Is Obama administration pay czar Kenneth Feinberg
crimping your lifestyle? Thinking of hawking your wife's Harry Winston diamonds or an old Porsche Carerra GT supercar to make ends meet but don't know where to go to sell? Well, you need the BillionaireExchange, an alternative to eBay for the wealthy.
Reuters ran a story about a 10-month-old Miami-based Web startup intended to offer a marketplace for high-net-worth individuals to sell items that probably do not have a place (or buyers) on eBay or aren't upscale enough to warrant a Christie's or Sotheby's listing. The company says it has already helped sell some $180 million in assets during a 10-month test phase, and it would have made $8.75 million in revenue had it not waived its 5% sales fee during the trials. So far, the company claims to have signed up 26,000 people who each have a net worth of over $2 million, including A-list actors and professional athletes.
Too bad for retired ball player Lenny Dykstra. Had old Nails known about BillionaireExchange, maybe he wouldn't have had to
hawk his memorabilia to a pawn shop. -
Matthew Wurtzel
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I like the new auction sites that I have seen lately and this sounds like a very good exchange site for a niche that is missing from eBay.