Christie's plans Web auctions in 2000, revamped site
NEW YORK, Nov 12 (Reuters) - Christie's, one of the world's
largest fine art auction houses, plans to launch an expanded
Web site with interactive features for all Christie's sales in
early 2000 and online auctions thereafter.
The revamped Web site will include online auctions within
the first half of 2000 and bids for live auctions through the
Internet, a spokeswoman told Reuters. Other features include a
searchable guide to 200,000 lots offered for auction around the
world, broadcasts of live sales over the Internet and an online
bookshop.
"Rather than segregate the Internet from Christie's core
business, the firm is integrating the interactive business into
our mainstream business," Edward Dolman, managing director of
Christie's Americas.
The move thrusts the 233-year-old auction house into the
growing field of Internet auctions, dominated by eBay Inc.
<EBAY.O>, and joined by Internet retailer Amazon.com Inc.
<AMZN.O> and Internet media network <YHOO.O>.
Unlike those other sites, however, Christie's Web site will
focus on its core business of high-end sales and auctions, such
as art collections, books and manuscripts and other rare items.
Christie's, which was recently taken private by Artemis,
the holding company of French art collector Francois Pinault,
had been approached by several companies to launch an auction
Web site, a spokeswoman said without naming the companies.
"But we decided to do this on our own, because we didn't
want to dilute the Christie's brand and we wanted to protect
our core values of integrity, authenticity and
confidentiality," the spokeswoman said.
Earlier this year, Amazon.com announced a $45 million
investment, or a 1.7 percent stake, in Christie's rival
Sotheby's Holdings Inc. <BID.N>, in a deal to launch a joint
auction site.
Christie's announcement comes in the wake of an article in
Friday's issue of the Wall Street Journal that said the auction
house's top management was shelving plans for the online site.
citing a $15-million-plus cost, legal liabilities, the head
start by Sotheby's and the difficulty of generating profits on
high volume but lower-value items.
"We would not be investing that money wisely," the Journal
quoted Dolman as saying.
"He was referring specifically to the sale of high-volume
lower-value items," a spokeswoman said, not the other factors
cited by the article.
She declined to specify the costs of revamping the site.
REUTERS
Rtr 16:43 11-12-99 |
