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Worthy Launches Unique Luxury Online Marketplace

NEW YORK, July, 2014 – Worthy (www.worthy.com) has launched a unique and secure, online marketplace for the sale of pre-owned luxury goods to a network of qualified buyers that guarantees multiple bids and the best spot market prices.

For the first time, consumers owning diamonds, branded watches, jewelry and gemstones have a safe and secure way of selling these luxury items through an online auction to a network of committed buyers. Industry analysts estimate the global luxury market at $300 billion dollars annually with the demand for “recycled” or recovered diamonds alone at an annual five million carat or $1.2 to $3.5 billion dollar marketplace opportunity.  Among pre-owned luxury goods, the market for diamonds and gold represents the largest segment by total value, while jewelry and branded watches represent a smaller but significant part of this market.

“We have created a total ‘win-win’ solution for the sellers and buyers of pre-owned luxury goods that addresses the inefficiencies and limitations presented by current marketplace liquidity solutions,” said Ben De-Kalo, founder and CEO of Worthy.  “Pawn shops, traditional jewelry stores, high-end auction houses, like Christie’s or Sotheby’s and online auction sites, such as eBay and eBid don’t pre-qualify their buyers, offer multiple bids or guarantee that items won’t be sold below market value.”

Worthy.com has already begun to attract a following of enthusiastic and highly successful sellers. Just ask Carmen J. from Bloomington, Ind. who received more than $19,000 for her diamond wedding set sold on Worthy. “Worthy was so easy! The auction took place on Thursday, and I accepted the bid on Friday. Worthy wired the money to my bank account that day. It couldn’t have been any easier,” she commented. “Worthy was a win-win for me. I got what I thought my wedding rings were worth and was able to buy a motorcycle for myself. No question about it; I plan to use Worthy again.”

“Carmen’s experience demonstrates Worthy’s unbiased auction platform provides private sellers with the safest and quickest way to auction high-value items to a market of committed buyers and receive the best market value. Worthy provides sellers with many advantages including complete safety from buyer’s fraud, multiple bids from only interested and relevant buyers, and lastly, guaranteed binding offers (‘no regrets’) from buyers,” said Mr. De-Kalo.

How it Works

Worthy has created a selling process that is quick and hassle-free which can be accessed 24/7 from any location through the Internet.  Sellers can simply go online to Worthy.com and submit a description and image of the valuable they wish to sell. Worthy provides the seller with the number of prospective buyers interested in bidding on their item. The seller can then ship their item to Worthy’s secure Texas operations facility using Worthy’s pre-paid and fully insured FedEx-overnight shipping label.

Once the item arrives at Worthy, expert appraisers evaluate, clean and professionally photograph it in preparation for the online auction. At the same time, prospective buyers are sent an alert on the items about to be auctioned. 

The auction gets underway allowing qualified and targeted buyers from around the globe a set period of time (usually 24 hours) to compete for the item.  Upon acceptance of the highest bid by the seller, the payment is processed and funds are transmitted to the seller almost immediately through a choice of secure methods including PayPal, bank transfer or a written check.

What Sellers Are Saying About Worthy

Another first-time Worthy seller is Simona M. of Cochituate, MA, who said, "My experience was great. The staff was professional and did everything as they explained. Arthur was great and followed up with me every step of the way. Initially, I was scared to send my item in the mail to perfect strangers, but thanks to the reviews, I felt okay. I will use them again and recommend them to others. Thanks." 

Aaron P., from Charlotte, N.C., also had a positive experience with Worthy and commented, “Worthy lives up to its name! Not only did they give me a fair price on my item, they also had excellent communication throughout the process. I was scared about sending my item in the mail, as I'm sure a lot of people would be. However, they gave me regular updates as to where my item was and put my mind at ease. I would highly recommend them to my friends without hesitation. In short Worthy is worthy of your trust!”

For more information or to sell an item of your own, please visit www.worthy.com.

About Worthy

Worthy (www.worthy.com) is a unique online and secure marketplace for pre-owned luxury goods including diamonds, brand-named watches, jewelry, gemstones and precious metals. The company has developed an unbiased selling platform providing private sellers with the safest and quickest way to auction high-value items to a market of committed buyers and receive the best market value. By making the process simple and providing guaranteed item descriptions, Worthy makes it easy for pre-approved buyers to enjoy a steady stream of deals suited to their business needs. Worthy is headquartered in New York City with an operations center in Tyler, Texas and a R&D facility in Israel.