There are plenty of online platforms to resell mass-market bric-a-brac, but what if you’re trying to offload a piece of art, or a designer item? We spotlight three that can help.
There are plenty of online platforms to resell mass-market bric-a-brac, but what if you’re trying to offload a piece of art, or a designer item? We spotlight three that can help.
We’ve all bought something we regretted – but some mistakes are more expensive than others. For instance, a piece of art you are no longer in love with, or a designer furniture item that was bought on impulse (“It was 70 per cent off!”). You can redeem your mistakes by reselling them but, somehow, it doesn’t seem befitting to flog them at flea markets, or list them on mass-market marketplaces such as Carousell and Craigslist. If you want a good price for your pre-loved treasures, positioning is everything – now, owners of high-value items such as art, collectibles and vintage items have dedicated, easy-to-use online platforms to list them for sale. More importantly, the whole process is professionally managed, providing assurance to both buyers and sellers. Luxglove, for instance, sees itself as a “vetted marketplace” for its six categories of luxury offerings – namely art, design, rare whisky, jewellery, watches and collectibles – says its founder and CEO, Talenia Phua Gajardo. The idea for creating Luxglove stemmed from customer requests that the company received through its other brand, theartling.com, which focuses on primary-market artworks. This gap in the market led to the birth of Luxglove in late 2015. Talenia adds: “We believe in quality being priority. Apart from our determination to select the best items for our buyers, we want to make the selling process as easy as possible for our sellers.” Similarly, Fickle Walls was created as a result of conversations between the founder, Yuen Yee Foong, and her art-collector friends – they had outgrown their art pieces and were looking for a platform that makes art easy to sell, and affordable to own. “For sellers, rehoming their collection helps them clear a wall or storage space,” says Yee Foong.“These works get a new lease of life and can be appreciated all over again. For buyers, they get to own an original art piece at a reasonable price. That’s how art should be enjoyed.” The newest kid on the auction block is Hotlotz, an auction-house business that marries a brick-and-mortar saleroom located in the Lower Delta area with an online platform. Buyers can bid on lots at the saleroom, or online via the website and app – a concept which the founders realised hadn’t existed in Singapore. “We set out to create an auction house for the Uber generation; it’s traditional in (terms of) our knowledge, values and what we sell, but accessible to people who have limited time and want the ease of being able to flick through the catalogue and leave bids on their smartphones,” says Matthew Elton, managing director of Hotlotz. If buyers don’t wish to attend an auction in person, they can key in their maximum bid online or through the app, and the computer will automatically bid for them up to that level. So if you’re a time-starved seller looking to give your pre-loved treasures a new home, or simply looking to score unique quality items, consider these prime platforms.
FICKLE WALLS
Launched
April 2016.
What you can find
Pre-loved paintings. The current collection is centred on paintings by South-east Asian artists such as Tung Yue Nang (Singapore), and Kong Weiming (China). Sculptures and photography may be added in future.
Why it’s different
Unlike other online art platforms, it focuses purely on low- to mid-priced pre-loved original art not exceeding $5,000 in value.
Top pick
Limited-edition works of art.
Price range
From $190 to $4,500.
Commission
It receives a 10 per cent commission of the sale price from sellers, or 20 per cent for concierge service. There’s no charge if the piece doesn’t sell.
HOTLOTZ
Launched March 2016.
What you can find
Good quality pre-loved items for home decoration, comprising mostly antique furniture and vintage items, such as tableware, consigned from European and local clients; as well as contemporary art pieces.
Why it’s different
There are monthly Valuation Evenings in its saleroom where potential sellers can drop in with their treasured items for an instant, free-of-charge appraisal, and a complimentary glass of wine. Hotlotz also sources for items overseas, and consigns them for auction here.
Top pick
Victorian jelly moulds, vintage French champagne buckets from the 1950s, and beautiful 18th-century framed drawings of tropical birds.
Price range
From $400 to $1,200.
Commission
The seller’s commission is 19.5 per cent of the “hammer price” (included in the hammer price); there’s no charge if the item doesn’t sell. The buyer’s premium is 19.5 per cent of the hammer price (added to the hammer price).
LUXGLOVE
Launched
Late 2015.
What you can find
Art, design, rare whisky, jewellery, watches and collectibles.
Why it’s different
Luxglove allows buyers to negotiate with sellers via its “offer feature”. Customers are encouraged to negotiate.
Top pick
A 1961 Ferrari 250 GTE.
Price range
From $100 to just under $1 million for the vintage Ferrari. The average price is $8,000.
Commission
Varies depending on the category and price of items. For example, for the categories of art, design, collectibles, jewellery and whisky, the commission rate is 15 per cent for items up to $100,000; beyond that, it’s 8 per cent.
