Press Release

In March, 1792, twenty-four of New York City’s leading merchants met secretly to discuss ways to bring order to the securities business and wrest it from their competitors, the auctioneers. On May 17, 1792, these merchants signed a document called the Buttonwood Agreement. It was named after their traditional meeting place – a buttonwood tree.
Two hundred years later, a company called eBay further challenged the auctioneers by creating a novel way for bidders to acquire items via the computer, rather than through auction attendance. By 2006, this new bidding platform has become a billion dollar business with over 75 million customers.

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Posted: 01|28|06 at 4:51 pm. Filed under: Auction News.