The New York Times announced Gucci has joined with Christie's to help combat fraud which has proliferated on eBay and will introduce a website for vintage Gucci goods that will be authenticated for buyer safety.
Both Christie's auctions and Gucci are owned by François Pinault, the French tycoon whose fortune is estimated at about $17 billion. To be known as the Gucci Collector Site, presented by Christie's, the new site, will "authenticate Gucci items and also include an online auction section."
Both Christie's auctions and Gucci are owned by François Pinault, the French tycoon whose fortune is estimated at about $17 billion. To be known as the Gucci Collector Site, presented by Christie's, the new site, will "authenticate Gucci items and also include an online auction section."
According to the New York Times, the online business will provide a trusted venue for transactions of vintage Gucci items, thereby avoiding recourse to uncontrolled auction sites such as eBay, said Patrizio di Marco, chief executive of Gucci.
The site, scheduled to be up and running by the end of the year, will include a dedicated section on www.christies.com where those seeking appraisals will be able to upload images of Gucci objects for examination.
If deemed a success, is the Gucci Collectors Site, presented by Christie's a test for possible expansion of additional categories currently sold by the auction firm?
After all, Christie's, unlike its competitor, Sotheby's, auctions more lesser priced lots of jewelry, furniture, art, silver, carpets, antiques, etc., with its Christie's Interior Sales.
According to Christie's, with lower price points and an ever-changing repertoire of fine and decorative art, these sales truly boast something to suit every individual’s taste. Property offered in these sales is thoroughly researched by our experienced global team of specialists to ensure the utmost attention to quality and authenticity for which Christie’s auctions are known."
If Christie's decided to expand the Gucci Collector Site, presented by Christie's, there would also be an overhead reduction by eliminating catalogues, exhibitions, etc. Christie's knows that to be successful, online auction material must be guaranteed authentic and vetted by an "expert", currently lacking at eBay, as rampant fraud and counterfeits exist 24/7.
In 2007, we wrote eBay Could Reduce Fraud by Hiring Experts as a way for eBay to curtail counterfeit/frauds. However, we concluded eBay Management prefers generating listing revenue over meaningful consumer fraud protection.
Patricia Frost, Christie's Fashion Director, who has been with the firm since 1986, will administer the new site. Ms. Frost will work with an in-house Gucci archivist in Florence to evaluate items for potential sale at auction.
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Delegating authority to someone who will have the authority to immediately remove lots, is a sharp contrast to the "complacency" favored by original eBay management, Meg Whitman and later Bill Cobb. The Christie's/Gucci business model is reminiscent of the conditions of sale required by sothebys.com auction site, launched over a decade ago.
Sothebys.com was an auction site which obtained its material from licensed charter Sothebys.com sellers who offered collectibles for sale. Various licensed charter sellers were recruited, each experts in their respective categories; i.e., fine art, antiques, jewelry, books, etc.
As a requirement, all Sothebys.com charter sellers had to "provide a guarantee of authenticity and condition of all property they sold", a stipulation not required by eBay.
To be clear, sellers of books on Sothebys.com were only authorized to sell collectible books, not diamond rings, art, etc. By comparison, on eBay, anyone can list anything and just about anywhere.
For instance, eBay has even an "art dealer category" for those listing fine art listing, and logic would say, you will not be approved if you are not a "professional art dealer"; however, there is no such requirement.
Sadly, eBay has not implemented any procedures to eliminate fraud, prevalent 24/7.
Should you see fraud on the eBay site, good luck getting it removed.
No one has any power to do much; the rules change so fast, that even the customer service reps are handicapped as they cannot do anything unless it is in the handbook.
Nothing is ever done about a fraudulent eBay seller until significant numbers of consumers are defrauded In fact, it was not until 2009 that eBay refunded a purchase over $500, should fraud be proven, and in order to qualify, the buyer was forced to use PayPal, nothing else.
eBay counterfeits are so pervasive, we wrote a 2007 Blog Article in The Fine Art Blog titled
That will not happen at the new Christie's Presents Gucci Collector Site.
Gucci Collector provides free auction estimates.
Gucci Top Picks by Christie's.
Gucci Collector provides free auction estimates.
Gucci Top Picks by Christie's.
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