail transport, electricity distribution as well as energy efficiency and renewable energy in Turkey.
more »
The European Investment Bank (EIB) has approved a EUR 150 million loan for expanding the Port of Barcelona. EIB Vice-President Carlos da Silva Costa and the Chairman of the Barcelona Port Authority, Jordi Valls, signed the finance contract in Catalonia’s capital.
more »
The extent to which hedge funds should be regulated is one of the key issues facing MEPs on the Economic and Monetary Affairs Committee.
more »
The European Investment Bank (EIB) is lending CZK 2 billion (approx. EUR 73 million) to the Municipality of Plzen (West Bohemia) to implement priority urban regeneration schemes identified in the city’s 2004 Development Plan.
more »
High-speed rails, supporting indigenous people's rights, protecting nature and wildlife, student loan facilities, construction and refurbishment of hospitals and reduction of industrial pollution are just a few projects supported by the European Investment Bank.
more »
The European Commission has authorised, under EC Treaty state aid rules, €14.3 million of aid, which the Slovak authorities intend to grant to Volkswagen Slovakia, belonging to the Volkswagen AG, for the transformation of an existing plant in Bratislava.
more »
MEPs began acting on their new Lisbon Treaty power to co-decide fisheries policy with Member States on 1 December - the day the treaty took effect - with a Fisheries Committee indicative vote on three legislative proposals.
more »
With seasons’ holidays approaching DnB NORD Bankas will offer better cash exchange rates for Great Britain’s pounds, Swedish, Norwegian and Danish krones until 31st December.
more »
The European Investment Bank (EIB) today agreed to provide a EUR 40m loan to FirstRand Bank to promote energy efficiency and renewable energy projects across South Africa.
more »
The European Commission has today approved an application from Lithuania for assistance under the European Globalisation adjustment Fund (EGF).
more »