The 270-year old auction house Sotheby’s and online market place eBay are joining forces to expand the reach of live auctions for rare and vintage wines.
The combination of the Sotheby’s inventory and the world class climes of eBay’s technology platform will give buyers the opportunity to browse and bid on some of the world’s finest items, anytime and anywhere.
Sotheby’s lots purchased has risen by over a third in the last two years, and in 2013 online bidders accounted for 17% of the total lots on offer. Thus, expanding their online reach was the next logical step.
The combination of the powerful auction houses will attract a new online audience to the rare lots that Sotheby’s offers, and will be easily accessible through eBay’s familiar bidding and purchasing system.
The partnership will launch with eBay offering live bidding access to auctions in the Sotheby’s New York headquarters. The site will launch a newly designed experience, which is aimed at both first time buyers and experienced collectors.
This joint venture marks a shift in the bidding world, and will expand rare wines and collectables to a new global audience for the first time.