Sotheby's

No sooner do I open my mouth in https://goscf.com/t/42254 to wit:




... than along comes ...

http://bits.blogs.nytimes.com/2015/...ys-auctions/ ebay Set to Open New Section on Its Site for Sotheby's Auctions

Must it ever be thus?

Cheers,

/s/ ikeyPikey

Q/ If I pay for my Vermeer with PayPal, do I get 6 months to send it back?

Terms have been announced to some extent. All sales are "as is, with all faults". They refer to Sotheby's "Conditions of Sale," and "Conditions of Guarantee," but these documents are not linked to the general announcement. Presumably they will be available somewhere when a specific auction is announced.

An online component of such an auction would seem to offer little benefit if the buyer's only protection is to personally inspect the lot(s) in advance (presumably in New York).

Having been at a few high-end IRL auctions last year (eg, Bonham's), I can testify that - as the article points out - real-time online bidding has become a very big part of the high-end auction business.

At one event, Bonham's had 5-6 people working the phones, and one busy person vocalizing the action on the net and, oh yeah, that guy with the hammer chatting-up the bidders on the floor.

The question here not whether, but how an auction house should implement real-time online bidding.

DIY gives you commercial security - no other company gets to see your customer base - and exclusive control over your investment, features, etc.

But ebay brings proven infrastructure, which reduces what Management Types call Program Risk. This is pretty important.

I would look to more big players in the auction trade to link up with more 3rd Party eCommerce providers.

Cheers,

/s/ ikeyPikey