Trade Me moving into art auctions

1.00pm

Online auction firm Trade Me said today it had formed a partnership with Auckland-based International Art Centre (IAC) to sell fine art online.

Trade Me said it would host over 50,000 art auctions in 2004.

The partnership would allows IAC customers the option of bidding virtually rather than having to attend traditional auctions.

Trade Me claims 450,000 regular customers.

"Art is one of our fastest growing categories so it made sense to partner with an established fine art specialist," said Trade Me general manager Sam Morgan.

"In the last week alone we ran over 1200 art auctions online. This new development should further increase the ability of small manufacturing artists to access a national and international client base."

IAC sees the move as something that complements its more established business.

"We recognise that being online serves an important niche in our market," IAC's Richard Thomson said.

IAC would continue traditional auctions.

- NZPA