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NextWorth Launches First Boston-Area, Full-Cycle Service to Simplify Selling Unused Items Through Markets Like eBay, Craigslist & Google

NEEDHAM, Mass (BUSINESS WIRE) 01/17/2006

Community-focused consignment brokerage serves consumers, businesses, schools, and non-profits handling entire process of preparing, marketing, selling items--off and online

In response to demand from buyers seeking items through online destinations like eBay, Craigslist, and Google--NextWorth Solutions, Inc. today launched a comprehensive service providing Boston-area sellers with a simple, profitable way to prepare, market, and sell unwanted items and inventories via online and offline channels. A NextWorth differentiator: its unique "PreBay" service which offers consigned items to the Boston market before being offered to internet users worldwide.

While auction brokers including AuctionDrop, QuikDrop, iSold IT, and NuMarkets run eBay drop-off services from their headquarters in the southern and western United States, NextWorth stands out as a unique service dedicated to the Boston area.

-- Operating from its Needham processing center, off of Rte. 128, NextWorth is the only asset brokerage service dedicated to the residents of Metropolitan Boston.

-- Whereas other services are eBay-only, NextWorth's business merchandises items through a combination of local and national offline and online channels including Amazon, Craigslist, Google, Overstock.com, and Yahoo!, in addition to eBay and the NextWorth retail facility.

-- While many competitors operate as franchises, often requiring customers to drop-off items at a shipping storefront (e.g. UPS Store), NextWorth offers a complete "call-to cash" service: customers need only call or e-mail NextWorth and a representative can provide a free, in-home valuation, pick up the unwanted valuable, and deliver it to the company's central processing facility in Needham. Thereafter NextWorth's customer service representatives manage the entire sales process, including taking professional photographs, preparing keyword-optimized descriptions and developing a customized listing strategy to target items for quick turnaround and profit. Customers may opt to bring for-sale items to the Needham storefront for processing, and while there, see available items that they might be interested in purchasing.

-- Central to the NextWorth selling process is an at-home or at-store consultation with one of the company's Independent Asset Consultants (IACs). Trained and certified by NextWorth, IACs are incented and compensated (through significant commissions) to source items through their personal, professional, and virtual networks; and to educate and hand-hold customers throughout the selling process in order to ensure a positive experience, and the highest selling price for customers' goods.

-- While NextWorth facilitates the sale of a range of items, its iPod Trade-In Service makes it easy for music lovers to quickly convert the value of used iPods and trade up to the latest model and accessories using proceeds from the sale. With more than 28 million iPods sold, according to Piper Jaffrey's Senior Research Analyst, Gene Munster "there is an emerging market for older iPods," as consumers want the latest styles and features.

"While many consumers, businesses, and non-profits have unused items that could readily be turned into cash, they are put-off by the considerable time and expense involved with the online selling process," said Dave Chen, CEO & co-founder. "NextWorth simplifies the process, seamlessly converting unused possessions into instant capital," said Chen.

"Industry analysts estimate that the ratio of buyers-to-sellers on eBay is a disproportionate 20:1," said Andrew Walsh, Esq., president & co-founder. "We've designed NextWorth to remove the hassle from the selling process, while ensuring the privacy and security of our customers, and serving as a guaranteed trusted brokerage for both buyers and sellers."

NextWorth lets Mass. Residents "Create Commonwealth": turn unused into cash

What's it cost?

NextWorth's pricing is structured as a tiered commission plus a flat processing fee. NextWorth retains 33 percent for the first $1,000 of a sale, 20 percent on each dollar above $1,000, plus a flat $20 processing fee. Thus, if NextWorth sells an item for $1,500, the seller receives $1,050 and NextWorth receives $450. Customized rate plans are developed for businesses and nonprofits depending on volume and services needed.

NextWorth serves three markets companies, individuals, and non-for-profit organizations:

1) Businesses: Liquidate fully-depreciated items into charitable contributions

NextWorth offers businesses a variety of services including overstock liquidation, outsourced trade-in programs and sales of "no-longer-used" equipment. For example: a business may have a stock of fully-depreciated, 3-year old computers that could be liquidated into a cash donation for the company's charity of choice. Businesses benefit as NextWorth provides them with a quick turnaround for access to capital; new marketing opportunities for converting customers; as well as channel conflict mitigation, ensuring their anonymity and security.

2) Consumers: Clean out the garage, fill your bank account

To ensure successful sales and best returns for its customers, NextWorth requires that items must be authentic, in working condition and have a minimum resale value of $100 (typically $300 new at retail). Some of the products that may be sold include: Antiques & collectables; Audio, video & camera equipment; Computers, PDAs, iPods and other personal music/gaming devices; Designer accessories, clothing, jewelry, handbags and watches; Musical instruments and recording equipment; Sports & hobby equipment. For a full listing of product categories visit: http://nextworth.com/selling/whatwesell.php "I inherited a painting several years ago from a relative," said Elizabeth Flanagan, a resident of Wellesley Hills. "While it's quite valuable, it will never fit in with our home decor, so I'm planning to call NextWorth to get the portrait out of my basement and let them sell it for me. I can then use the proceeds to pay off my Christmas shopping bill or buy something my family really needs."

3) Profits for Non-Profits

In the aftermath of 9-11, the Tsunami and Katrina disasters "donor fatigue" has set in for many greater Boston residents. Given the regular competition for charitable contributions due to the region's high number of worthy causes, non-profit organizations (from large foundations to local school PTAs) are feeling the pinch, and seek new means to meet fundraising goals. NextWorth's Independent Asset Consultants meet with a charitable organization to custom-design a campaign to liquidate unused assets and convert material donations into cash.

"We aim to be a resource for the community, and take pride in making it a better place by proactively turning underused assets into opportunities for change," said Scott Richardson, NextWorth's VP for Business Development & Community Commerce; formerly an executive for two non-profits and a consultant to the NPO profit sector.

About NextWorth

Headquartered in Needham, Mass., NextWorth is a provider of convenient, outsourced, trade-in services designed to help individuals, corporations, a non-profits create new capital by facilitating the sale of unused valuables through multiple online and offline sales channels. NextWorth's goal is to become the leader in providing professional, community-based, trusted selling solutions to owners of items valued between $100 and $3,000+. NextWorth provides sellers with a hassle-free experience through a unique, personalized, full-circle approach for best financial return and rapid liquidation. The NextWorth management team consists of veterans from commerce, financial, and Internet services and the non-profit sector, with years of expert auction experience and a unique People-Service-Value approach. NextWorth is a private company, funded by angel and institutional investors. www.nextworth.com

Press Contacts: press@nextworth.com or call 781.449.4700

NextWorth, PreBay, and Create Commonwealth are trademarks of NextWorth Solutions, Inc. Copyright 2006 All rights reserved. All other products & brands mentioned herein are the property of their respective holders.

Contacts

For NextWorth
Patrick Rafter, 617-901-2697
prafter@intrastand.info

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