Just recently, Worthpoint passed two major milestones that should be of note to antique geeks. It topped over 50 million items in it's Worthopedia and has made the Quantcast 1000 list. I caught up with Will Seippel the CEO of Worthpoint to ask him some questions about the progress there.
The Q&A below is the result of that conversation.
Q: You've just topped 50 million items in your Worthopedia, a sort of online price guide for antiques and collectibles. Where do the prices come from and what do they mean?
A: WorthPoint aggregates transaction data from eBay and 50 of the world’s leading auction houses. The information provides the realized prices of items at auction – thereby indicating a precise measure of market value for any given item and similar items. So for example, if you search on “royal Vienna vase” you will see multiple item matches with corresponding prices.
Q: What does making the Quantcast 1000 list mean for the auction houses that work with WorthPoint?
A: The Quancast 1000 is a great indicator of our qualified traffic growth. The more people that come to WorthPoint in order to research items, the more likely they are to find something associated with an auction house partner. So basically our traffic growth = greater visibility for auction houses and therefore more sales for them.
Q: What are the Worthpoint features you're most proud of?
A: There are 3 things at the moment which set us apart:
* Our ability to aggregate data from multiple data sources and classify it so our members can find precisely what they are seeking; this is no easy thing
* Our mobile application allows subscribers to access Worthopedia at virtually any location making their subscription more valuable since they can use it at auctions, estate sales, antique malls, whatever
* Our evolving taxonomy structure will allow our members to refine their searches to a very fine level. By the end of January, searches will be able to segment in over 200 categories making the matches highly relevant and price data spot on for item valuation.
Q: Which Worthpoint features are most used?
A: * Worthopedia
* Classified ads
* Ask-a-Worthologist evaluations
Q: You have a new iPhone mobile application, how does it work and what can people expect from it?
A: Paying members can log in simply via their iPhone or any device compatible with the Safari browser including Palm OS devices. Once logged in, they can research any item and receive images, descriptions and information on auction results including prices. The mobile app is especially useful when people are visiting flea markets, land based auctions, estate sales, and other events where it’s not convenient to access a computer.
Q: How many page views does the site enjoy at this time?
A: WorthPoint/GoAntiques had nearly 10 million page views in the last 30 days and 3 million visits.
Q: Can you give me a specific example of how using Worthpoint has saved or made someone a lot of money from avoiding a mistake, or discovering a great find? (Will can build on this)
A: Here’s a quote from one customer that used our Ask-a-Worthologist service recently:
“very happy with this, It was a quick Reponses and a fair price, thank you for the information”gloria.
Also Henry Rinker has endorsed our offering regularly as do many other industry insiders –
"When I need to expand my knowledge -- whether identifying an object, learning its value, or keeping abreast of the latest news in the trade, I turn first to WorthPoint. WorthPoint provides the answers I need."
We also have a woman in Colorado who had a painting she thought was worth nothing. We helped her identify it; she was able to sell it at an auction in New York for $103,000.
Q: What's in store for Worthpoint in 2010?
A: We will be adding a Personal Gallery section in Q2. In addition, we have a great distribution partnership with Terapeak/AERS and hope to build upon that. Above all we will be implementing a Taxonomy Wiki by spring, allowing our members to help shape how we classify items - thereby maximizing utility for them. Accordingly, we plan to further advance our taxonomy structure – eventually making it possible to individually identify items with prices.
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Disclosure Statement: As an online columnist who is also licensed auctioneer, appraiser, antiques broker, events speaker and promotor, you can assume that I get conpensated for anything I publish.
Comments
what happens when a painting shows up that you did years ago that was donated to a local school,disappeared for 50 years ,then shows up on worthopedia as sold!!! ie a Lincoln painting...
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