Sotheby's will join hands with eBay to develop an online platform

Source: Internet
Author: User
Keywords eBay Sotheby's BIDnow auction market auction business
Tags active users business class collectors development global users integrated internet

The global auction giant Sotheby's recently announced that it will jointly eBay cooperation in the development of online platform for global users to explore, browse and bid for top art, antiques and all kinds of collectibles online. This is also an expansion and upgrade of online auction business by Sotheby's outside its own website.

Sotheby's has a long history of auctioning numerous world-class works of art and precious collections each year, and its expertise is well known in the world. The eBay technology platform and integrated payment solution are highly sophisticated and attractive to collectors' online bidding and offer 145 million eBay active users worldwide Provides an easy and easy online shopping experience. The strength of both parties involved brings extraordinary benefits to the project.

The program takes the lead in Sotheby's global headquarters in New York, more than a selection of auction will provide a new real-time bidding services. eBay will soon launch a newly designed online platform in collaboration with eBay. This will not only provide personal design services for guests collecting rare artworks and collectibles, but also take full account of new buyers who are bidding for the first time. Sotheby's auctions will hold an important place on eBay's new online marketplace, giving users the ability to compete in real-time via the Internet from anywhere in the world with the newly designed real-time bidding.

The auction will cover 18 collection categories. Both parties will also explore the feasibility of special theme auctions and time-limited auctions and will explore ways to extend the service to other Sotheby's auction locations around the world. The evening auction will not be included in the plan yet.

Bruno Vinciguerra, Chief Operating Officer of Sotheby's, said: "Given the development of the art market, the development of a new generation of technology and the strength of both parties, I believe it is a good time for this online cooperation program and we look forward to working with eBay to bring Sotheby's The auction offers a broader community of collectors from all over the world, and we believe this partnership will be an excellent opportunity for us to bring art to more collectors at a spectacularly larger scale This is where the program is exciting.

Devin Wenig, president of eBay Internet Market, said: "Sotheby's and eBay are both committed to expanding the real-time auction market and this cooperation is an important milestone. Sotheby's is one of the most respected brands in the world, Of the strength of the eBay e-mail platform and the global technology platform and the global network, we can cross the time, geographical and installation restrictions, the world's best and most exotic boutique to global users. Such extraordinary experience, I believe we must be widely welcomed by customers "

With the development of science and technology, mobile commerce is far-reaching and collectors are increasingly using online services so that mobile devices bid for high-end collections. Looking forward, Sotheby's and eBay will focus on the development of products that meet the purchasing power of both client groups, including jewelery, watches, printmaking, wine, photography and 20th-century design. Currently, the global art market is estimated to be worth about 650 billion U.S. dollars. However, the annual online sales are far less than other luxury goods. According to industry estimates, online art transactions are expected to rise to $ 13 billion by 2020.

Beijing Commercial Daily comprehensive report Song Yuanyuan / watchmaking

Sotheby's online auction numbers

In 2013, a total of 17% of the lots attracted customers to bid online

John James Audubon's "Elephant Edition" "American Birds" in April this year for 3.5 million US dollars, the highest Sotheby bid real-time bidding record

Compared with 2012, the number of lots sold through the Internet in 2013 increased by 36%

32% of BIDnow Instant Online Bidders never trade in Sotheby's by 2013

Compared with 2012, the number of people browsing using mobile devices in 2013 doubled

To date, mobile device traffic accounted for 25% of total Sotheby's web traffic in 2014

eBay related numbers

In 2013, the total volume of merchandise collected (GMV) was close to USD 8 billion, with a total of 36 million active buyers

More than 3,500 auctions were auctioned daily at eBay for more than $ 5,000 in sales

eBay has a total of 145 million active users in 190 countries around the world

40% of eBay traffic involves mobile devices

In 2013, the total amount of mobile commerce conducted through eBay was 20 billion U.S. dollars, and the related trade volume in 2008 was zero

Source: European Art Fair 2014 (TEFAF) 2014 Report

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