Christie's online auction bids rise by 23% - get your mouse at the ready!

Twenty-nine percent of Christie's bidders pledged their money online in 2011, according to new figures released by the auction house.

Big successes for Christie's that year included its pioneering 'online only' auction of Elizabeth Taylor's jewellery collection. The 2,000-strong collection became the most expensive ever auctioned, netting £6.1m.

Christie's main rival Sotheby's has also held 'online only' auctions in the past. The other 'big three' auction house, Bonhams, has yet to follow suit - but it surely won't be long.

 

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Are auction paddles a thing of the past? Online bids are on the rise

The latest Christie's figures are testament to the growing importance of online bidding in the expanding collectibles markets. Christie's alone saw a 23% rise in online bidding in 2011.

Recent large-scale auctions have also seen increasing numbers of online bids from Asia, Russia, India and the Middle East.

Liz Taylor's jewellery collection was a case in point. Fifty-four percent of bidders in the £6.1m auction had never bid with Christie's before.

Watch this space for news on the latest online auctions.


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