PrintXchg is a true BID/ASK marketplace – like a stock market. Like stocks, prints are sold in multiple numbers in an “IPO” (Initial Publishing Offer) and then can be resold. Until now, resale took place at auction houses or through dealers. Now it can happen through PrintXchg!
Category
Art & Entertainment
Location
USA
Engagement
Since 2022
Services
Full Stack Mobile &
Web Development
01
Overview
PrintXchg is a true BID/ASK marketplace - like a stock market. PrintXchg lets collectors offer prints directly to the market via ASKs. Buyers can BID for them or BID for prints not yet offered, hoping to attract a seller. When they cross, the sale happens automatically
PrintXchg receives the print from the seller, verifies the authenticity of the print through certified experts (Like American Association of Appraisers (AAA)/ International Society of Appraisers (ISA)) and ships it to the buyer
02
Business Challenge
- The art market has lacked the transparency, visibility, and equality found in other markets
- Buyers and sellers were always at a knowledge disadvantage
- Auction house commissions were high
- Trading was not on real-time & dis-continuous
- Collections were not catalogued, maintained and tracked
PrintXchg stepped in to fill the above industry gaps and set-up a versatile print exchange platform
03
Business Solution - (Smart Features)
Best Possible Price
Sellers get more, buyers pay less. auction houses and resale sites charge spreads of 35% or more. PrintXchg cuts transaction costs by two-thirds and provides free market data to guide informed trading
Immediate Buying & Selling At Your Price
Traditional auction houses & online auctions are time limited. You have to wait for the auction to end to learn if you bought, sold or failed. You have no control over the final price. PrintXchg is dynamic: buyers & sellers constantly set and reset prices that work for them
Guaranteed Genuine
Every print goes through expert authentication before shipping to the buyer. If it’s not authentic or not in very good condition, it’s returned to the seller and the buyer pays nothing
04
Business Solution - How It Works (Buying & Selling)
- You can make a BID, even for a print that’s not currently offered. You can buy a posted print immediately at the lowest ASK or wait for a lower one
- A seller may lower the ASK or “hit your BID” (Accept). New sellers may post lower ASKs. If a new ASK is posted, you’ll be notified. You can adjust your BID or buy the print at the new ASK
- You can post an ASK for a print you want to sell, sell immediately at the highest BID or wait for a better BID
- New buyers may post a higher BID or existing buyers may raise their BIDs. If a new BID is posted, you’ll be notified so you can adjust your ASK or “hit the BID”
04
Technologies Used
05
Benefits & Value
Guaranteed Market-Place
Guaranteed, transparent & efficient market place makes print collections a truly liquid asset
Low Transaction Costs
Cuts transaction costs by two-thirds for Buyers & sellers (Compared to traditional Auction sites)
Authenticated Prints
Every print is authenticated by experts before shipping to the Buyer
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