Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: waldo who wrote (6522)	1/19/1999 9:21:00 AM
From: Muwamba	Read Replies (1) \| Respond to of 37507

pre open @ $7.63 can

To: waldo who wrote (6522)	1/19/1999 6:09:00 PM
From: Thomas Kirwin	Respond to of 37507

Sotheby's Joins Internet Craze With Online Auction Site Tuesday January 19 2:50 PM ET By Reshma Kapadia NEW YORK (Reuters) - Renowned auction house Sotheby's Holdings Inc. (NYSE:BID - news) said on Tuesday it is launching an Internet auction business, joining the flurry of companies rushing to capitalize on electronic commerce and triggering a 16 percent jump in its share price. Shares of Sotheby's, founded in 1744, soared $5.19 to $37.31 on the New York Stock Exchange in early afternoon trade. ''We expect the site to be up and running by early summer, said Sotheby's chief executive and president Dede Brooks. ''Our target will be new as well as existing customers.'' One analyst said a big question is whether Sotheby's can succeed without damaging its upscale brand name or hurting its core business. Brooks said sothebys.com (http://www.sothebys.com), which will offer a platform for auctioning art, antiques, jewelry and collectibles, would complement its core business, not detract from it. ''Our hope is that as a result of a growing client base, there will be a crossover between the core auction and Internet businesses as (clients) see how much fun it is to partake in (auctions),'' Brooks said in a phone interview. Sotheby's named Susan Solomon, formerly President and Chief Executive of Sony Worldwide Networks, as CEO of sothebys.com. The company said in a statement it would make an initial investment of more than $25 million for personnel, marketing and capital costs for the Internet venture over the next 12 months, acknowledging the venture will hurt earnings. However, Brooks declined to put a figure on the impact. Sothebys.com will compete with recent IPO successes uBid Inc. (http://www.ubid.com) and eBay Inc. (http://www.ebay.com). EBay will be the more formidable foe since uBid offers mostly close-out and refurbished consumer electronics. EBay matches buyers and sellers for a range of items from Hollywood memorabilia to antiques. Brooks said sothebys.com, which will offer property from its existing business as well as items from leading art dealers and other members of the arts community, differs from eBay. ''Ebay is a totally different company. Their average lot value is $40 and ours will be a multiple of that. We guarantee the authenticity (of the items), and on eBay it is seller to buyer. We will also handle the payment mechanism.'' Hoping to attract millions of new customers, Sotheby's said it will auction part of the extensive baseball memorabilia of collector Barry Halper this summer on the Internet and part via a live auction at its Manhattan office.

To: waldo who wrote (6522)	1/19/1999 6:19:00 PM
From: Thomas Kirwin	Read Replies (1) \| Respond to of 37507

Question - Will Sotheby Develop its Own Auction Site? Why the delay in implimentation? ''We expect the site to be up and running by early summer, said Sotheby's chief executive and president Dede Brooks. Familiar ring - Business to Business? Fun? ''Our hope is that as a result of a growing client base, there will be a crossover between the core auction and Internet businesses as (clients) see how much fun it is to partake in (auctions),'' Brooks said in a phone interview. Simulcast - Live & Internet Auction Hoping to attract millions of new customers, Sotheby's said it will auction part of the extensive baseball memorabilia of collector Barry Halper this summer on the Internet and part via a live auction at its Manhattan office. Could it be possible that Bid.com is involved in the development of Sotheby's Auction Site? Regards, Tom