*The actual number is close to $100 million in retail value
Praise for FutureShop
Books about e-commerce tend to be like uninspired sex: a convenient shortcut to a nap. But [ FutureShop ] is like the jolt of a double espresso. In Daniels view, eBay is creating an auction culture that is transforming the way we shop on-and offline. After all, when a used car is transformed into a preowned Lexus, secondhand status has lost all its stigma. Who knew that secondary markets could be so interesting?
The Wall Street Journal
Would you buy a used engagement ring? What about a used share of Google stock? Whats the difference? This breathtaking, clear, compelling book by Daniel Nissanoff reveals that in the future, there is no difference.
Seth Godin, author of Free Prize Inside!
Dan Nissanoffs FutureShop is an insightful look at an explosive new trend, revealing that the future looks bright for consumers and entrepreneurs alike, and that the new auction culture is here to stay.
David Bach, author of The Automatic Millionaire and Start Late, Finish Rich
EBay and its imitators have profoundly changed the way consumers shop and buy, and Dan Nissanoffs FutureShop shows that what weve seen so far is only the beginning.
Michael Silverstein, coauthor of Trading Up and senior vice president, The Boston Consulting Group
Dan Nissanoff views the future with a jewelers eye, and FutureShop is a quantum jump in strategic thought.
Ed McQuigg, group vice president of marketing, Richemont
What was the last business book you read that kept you up past your bedtime? This one will. Who knew that the future of secondary markets would be so entertaining?
Paco Underhill, author of Why We Buy: The Science of Shopping
The authors economic argument is persuasive. Daniel Nissanoff has seen the revolution, and it is in mint condition, still in the original box.
Harvard Business Review
Its been a few years since dot-com explorers claimed to have discovered an online El Dorado. But Daniel Nissanoff has been there, and he has returned with a map that he says leads right to a $250 billion market. The best part? The trailhead begins with the junk piled up in our very own closets.
Fast Company
If you think putting out $700 for a stroller is foolish extravagance, think again. The stroller is only one of scores of examples [Nissanoff] provides to drive home the point that consumers today are increasingly shedding their accumulation culture mind-set and are moving toward an auction culture mind-set.
The Boston Globe
Shopaholics and the rest of us will need Nissanoffs blueprint for the oncoming secondhand revolution thats just starting up as armies of pack rats clean out closets, garages, attics and sheds for profit.
Palm Beach Post
It would be a good investment to buy [ FutureShop ]new or used.
The Arizona Daily Star
Daniel Nissanoff is a Web entrepreneur who founded numerous leading Internet companies. His most recent venture is Portero, an online facilitation company specializing in the resale of luxury goods. He was a 2001 finalist for the Ernst and Young Entrepreneur of the Year Award and has consulted for several Global 500 companies regarding business strategies for coping with online secondary markets. He has been quoted in hundreds of magazine and newspaper articles and his work has been profiled in such leading publications as The Wall Street Journal, Harvard Business Review, and Time magazine.
FUTURESHOP
How to Trade Up to a Luxury Lifestyle Today
DANIEL NISSANOFF
PENGUIN BOOKS
PENGUIN BOOKS
Published by the Penguin Group
Penguin Group (USA) Inc., 375 Hudson Street, New York, New York 10014, U.S.A. Penguin Group (Canada), 90 Eglinton Avenue East, Suite 700, Toronto, Ontario, Canada M4P 2Y3 (a division of Pearson Penguin Canada Inc.) Penguin Books Ltd, 80 Strand, London WC2R 0RL, England Penguin Ireland, 25 St Stephens Green, Dublin 2, Ireland (a division of Penguin Books Ltd) Penguin Group (Australia), 250 Camberwell Road, Camberwell, Penguin Group (Australia), 250 Camberwell Road, Camberwell, Penguin Books India Pvt Ltd, 11 Community Centre, Panchsheel Park, New Delhi110 017, India Penguin Group (NZ), 67 Apollo Drive, Rosedale, North Shore 0745, Auckland, New Zealand (a division of Pearson New Zealand Ltd) Penguin Books (South Africa) (Pty) Ltd, 24 Sturdee Avenue, Rosebank, Johannesburg 2196, South Africa
Penguin Books Ltd, Registered Offices:
80 Strand, London WC2R 0RL, England
First published in the United States of America by The Penguin Press, a member of Penguin Group (USA) Inc. 2006
Published in Penguin Books 2007
Copyright Daniel Nissanoff, 2006
All rights reserved
THE LIBRARY OF CONGRESS HAS CATALOGED THE HARDCOVER EDITION AS FOLLOWS :
Nissanoff, Daniel.
FutureShop: how the new auction culture will revolutionize the way we buy, sell, and get the things we really want / Daniel Nissanoff.
p. cm.
ISBN: 978-1-1012-0174-9
1. Internet auctions. 2. Secondhand trade. I. Title: Future shop. II. Title.
HF5478. N57 2006
381'.177dc22 2005056563
Except in the United States of America, this book is sold subject to the condition that it shall not, by way of trade or otherwise, be lent, resold, hired out, or otherwise circulated without the publishers prior consent in any form of binding or cover other than that in which it is published and without a similar condition including this condition being imposed on the subsequent purchaser.
The scanning, uploading and distribution of this book via the Internet or via any other means without the permission of the publisher is illegal and punishable by law. Please purchase only authorized electronic editions, and do not participate in or encourage electronic piracy of copyrighted materials. Your support of the authors rights is appreciated.
To Amy, Asher, and Phoebe
FUTURE SHOP
INTRODUCTION
I was visiting with my friend Anna, a twenty-nine-year-old interior decorator, not long ago on a warm summer afternoon when the doorbell rang unexpectedly. Anna disappeared to see who it was, and I continued to chat with Jamie, her new husband, about their Caribbean honeymoon until his wife interrupted us.
Jamie, we got another one, Anna called, resignation audible in her voice, from the hallway, before she returned carrying a heavy box with large Crate and Barrel labels prominently displayed on all sides. They opened the package with none of the excitement one might expect of a young couple surveying their spoils to discover that Annas cousin David and his wife, Sara, had sent them a portable cast-iron grill. Jamie quickly closed the package up again and carried it to the closet, where he added it to a teeming collection of similar boxes from Tiffany, Williams-Sonoma, and Target.
Most of the couples I know who register for wedding gifts think of the process as a fabulous shopping spree on someone elses account. They let their imaginations run wild. Should we get napkins in blue or green? Should the hors doeuvres platter be gold or silver? Birch or maple salad bowls? Put us down for the stainless steel versionmake that two! No longer just for place settings and linens, wedding registrations have evolved to the point where couples can now add tents, lumber, and stereos to their wish lists.
Anna and Jamie, however, had a different kind of wish list. Theyve been into gourmet cooking for years, so their kitchen is already stocked with coordinating plates, and all the spring pans, Italian bottle stoppers, microplane zest graters, and professional-quality slicing, grinding, and pureeing appliances they could ever need. Theyve lived together for a couple of years, so their bathroom already has matching plush towels, and theyre very happy with their Egyptian cotton sheets. They simply didnt need most of the wedding gifts they received, as much as they appreciated the generosity of those who sent them. What they really wanted, instead, to get their married life off to a good start was something different.
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