While Sotheby’s and Christie’s make deals to enter the Internet auction arena, eBay, one of the fastest growing companies on the Internet, has acquired the 134-year-old Butterfield & Butterfield Auctioneers Corp. In a $260 million stock deal, Butterfield agreed to the eBay takeover.

eBay’s revenues have been extraordinary with a growth of ten times from the first quarter of 1998 to the same quarter of this year. The Company reported first quarter net income for 1999 of $5.9 million. Butterfield, on the other hand, achieved $20 million in revenue last year with a net income of $1.5 million.

Christie’s next major sale, Fine Jewels, June 10, will include a diamond and sapphire ring (estimated price $70,000 – $90,000) and a diamond double clip brooch (estimated price $25,000 – $30,000).

Sotheby’s Antique and Period Jewelry sale is set for June 9 and will include a wide array of Art Nouveau diamond jewelry. Among other pieces offered are a platinum and diamond bracelet (estimated price $75,000-$100,000) and a platinum sapphire and diamond bracelet (estimated $25,000-$30,000).

Phillips International Auctioneers & Valuers and William Doyle Galleries will be presenting several quite important pieces at upcoming sales.

Doyle’s Provident Loan Society Sale takes place June 9 and 10, with the preceding exhibition running from June 5 through 8.