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How eBay and Sotheby's Will Mutually Benefit From a Partnership

Keris Alison Lahiff
7/14/14 12:51 PM EDT
eBay and auction house Sotheby’s have cemented a deal to stream auction sales worldwide. eBay could begin streaming New York public auctions as early as fall, with the potential to later add exclusive online-only sales and broadcast's from additional Sotheby’s hubs including Hong Kong, London and Paris. The benefits for both companies are clear: Sotheby's would gain access to eBay's 145-million-strong customer base, while eBay could trade on Sotheby's air of authenticity, lending credibility to high-end, expensive purchases made through the site. Shares of Sotheby's are higher on the news, while eBay has slipped slightly. TheStreet's Keris Lahiff reports from New York.
Stock quotes in this video: EBAY, BID

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