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".
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