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Christie's, the world's leading auction house based out of London, is about to embrace the world wide web and start real-time, multi-media auctions on the Internet through Christie's LIVE. Christie's web auctions will be unique as they would allow for the first time real-time audio and video from the sale room, and of course the ability to bid by mouse clicks, as the press release said.
While Sotheby's, Christie's main rival, as well as a few other auction houses have chosen to outsouce Internet bidding through eBay or Live Auctioneers (which in turn works with eBay), Christie's resisted for fear of diluting its brand name and has instead teamed up with Auction Management Solution from Tampa, Florida to develop the technology that would allow real-time sales room access.
Christie's was founded in 1766 and has a name in the fine arts auctions, however, most Internet auctions at first will be of collectible items estimated under $1,000.
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