Sotheby’s Acquires Viyet, the Online Marketplace for Interior Design
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With the recent acquisition of Viyet, the online marketplace for interior design, Sotheby’s expands its market for vintage and antique furniture, decorative objects, and accessories.There has been a tremendous increase in the numbeSotheby’s Acquires Viyet, the Online Marketplace for Interior Design
With the recent acquisition of Viyet, the online marketplace for interior design, Sotheby’s expands its market for vintage and antique furniture, decorative objects, and accessories.There has been a tremendous increase in the number of cleints choosing to engage with Sotheby’s online. In 2017, Sotheby’s staged 36 successful online-only auctions with online buyers spending more than $180 million. Viyet’s business model complements Sotheby’s existing suite of services across a number of categories, platforms, and price points. With Viyet onboard, buyers and sellers can transact immediately, instead of waiting for an upcoming auction. Sotheby’s will now have a low-touch model to handle more moderately-priced items. Viyet generally lists items priced at $5,000 and below, and some have sold for as much as $100,000. Sotheby’s will provide an influx of vintage and antique material within that value range from its vast sourcing network. Sotheby’s plans to focus Viyet’s offering on these popular categories and simultaneously raise their average selling price.Tad Smith, Sotheby’s CEO, said: “Sotheby’s has centuries of experience and tremendous expertise, and Viyet is a digitally-native brand that knows how to leverage technology to serve today’s consumers. Together we share a passion for client service at the highest level. We are delighted to have Elizabeth and her team on board and look forward to broadening the range of property we handle as well as expanding the services we can offer to existing and new clients.” Click on the slideshow for a sneak peek at the works that are currently for sale on Viyet. Read more