Wednesday, 18 November 2009 “It’s eBay For The Mega Rich” – 18/11/2009

Forget eBay, now billionaires have their own online auction place to buy, sell or barter their million dollar jewellery, yachts and mansions. It’s called, a website where the minimum bid is US $1000.

However unlike eBay, this site guarantees all items' authenticity and will not release payment until the goods are delivered.

The site, which collects a fee of up to 5 percent per sale, claims to have 26,000 multimillionaires and "nearly a dozen" billionaires signed up, according to an article in the New York Post. Interesting! Perhaps billionaires can’t resist the website’s catch cry – “so register today, and start bartering like Billionaires”…

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Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,