
It's not the kind of item you'd normally find on eBay. So if the adage is true that to succeed in business, you have to find a need and fill it, maybe Luxify is on to something.
But for the Hong Kong-based website, catering to the top 1 per cent income bracket doesn't cut it. It's aiming for the top 0.01 per cent.
Luxify deals in new and used luxury goods. With offices also in London and Singapore, it recently announced it had raised US$800,000 in seed funding from undisclosed investors in Asia and Europe. Most of its sellers, however, are in Hong Kong - at least for now.
The site started out in March last year with typical luxury fashion items - handbags, jewellery, fine wine and art. But since then it has come to include sports cars, boats, aircraft and even property. Listings on the homepage this month have included the aforementioned yacht, a 2008 Maserati and a five-bedroom waterfront house.
While most listings have quoted prices, Luxify includes a "make an offer" function so buyers and sellers can haggle. Communication tools, social media integration and a map interface make that kind of negotiating easier.
Luxify provides a useful alternative to pawn shops and auction houses, and it allows private sellers to keep their identities anonymous. For high-net-worth individuals, this can be an important factor.