US: Sotheby’s and eBay team up

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Sotheby’s and eBay were working together to make sought-after artwork, antiques and collectables available for auction online, the companies said yesterday. They would begin by placing some live Sotheby’s offerings up for bid in New York on eBay’s website. Sotheby’s would be the “anchor tenant” on a redesigned eBay site, with auctions in 18 categories, and the companies would work on other types of sales along with live auctions from other Sotheby’s locations. The website is looking for new sources of growth as its traditional business, including fixed-price item sales and auctions, has slowed, with sales growth of 10 percent in the first quarter from a 12 percent gain last year. – Bloomberg


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