Sotheby's Successfully Launches New Online Bidding Platform During Masters Week Sales Series
SOTHEBYS (BID)
Last sothebys earnings: 5/2 07:00 am
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Source: PR Newswire
NEW YORK, Feb. 8, 2019 /PRNewswire/ -- This past weekend, Sotheby's (NYSE: BID) successfully conducted the first live auction on its new online bidding platform. The sale opened with two weeks of competitive online bidding before culminating in a live auction event held at Sotheby's New York headquarters on February 2nd. The auction featured paintings and decorative works of art – ranging from Old Masters and the Impressionists, to 18th and 19th Century continental furniture, and Asian art – and totaled $5.2 million, exceeding expectations and with an 84% sell-through rate. Conducted and recorded by the auctioneers digitally, the sale was also Sotheby's first paperless auction. "With this new platform, we have successfully used technology to marry the virtue of an online-only auction with a paperless live auction, ensuring that the preferences of all bidders can be met in a single event", said David Goodman, Sotheby's Executive Vice President for Digital Development and Marketi
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