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Non-Tech : Sotheby's (BID) Auction House -- Ignore unavailable to you. Want to Upgrade?

To: Geoff who wrote (154)	1/25/1999 4:07:00 PM
From: Steve Andrew	Read Replies (1) \| Respond to of 236

Geoff, I wholeheartedly agree with your assessment of the Ebay/BID relationship. They simply are not quite similar enough to warrant any comparison. On point two, I would hardly characterize the Sothebys short interest #'s as very large. The ratios are still, even with todays #'s release, relatively minor. The days to cover are still less than five and most short squeezes involve thinly traded stocks with d-t-c ratios of 10 or higher. I am sure short covering is indeed happening, but hardly enough to justify the recent run-up. Lastly, indeed it has been long recognized that Christies would be entering the on-line auction biz, however, few recognize that Sotheby's recent internet associates offer was poorly received by the art dealing community and likely to be heavily negated by the Christies offer to sign up the dealers with the same benefits without any demand for exclusivtivity. I don't think that has been factored in yet at all. Good luck to you and all others. Steve