Sotheby’s posts 50% on-line sales growth after platform enhancement

Eva González London (UK), 13 August, 2015

After five months and 113 sales in which all online bidding on and has been delivered through a partnership with Invaluable, Sotheby’s has experienced a hugh growth in online participation compared to the same period in 2014: the number of collectors bidding online increased nearly 55% leading to a 35% increase in the value of successful bids.

The auchtion company explains that the partnership with Invaluable has provided for an advance in its digital strategy with a new enhanced online salesroom with new and more convenient bidding platform features, including private messaging, along with enhanced video streaming.
The video stream has been optimized to support hundreds of thousands of concurrent video attendees without loss of timing or delay. This ensures that all auction participants are able to follow along in real-time, regardless of their location.

Sotheby’s uses Invaluable’s tools as the single online bidding platform to power sales on and Invaluable’s technology manages the bids placed in real-time from online bidders and communicates these to the auctioneer in the salesroom, making it faster and easier for the auctioneer to acknowledge online bids during live sales. The technology also leverages responsive design elements that allow for beautiful and seamless browsing and bidding from mobile devices, in addition to desktop and laptop computers.

© Invaluable.

© Invaluable.

“The technology integrates seamlessly into our web bidding platforms, helping us to grow the e-commerce portion of our business and attract new clients who enjoy the convenience and accessibility that real-time online bidding provides. Over the course of 113 sales, we have seen rapidly-increasing engagement translating into significant growth and new auction records,” David Goodman, Sotheby’s Chief Digital Officer pointed.

The first joint Invaluable-Sotheby’s sale took place on 19th March 2015 in London. Since the launch of the partnership, Invaluable has also enabled online bidding on Sotheby’s sales taking place in New York City, the United Kingdom, Paris, Hong Kong, Doha, Zurich, Milan and Geneva.

Image above the headline.- Sotheby’s logo. © Sotheby’s.