Sotheby's gets wired

Famed auction house Sotheby's will launch an Internet auction house for jewellery, art and antiques, the company said today.

The company plans to spend at least $25 m (£15) developing the site. Susan Solomon, former president and CEO of Sony Worldwide Networks, will become CEO of sotheby' and executive vice president at Sotheby's Holdings. The auctioneer plans to host a baseball memorabilia auction online and off-line this summer.