eBay and Sotheby's: A New Global Partnership

Big news coming from Sotheby's, as they announced at the Global Networking Event, now underway in Miami, Florida, that they will partner with eBay to accomplish new luxury online auctions. According to Business Wire, "eBay and Sotheby’s will start by offering a number of live auctions that are taking place at Sotheby’s headquarters in New York. To accomplish this, eBay in the near future will be launching a newly-designed experience on its site, tailored for collectors of rare, unique and premium art and collectibles as well as first-time buyers. Sotheby’s will be the preeminent anchor tenant in the revamped marketplace, which will include a new live auction feature and real-time bidding from anywhere around the world." In addition, "the Sotheby’s auctions will present 18 collecting categories" and they plan to "explore themed and time-based sales, as well as live auctions from Sotheby’s other global salesrooms." A wonderful move to accommodate the increasing importance of technology in a global luxury marketplace.