First time online nets a bonanza for West Coast antique and fine art auctioneer John Moran

Feb. 18, 2004

On Feb. 17, Altadena , Calif. auctioneer John Moran took a decisive step forward by introducing LiveAuctioneers as a new bidding option in his sales. A distinguished company with an excellent following, Moran's has never had a problem filling the house. At this particular sale featuring 262 lots of fine art, all 600 chairs were occupied. By the end of the auction, however, there could be no questioning the impact a global audience participating live online had rendered to the sale's total.

Better than anything, the numbers tell the story. Thirty lots sold to Internet bidders, adding $93,350 to the auction's bottom line. A full 11% of the inventory went to online participants, with the average selling price of an artwork sold through that method being $3,112. Clearly, these statistics reinforce what is being recognized as a trend worldwide: that discriminating buyers will purchase fine art online.

Skeptics who had doubted art aficionados would embrace Internet auctions as a trustworthy way in which to buy top-quality artworks were quieted after seeing the results of Freeman's Dec. 7 auction of Fine Paintings & Sculptures, in which a Fern Isabel Coppedge (American 1888-1951) oil on canvas titled Near New Hope sold online for a staggering $70,500. Freeman's VP Marketing David Donaldson reported after the sale that 280 bidders had taken part online through LiveAuctioneers, with total Internet sales topping $300,000 – the most ever at a Freeman's auction.

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