The RealReal: Luxury Consignment Online

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Nov. 8 (Bloomberg) -- The RealReal CEO Julie Wainwright discusses online luxury consignment with Stephanie Ruhle on Bloomberg Television's "Market Makers." (Source: Bloomberg)

High-end consignment to the web.

Tell us about your latest venture.

It is luxury consignment that is vetted and authenticated.

We offer things from women's fashion, men's fashion, high-end watches to things like art here it we just introduced art.

We have experts that vet, curate , and authenticate every item.

Think of us as taking the top and off of ebay, the bottom half of sotheby's and christie's, with expertise and online only.

Who do you compete with?

You compete directly with ebay?

We don't have a direct competition.

Ebay has certainly showed that you can sell quite a few things online.

The difference between ebay and us is that it is always buyer beware.

With us, we always authenticate.

We do have a gem i'll adjust -- gemologists and authenticators on staff.

We created a new form of distribution for luxury items for the consumer and also for the consignor.


it sounds like there is a real difference there.

But the fact that even a dash ebay does not have to curate and operate and have people involved in the consignment process like you do does not mean that they operate at higher margins.

I would say that they take a percent of sales and we have a percent of sales and ours is higher.

When people decide to consign with us, we send someone to your home.

In major cities, we have someone in every major market -- a team of people in major markets to go through your items, decide on the value.

We can remove it.

We take the picture.

We pack and ship.

From a seller standpoint, we are easier.

You can make up to 70% of the selling price with us.

From the buyer perspective, we also take returns if things don't fit and we stand behind the product.

Who gets paid what?

What is the breakdown?

If i'm the person who has the close or the art, what percentage do i get?

What is the specialist get?

What do you take?

You can make up to 70% of the selling price as a consignor.

Once you hit $5,000 in sales, you then make 70%. before that you make 60%. ok.

Talk to us about -- you said you had somebody in every major market in america.

How quickly as this growing?

Last year, we were approximately about $12 billion in sales.

This year we are going to be between $50 million and $60 million.

We are on a fast growth.

We are bringing in and selling through over 35,000 units per month.

That is before we added art.

This text has been automatically generated. It may not be 100% accurate.


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