WHAT IS COIN?
COIN is a directory in an app connecting collectors, buyers and sellers with experts at the finest galleries and boutiques in London and the UK.
We’ve created a unique platform that allows you to buy and sell secondary market items with convenience and confidence. You’ll find hundreds of items on the app – art, jewellery, watches, design, rare books, antiques, fashion and collectables – all from recommended experts or our trusted sellers with our guarantee of authenticity.
The COIN app allows you to sell quickly and discreetly, while achieving the best value for your items. All offers are sealed: messages and negotiations are secure and confidential.
If you have items to sell, you can quickly and easily upload them to the app, and through an algorithm we have created we are able to match your item(s) with a list of the most suitable potential recommended expert buyers then start receiving offers. All communication is instant, completely private and free.
On our user-friendly app you will have access to our directory of recommended experts from the finest galleries and boutiques in London and across the UK. You can view experts’ details and reviews, and connect with authentic sellers and genuine buyers.
Browse, buy and sell from wherever you are, with no waiting and no fees. Communicate directly with the seller within the app to make an offer and agree a price. We don’t charge commission: the price you agree is the price you pay and they receive.
Look out for great deals in our Snap Sales. Find rare and unique items from our recommended experts at exclusive Snap Sale prices. Each item is only available for a limited time, so send the seller an instant in-app message as soon as you spot something you like. Again, there’s no commission on these items, so there are some truly great deals to be snapped up.
Download the app Discover, Buy & Sell
How COIN works
The COIN app is quick, easy and free to use. Follow our step-by-step guides and get buying or selling today.
GUIDE FOR SELLERS
- Download the COIN app
- Create a COIN profile in seconds
- Upload details of your item
- You’ll get an instant access to a selection of the best potential recommended expert buyers for your item.
- You can choose to:
- Message all matched recommended expert buyers with your item
- View their profiles and message selected recommended expert buyers
- Request to post your item onto the COIN feed. If suitable and once verified by our team, the item can be seen by both expert and private buyers.
- Receive offers and negotiate with recommend experts and potential buyers directly within the app to agree the sale. All offers are sealed, and conversations are confidential so no one buyer sets a price.
GUIDE FOR BUYERS
- Download the COIN app
- Create a COIN profile in seconds
- Browse through hundreds of items either in our ‘snap sale’ or our feed, filtering to your requirements
- Agree terms and deal direct with any seller.
It is strongly recommended that sellers use our Premium service for private sales. With our Premium service, COIN looks after every aspect of the sale from the moment the item is uploaded. We manage authentication, communication, logistics and insurance. We’ll also handle the payment process for you, saving you hassle and giving you peace of mind. For the premium service, we charge 5 – 10% of the final sale price.
How to join our network of experts
If you’re an art jewellery, watch, design, antique, rare book or collectables expert and you’d like to join our network, please email email@example.com and let us know your expertise. Start receiving instant notifications for fresh to market from our sellers.
The COIN Feed
The COIN feed is a bespoke selection of our experts’ inventory, tailored to each buyer’s likes and interests. Unlike real-world auctions and online platforms, the price advertised is set by the seller with no commission added. Through the app, buyers can contact expert sellers direct to negotiate and agree a sale, with no interference and no fees from us.
The feed also features verified items from our private sellers, who can choose to deal directly with buyers or leave us to manage the process by using our Premium service.
The COIN Verification Process
Private sellers must register with a photo ID. Private sellers using the Premium service will be subject to an online identity check in order to complete the sale.
Items posted by private sellers to the COIN feed are subject to our verification process. Items suitable for the COIN feed must meet the following criteria:
Photographs of the item
The listing must include clear photographs of the item on a plain background. Ideally, listings should contain several photographs, showing the item from different angles and any important details.
Unlike traditional auction houses, we don’t insist on setting a price range, but we do encourage sellers to set realistic prices to encourage an achievable sale.
To help sellers achieve the best possible price, we ask for details of the item’s provenance and proof of ownership. We do not share the details with buyers, it’s used our internal quality assurance only.
About the founder
Working with art and collectables in the secure asset finance industry for 20 years, I have an in-depth knowledge of the industry, and extensive experience of dealing with high net worth clients and their assets. Personally, I have overseen and been responsible for loans and auction sales totaling in excess of £180 million, mainly within the art market but also with items of design, fine jewellery and watches.
I saw the potential of digital within this market early on. In the early 2000s I led the digital transformation of my then employer, an asset management company, launching their website and introducing digital marketing. In 2004 I built up a new department to start loaning against fine art. This was outside of the company’s traditional model but grew consistently year on year. By 2016, it accounted for over 60% of the business.
Having successfully taken a disruptive and innovative approach to the asset management industry, I set my sights on secondary market sales. While working with traditional platforms and auction houses, I had the idea that there could be a different way that created more value for the buyer and seller. This became the ethos for COIN and, the more I discussed it with clients, galleries and experts, the more convinced I became.
For me, the main areas that needed addressing are the commission charged in secondary market sales and the time it can take to complete a sale. Some online platforms can demand up to 25% of the sale price and some auctions up to 30% between the actual sale price and the price the buyer pays.
An often-complicated process to upload items for sale on an online platform can cause considerable frustration and then in turn it can be equally frustrating waiting for an actual sale this is all before you have complied with a verified postage procedure until you can finally get paid. Auctions likewise can cause delays for many buyers and sellers waiting for the right auction or consignment. Some major auction houses may only run specialist sales twice a year, and consignment dates (by which an item must be submitted) can be up to a month in advance, then payment for the vendor is usually 30 days after the actual sale. With some auctions (online and real world) buyers can also suffer the inconvenience of having to wait weeks before finding out if they have won their coveted object, or if it’s been swiped at the last second by another bidder.
I appreciate the buzz of an auction, the prestige a sale room can bring, I understand its value in certain cases, and auction specialists are among the most knowledgeable professionals in the secondary market so would always consider this route, seek advice look for the best option for an actual sale. However, using technology and working with experts that actually trade in their industry, I believe COIN offers a service that puts the focus where it should be: on the seller and the buyer. A service that saves time and money for everyone involved.
The story so far
Since August 2017, we’ve been honing our technology and using our growing database to match items with potential expert buyers. Testing our system in this way, we’ve generated traction through word of mouth and social media, and have already assisted 100s of clients. We’ve placed a range of items including: fine watches, jewellery, rare books, vintage lighters, prints, works of art, handbags, antique Irish silver and 20th-century furniture. This has given us proof that there’s a need for this service, and that the system works. We’ve achieved some great results for sellers and buyers alike and have received superb feedback all round. Our network of experts are enthusiastic advocates of our innovative way of working, and continues to grow.
Officially launching early 2018, we’ll continue to provide value within the art and collectables secondary market, providing a transparent platform which opens up communication for buyers and sellers alike.