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.

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

To: Iceberg who wrote (187)	2/19/1999 2:53:00 PM
From: Steve Andrew	Read Replies (1) \| Respond to of 236

Hi Ice Man... Lets'start with your second question first: The 1,500# of art dealers is not any great victory considering BID queried over 3000 dealers (Near 50% hit ratio), Many of the dealers I spoke with said their signature to the BID contract was not signed with any blood ink.....they believe the contract is laden with loopholes and outs, so they could abandon it anytime they felt like it and in wouldn't be very good PR for BID to press any serious legal case. In fact, many quoted Dede Brooks (BID CEO) as saying it wasn't "iron-clad" anyway. The market has spoken on this and obviously remains mostly unimpressed. I am waiting for the stock to trade down to 28.5 (+/- 1%) as that is where the last breakaway gap occured and I am a believer in gap refills. That said, I don't think the stock acts that good or bad here and am happy to watch it and wait for the complete Internet response from Christies, due March 1. I do feel that BID might become a better buy near then as Christies seems to be out-to-lunch on its web auction strategy. However, I DEFINITELY think the competitor to watch is Yahoo+Butterfield(they did the O.J.auction earlier this week and were quite successful with the eyeballs they drew. I think the convolution of BID's attempt to liquify their lower end w/dealers as partners vs. their adamence to avoid integrating the net into their upper-end (fear of mgn. cannabalization will bite them later on (far out). I hope that enlightens the thread somewhat. Just my opinion, that's all. Good luck to all.