New York based Portero.com has raised $6.6 million in VC funding. The Series B round was led by LFE Capital. Portero.com provides a luxury marketplace and auction site for authenticated luxury items from hundreds of brands since 2004. Categories include jewelry, watches, accessories and fine housewares. Portero’s emphasize is placed on the value-add provided by their authentication process and the all-inclusive consignment process including: research, pricing, professional photography, description write-up payment, shipping and finalizing the sale of your items. As an example, see below the most expensive jewelry currently listed with active bids:
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You still can’t touch this, but you can now get really up close to the masterpieces of the Prado Museum with the new Google Earth layer.
VistaPrint makes custom business cards and postcards easy, CafePress puts your message on your T-shirt, Blurb helps you publish and sell your own book and now Paragon Lake enables consumers and designers to create custom jewelry using online tools and lots of good old creativity. With their recent funding of $5.8M from Highland Capital Partners and Canaan Venture Partners, Paragon Lake aims to help independent jewelers deliver customized fine jewelry.
Paragon Lake provides online design tools which makes the custom jewelry design process much easier for jewelers, consumers and designers. There is an opportunity here for the low-end and high-end jewelry market alike.
We are eagerly waiting for the first million dollar custom jewelry to come out of this business model and technology.