The two announced today that they’re working on an online platform for bidders to peruse and buy pieces online, reports the Wall Street Journal, to keep up with the demand for high-end items people want to buy from their computers or mobile devices.
And while Sotheby’s has long been a big name in the physical auction world, last year 17% of of the total lots it offered were bid on via the Web. The time is right for an upscale, online channel, the two companies say.
“The growth of the art market, new generation technology and our shared strengths make this the right time for this exciting new online opportunity,” said Bruno Vinciguerra, Sotheby’s chief operating officer, in a statement. “We are joining with eBay to make our sales more accessible to the broadest possible audience around the world.”
The first live auctions will take place at Sotheby’s New York headquarters, with a new eBay marketplace dedicated to Sotheby’s will have a new live auction feature and real-time bidding.
Bay, Sotheby’s Team Up on Online Art, Collectibles Bidding [Wall Street Journal]