government auctions | A very select auction site opens to billionaires

A very select auction site opens to billionaires


BillionaireXchange said it has already sold more than $ 180 million worth of goods during the ten months of its test phase.


Thanks to a dedicated website, billionaires indebted and hit by the recession, will finally be able to sell yachts, luxury cars and other jewels without having recourse to a pawnshop. Billionaire Exchange, which officially opened Monday in the United States, said it has already sold over $ 180 million worth of goods during the ten months of its test phase.
The group observes in its US customers that the majority of transactions are intended primarily to settle significant debts.
"Because of the current economic situation in the United States, we see many people who actually need to sell or trade some of their luxury items, quietly and privately, so as not to feel shame. or embarrassment during the transaction, "told Reuters agency Quintin Thompson, co-founder of the site.

BillionaireXchange intends to exploit this new niche, between auction sites like eBay open to all audiences and auction houses such as Sotheby's and Christie's specializing in works of art and collections. He also puts forward his business model fully online to differentiate itself from major auction houses. The Billionaire sales site connects sellers and buyers on objects ranging from art, antiques, real estate and commercial takeovers. Site members must have a minimum net revenue of $ 2 million, while the site will charge a 5% commission on sales.