There's a new marketplace open for collectors and here's hoping they can live up to their Lofty expectations! 

Lofty advertises itself as "The Trusted Marketplace", dealing with fine art, antiques, jewelry and like. But with one caveat -- the values/prices of such pieces starts at $500. And they guarantee a customers satisfaction.

Lofty is pleased to offer you fine art, antiques and collectibles from collectors around the world. We believe buying art and antiques should come with complete piece of mind. To that end, our Expert Advisors review and evaluate every item on Lofty. Building sustainable, trusting relationships with clients is our top priority. We offer a 7-day Money Back Guarantee and a 5-year Authenticity Guarantee.

The five-year guarantee is an interesting twist to the Internet marketplaces, although well-known, established auction houses will stand by their authentications, it's not widely done by Internet sales venues.

Lofty offers several methods of purchasing, an instant buy and two auction formats. Their virtual, live auction events are are held through a third party, such as LiveAuctioneers. 

Buying on Lofty

As a would-be buyer, there are several things that I really like about the company. Especially the guarantees given to a buyer. The company stands by what they sell, if it's different than advertised they will refund the monies, plus the return shipping is free within seven days of purchase. If the authentication is proven to be wrong within five years of purchase, 100% of the purchase price is returned. Of course there are Terms and Conditions that apply, but after a cursory glance, I like what I see.

Items for sale are varied and in the $400 and up price range. Everything from Prada and Louis Vuitton  handbags, jewelry, rugs, furniture, fine arts/paintings and decorative arts.

A 15% Buyers Premium is charged.

Selling on Lofty

Sellers have the chance to get a free appraisal of items that they are interested in listing for sale on Lofty. Up to three items can be submitted for the appraisals by their team of Experts which includes professional appraisers, dealers, and  auction house specialists. Although the company does not provide evaluations for items under $500, since it's a free service would-be sellers can always submit items and if the values are under the limit Lofty will advise sellers that it won't be evaluated.

Lofty suggests a price that they would be a fair market price in today's market. They base this on similar items sold, but also on the experience of their experts and appraisers. 

After an item has been appraised and satisfies both the seller and the Lofty guidelines, item will be listed for sale. There are three ways that a seller can choose to participate, through the fixed-price marketplace, in a live virtual auction event or in a rolling auction. 

A 10% Sellers Premium is charged.

Shipping

Now this is the best part for me!

From Lofty: Lofty coordinates all shipping for sellers when the items are sold.  We find a local courier/shipper, get a price quote, and arrange for the item to be packed and shipped per our specifications.  The buyer pays for the shipping and we handle all logistics, making the process really seamless and simple for sellers.

Bottom Line

I looked at Lofty from a personal point of view, as both a would-be seller and buyer. I have several items that would definitely qualify to be listed. These are items I've actually thought about selling in the past, but wasn't sure what the best marketplace would be. I really think Lofty just might be the answer for several things I have, not all of course, but for those more pricey pieces that i don't want to put on eBay or through a Craigslist ad.

As a buyer, there were definitely a few unusual items that I would love to have. Just have to decide where they would fit in before hitting that buy button!

From CEO and Founder Mark Lurie:

Lofty is best-suited for sellers who want a more premium venue for their items than eBay, but not quite the level of Sotheby's, Christie's or other major auction house.  Items between $500 and $50,000 are our focus.