A new startup aims to make eBay a safer place to shop for high-end designer goods without fear of counterfeits. Colinsworth Authentication utilizes a network of experts to authenticate expensive designer watches, jewelry and handbags for eBay buyers. The service acts somewhat like an escrow service, but goes one step further by examining and authenticating the item before forwarding it to the buyer. (The company is the process of looking into escrow licensing requirements in various states.)
Colinsworth Authentication founder and CEO Colin Dreizin said, "By engaging our expert authenticators before the online sale is completed, buyers are guaranteed of purchasing legitimate luxury items, and sellers are assured that prices for their luxury items aren't driven down by their proximity to fakes."
Sellers who sign up for the service send listings to Colinsworth.com, which launches them to eBay using its own User ID. Colinsworth hopes the guarantee it offers shoppers will boost selling prices, and it protects sellers from chargebacks and fraud - since Colinsworth receives payment directly from the buyer, it absorbs the chargeback in the event of a refusal to pay.
Sellers in the watches and jewelry category pay Collinsworth $75.00 + 9.60% of the sale price on items under $10,000, and 9.60% of the sale price on items over $10,000. Sellers of handbags pay Collinsworth $60.00 + 6.20% of the sale price on items under $10,000, and 6.20% of the sale price on items over $10,000.
Dreizin is wrapping up his MBA degree in a month and will then work fulltime on the site and hire additional staff. He plans to launch a more full-featured site in 3 to 6 months. The company is currently privately owned and financed, and is in the process of finalizing partnerships with experts in other merchandise beyond jewelry, watches and handbags.
http://www.colinsworth.com
