EBay on Monday (Oct. 6) said it would support a fine art auction with some of New York City’s top art galleries—Swann Auction Galleries, Doyle New York and Freeman’s—as consumers are showing a willingness and a comfort to spend a lot more online.
“The new product, now available to a handful of galleries, will feature items priced anywhere from a few thousand dollars to more than $100,000. Users can bid on items against others in real-time, simulating the feeling of a live auction, instead of the delayed bidding system that eBay auctions usually entail,” The New York Times reported. “The move is a recognition by eBay and gallery owners that some shoppers are willing to buy high-priced items online. Luxury shopping sites like 1st Dibs and Gilt have proven that customers can spend thousands of dollars on the Internet without ever having to see and vet the items in person.”
EBay tried something very similar back in 1999, but the effort fizzled. But in those 15 years, shoppers have become much more comfortable with online ordering.
“What eBay has not introduced yet, however, is its flagship live-auction partnership with Sotheby’s, the renowned auction site, which was announced in July. The company has not yet said when this will start,” The Times noted.
