billionaire xchange

BillionaireXchange, an eBay for the Mega Rich

A new internet auction site aimed at the rich and famous had recently launched. BillionaireXchange has said that it has played a role in the sale or exchange of more than $180 million in assets during its 10-month test phase. The site hopes to capitalize on the current trend in which people need to divest themselves of some of their luxury items. The site allows those who need to sell their items to do so privately. The site seeks be a midway point between sites open to the general public like eBay and fine auction houses such as Sotheby's and Christie's for fine art and collectibles. BillionaireXchange says they sell everything from art and antiques to yachts, homes and even businesses. The site is membership only and requires a minimum of $2 million in verifiable net worth to join and bid on items. The site also offers escrow services to protect buyers and sellers.

Sellers are charged a fee of five percent of the sales. Quintin Thompson, co-founder and executive partner of the site told Reuters that the firms clients including professional athletes and actors and already has more than 25,000 millionaires among its members. Of course the first place I clicked was the celebrity listings category and I saw a few old friends, the Coral Gables, Florida mansion that Alex Rodriguez has been trying to unload for over a year and Dwayne Wade's slow seller in Pinecrest, Florida (shown above) are both on the site.

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