After announcing earlier this year that it was investing nearly $25 million to expand its online presence, Christie's International, the New York City-based auctioneer, has scrapped its plans for a Web site to sell art, antiques and collectibles. The decision came after a recent meeting of top management who considered the cost, legal liabilities and the difficulty of generating profits on high-volume, lower-value items.
Christie's, said to be the world's largest auctioneer, is walking away from an online playing field that includes eBay.com, Yahoo! Auctions, Amazon.com (cobranded with Sotheby's), eHammer.com and icollector.com.
Back...
