Sotheby’s has revealed the positive effects that its embrace of social media and digital technology has had on both sales and client attraction.In 2016 the auction house launched apps for iPhone, iPad, Android, Apple TV, Amazon Fire, Samsung Smart TV, and launched its first original web series, “Treasures from Chatsworth.”According to Sotheby’s its online buyers spent $155 million in 2016 – up nearly 20% from 2015. A total of 19% of all lots sold at Sotheby’s in 2016 were purchased online.Online bidders contributed significantly to the auction house attracting a record number of new clients overall in 2016, with 52% of all online bidders new to Sotheby’s.One of Sotheby’s most successful sales of the year, the Bowie/Collector sale, which took place in November in London and totaled $41.1 million, saw 62% of bidders participate online, 71% of whom were new bidders.Sotheby’s also set a new record for an online purchase in a live auction at Sotheby’s when it sold a pair of diamond earrings for $6 million to an online bidders during its May 17 sale of Magnificent Jewels and Noble Jewels in Geneva.“Embracing technology more effectively, both internally and through client-facing products, has been at the heart of our strategy over the past 18 months and our results speak for themselves,” said Sotheby’s CEO Tad Smith.“We look forward to 2017 and continuing to deliver the best service in the industry and results for our clients and shareholders,” Smith added.
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