Amazon, Sotheby's To Shut Web Site
Oct. 11, 2000
NEW YORK (AP) _ Auction house Sotheby's Holdings Inc. and retailer Amazon.com Inc. plan to shut down in the next 30 days their jointly operated Web site, Sothebys.Amazon.com, which sells paintings, antiques and other collectibles.
Visitors to that Internet address will be re-directed to Sothebys.com, which will be a featured link on Amazon's site, the companies announced Tuesday.
``It has become clearer than ever before that what matters in this business is scale,'' said Craig Mofett, president of Sothebys.com, in a statement. ``By combining our two sites, we can now offer our customers a much deeper selection in a single venue.''
As part of the deal, Sotheby's will pay Amazon annual cash payments to promote Sothebys.com through marketing campaigns.
Amazon and Sotheby's launched their joint site last November.