Christies online bidding success

Published October 28th, 2006


Christie’s new real-time online bidding service has taken in $2.8 million (1.5 million pounds) in sales since its July launch, including more than $1 million from its recent blockbuster sale of “Star Trek” memorabilia, the auction house said on Friday.

“We are delighted with the smooth roll out of Christie’s LIVE,” Andy Foster, Christie’s International Director and Christie’s Americas Chief Operating Officer, said in a statement.

Some 1,700 people, nearly half of them new clients, from more than 45 countries have registered since the debut of Christie’s LIVE, which allows Internet users virtual attendance at live auctions from home, office or other remote locations.

Auctioneers survey real-time online bids on monitors, while also fielding salesroom and telephone bidding for everything from contemporary art to furnishings and memorabilia.

Widespread, rapid acceptance of the technology allowed the service to extend across categories, Foster added, citing in particular the recent three-day “Star Trek” auction which raked in more than $7 million in sales — with some $1.1 million coming from on-line bidders.

A forthcoming ten-fold increase in capacity will be able to accommodate “thousands of bidders simultaneously on any given day,” Foster said.

So far the service has been used for more than 40 auctions at locations in New York and South Kensington, London, with most of the activity in the New York salesroom. But its expansion is slated for Christie’s’ King Street, London, and Amsterdam operations by the end of 2006, and Paris in early 2007.

The top lot sold online was Syed Haider Raza’s “The Earth,” a contemporary Indian painting that went for $408,000 in September to an Indian private collector. But it was October’s “Star Trek” sale that provided the first large-scale test.

More than 500 people from 19 countries, virtually all of them new clients, signed up and won more than one-fourth of the 1,000 lots on offer while bidding on 97 percent of them.





Related Articles

Christies appoints Laura Paulson as Deputy Chairman, Christies Americas

Christies Star Trek Auction

Toulouse-Lautrec’s The Laundress for $22,416,000

Proxibid Facilitates Online Bidding of $5 Million plus in a Single Day

Proxibid Enjoys Unprecedented Success with Farm Equipment Auctions