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Web & Mobile App Catering to Private Sellers of Luxury Items – Van Goghs, Yachts, Vintage Cars, Luxury Watches & Antiques – Proprietary Tech Stack

Sold
Asking Price $60,000,000
Gross Income $127,000,000
Cash Flow $23,157,000
Year Established 2021

ValleyBiggs® presents a private, seamless service for buying and selling art, watches, jewelry, automobiles, boats, and other luxury items. The company appeals to affluent clientele who value privacy and confidentiality. Unlike other sites, this one only accepts certain luxury items with a minimum price of $1,000.

To provide the utmost security and authenticity, the buyer and seller identities are verified, including the necessity of a PayPal account corroborated with a bank account. However, no personal information is provided to other parties. Instead, they are referred to only by a randomly generated user ID.

The business differentiates itself by charging a low seller commission and buyer premium. Additional income is earned on shipping, handling, and special services. Payment is promptly wired to the seller, and the sold item is shipped to the buyer via a secured, insured express carrier. This business saves both parties exorbitant fees and time.

Revenue is obtained from four sources:

  1. Sales Commissions. The company charges a 6% seller commission and a 6% buyer premium on the gross sales price.  The seller also pays fess for insurance, storage, preparation, and other services that are standard in the industry.
  2. Concierge Services. The concierge facilitates the sale, secures the escrow funds, pays the expenses related to the deal, wires funds to the seller, and ships the item to the buyer. Additionally, the concierge hires and expert to prepare a report for the buyer on the item’s identification, description, condition, authentication and value. The buyer is charged for the Concierge Report, shipping and handling, and any other services requested. These fees are paid in advance with the escrow funds.
  3. Advertising Revenue. Management anticipates advertising revenue from luxury brands that want to cater to this affluent clientele, such as The Ritz Carlton®, Rolex® and Louis Vuitton®.
  4. Interest. The interest earned on escrow funds are paid to the business.

 

The company has a highly experienced management team with a track record of success. They grew a prior business to $50 million in sales and had a presence in more than 4,000 retail stores. They are well qualified to execute this model.

The direct domain name is one-of-a-kind, registered, and trademarked. All software and applications are copyrighted, and the vanity contact number includes the company name. The App is now available on the Apple Store® and Google Play®.

This business model will likely experience no seasonality in sales. People need capital for unexpected, unplanned emergencies, changes in circumstances, and life situations such as divorce, death, change in employment, and relocation.

The company provides its clients with the following three specialized services:

  • Concierge Premier Service. It’s the crown jewel because it facilitates transactions and communication between buyers and sellers. This maintains anonymity, authenticity, and prompt payment through the secure site. Buyers purchase a ‘Concierge Report’ prepared by an expert that details the item’s information, condition, and value so the buyer can make an informed purchase. A personal Concierge is assigned to each sale, so the seller and buyer never communicate directly. The Concierge will communicate offers, information requests, answers to questions, and correspondence between both parties. In summary, after the parties agree on the price and terms, the concierge will:
    • Receive the bank wire for the purchase and fees held in escrow.
    • Receive the physical item from the seller unless other arrangements were agreed upon with the buyer and seller.
    • Prepare an assessment report on the item’s authenticity, value, and condition for the buyer.
    • Finalize the sale upon final approval from the buyer and seller.
    • Issue payment to the seller and ship the item to the buyer via an insured, secured carrier.
    • Authentication Guarantee+. Items are authenticated by experts that are bonded and insured. If a sold article differs from what is described, the company will refund the purchase price plus 10% of its value.
    • Price Protection+. The business pledges that if the identical item is found cheaper elsewhere, it will refund the price difference plus 10%.

Once the company is funded, an experienced social media team will be engaged to support all marketing and promotional campaigns. A prominent New York public relations firm has already been engaged. A pre-launch media campaign has been started with over 80 media outlets picking up the press release and photos. As a result, the website is listed #1 on Google®.

This online resale sector (“reCommerce”) is one of the hottest and has been incredibly active for IPOs. Furthermore, the management team is highly proficient and has tremendous scale prospects in mind with a clear roadmap. Subsequently, a buyer or investor stands to make a swift and immense return on investment.

This Company is Represented by:

ValleyBiggs.com

Tech, Internet & eCommerce Business Brokers

WC 2982

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