First, we thank all of you for your continued patronage, support and seemingly endless
stream of merchandise over the past 3 1/2 years since formally launching LuxeSwap. You
have kept us exceedingly busy working with your wares and we are grateful for the
opportunity to continue to serve. We hope the fine goods we’ve delivered to you and the
money we’ve made for you make you feel the same way.
I could not have imagined such success when those few years ago I walked on that
beach, took a deep breath and hoped that a few of you would decide to consign. We have
since expanded from less than 50 weekly auctions to consistently over 220 auctions per
week and, while the supply of goods thankfully remains never ending, we have been
unfortunately fortunate to realize every entrepreneur’s dream of demand exceeding our
…but that’s about to change.
It has been clear for some time that we have so much more potential than what’s visible
— more merchandise to sell, a growing list of clientele numbering in the thousands and
a seemingly endless stream of new consignors from all over the globe. In order to grow
the business further and better service our clients we are pleased to announce to you
today a few changes to LuxeSwap as you know it.
First, we will shortly be offering buy-it-now and best offers as options for selected merchandise.
While the auction format offers many benefits - a finite time period that creates
demand and a bidding war that hopefully results in a strong sales price, there are also
occasions when items demand achievement of a certain price. Based on current eBay
pricing structures we can also offer a lower final value fee to all of our clients by offering
an eBay store with instant purchase options, which means more money in your pocket.
We are now happy to offer this service as an option for consignors who have appropriate
pieces they would like to sell and achieve a minimum price.
For example, say you have a Loro Piana leather piece that you reasonably want $1500 for? We will be able
to set the buy-it-now/best offer at $2000 and wait for the right person to get it. However, if at any time
you decide the time is right to move that piece to auction at $9.99 with no reserve, that’s just a click
of the button away. We are excited to enter "new" eBay territory after many years
exclusively on auction format and hope to see your best. I except this change to be rolled
out officially in Q1 2016.
Second, as most of you know, I work tirelessly day and night doing all of the creative
content for the auctions myself. I am responsible for all of the photos, descriptions, data
entry and post-sale collateral, e.g., client communication, shipping labels, etc. My talented wife is
our CFO and handles all financial responsibilities for the business — paying consignors,
invoicing, packing and shipping, etc. We also have a fantastic employee, Fallon, who measures
each and every item that each of you sends in (except ties, which I do personally).
Predictably, our fortunate increase of business has rendered this structure insufficient.
So with great pleasure I’d like to introduce to you the newest member of the LuxeSwap
family, who many of you already know. As of today, Zach @RedDevil10 here on
StyleForum) joins us, most recently from The Armoury New York, and previous to that a
career in law, as LuxeSwap’s Director of eCommerce. Zach will be assuming responsibility
for the majority of the creative content that continues to make LuxeSwap a growing force in the
luxury online consignment space. He will also be an increased presence in our social
media, e.g., Instagram, Tumblr, and of course here on StyleForum. Zach's photography
is gorgeous to say the least and will only serve to better our hammer prices, increase our following
on social media, and create a new standard in our signature appearance. His work can be found on his Tumblr and also his Instagram. If you don't already follow him there, I hope you start doing so!
Please join me in welcoming him to his new role here at LuxeSwap!
Last, but certainly not least, it is with great pleasure to announce that we will be opening the first
LuxeSwap boutique in the Spring of 2016 here in Long Island, NY. We have secured a 1500 square foot
space that will soon become a physical manifestation to the world of unique merchandise we currently
represent digitally. We hope to have the doors open to the public by Q2 2016. The store
will serve first as a place for anyone in the area to come meet, talk and, of course, shop
the world of LuxeSwap. We will have on display all of my merchandise as well as client
consignments. It will also be our home base for operations, in which we are making a
significant investment to, among other things, support increased volume and quality in
our weekly content creation and online sales processes, resulting in even better overall
sales performance for our consignors. The store will also provide a space for events
(can't wait for that first Ferrari collabo!) that we plan on hosting as well.
Accordingly, once the store is open we can also offer an in-store only sales option at a
reduced commission rate to our consignors, in addition to the eBay commerce options.
Options beyond in-store and eBay commerce are also on the horizon, so stay tuned over
the next year. Thinking further down the road, if all goes to plan 2016 will also hopefully bring a
LuxeSwap tour of the United States, allowing us to host meet-and-greets and
consignment drives at events across the country. We would love to get to Miami, Los
Angeles, San Francisco, Chicago and a few other cities where we have large
concentrations of clients — fingers crossed!
So, as you can see, this is a very exciting but very busy time for us! Over the next few
months we will be setting this all up and getting it ready to run in the new year. And me,
you ask? Well, with most of the day to day operations handled, I’ll be free to do what I
really do best, which is interact with all of you, to further develop and grow our existing
consignors, and to really get out there in the field and find the best possible merchandise.
I’m looking forward to dedicating my time to do what I do best - scouring the country to find the
best consignors, the best merchandise, the world’s finest luxury goods and ultimately,
to bring them all to you with the LuxeSwap group.
That’s the plan for now and we will of course keep you updated with our progress. Thank
you all again for your continued support and patronage. It’s a damn good time to be with