Auctioneer Sotheby’s and Amazon.com have restructured their arrangement to sell authenticated and guaranteed arts and antiques. As a result, Amazon has turned over the operations of its sothebys.amazon.com web site to Sothebys.com. The two online auction sites will now be combined into one site that will carry the Sothebys name.
The arrangement represents new terms of a relationship that began in June 1999. Amazon’s site that carried the valuable Sothebys name was launched in November last year.
“It has become clearer than ever before that what matters in this business is scale,” said Craig Moffett, president of Sothebys.com. “By combining our two sites, we can now offer our customers a much deeper selection in a single venue; and our network of 5,000 Associates will now have a clearer and simpler way to conduct business online.”
The new agreement includes a marketing component in which Amazon will redirect traffic to Sothebys.com through cross-promotional onsite advertising, according to Patty Fox, Sothebys spokeswoman. As part of the multi-year marketing agreement, Amazon.com will receive annual cash payments. Both companies declined to be specific.
Sothebys.com will be Amazon.com’s exclusive online auction aggregator for authenticated fine arts, antiques and collectibles. In addition to site placement, Amazon.com will promote SOTHEBYS.COM to its customers through marketing campaigns.
The joining of the two sites is expected to take place during the next 30 days.