Consignd (ERA W'13)

Consignd was founded in 2012 by Neil Parikh and Gabriel Flateman and participated in the Entrepreneurs Roundtable Accelerator (ERA) Winter 2013 batch, securing $40,000 in funding. The company operated within the art market, providing a platform for consigning art. This business model involves the owner of an artwork (the consignor) entrusting it to an agent, like a gallery or auction house (the consignee), to sell on their behalf. The consignee handles the sale and takes a commission from the final price, which is the primary revenue stream in this model.

The platform aimed to connect consignors with a network of potential buyers, offering wider exposure than an individual seller might achieve alone. This service is common in the art world for selling unique or secondhand pieces. The process typically involves an agreement detailing the sales price, commission split, and terms of the consignment. After their time at Consignd, both founders moved on to other ventures; Gabriel Flateman co-founded the sleep products company Casper, and Neil Parikh became an angel investor in several companies.

The core of the consignment business is that the consignee does not own the inventory outright but acts as a middleman, which reduces upfront capital investment for the platform. Consignors benefit by leveraging the platform's professional services and market reach, though they only get paid once the item is sold. The typical commission for the consignee ranges from 40% to 60% of the sale price. Information on the current operational status of the Consignd website or company is not readily available. Keywords: art consignment, Neil Parikh, Gabriel Flateman, Entrepreneurs Roundtable Accelerator, ERA, art market, online art sales, art gallery consignment, auction house consignment, secondary art market, art collectors, consignor services, art brokerage, consignment agreement, art investment, art ecommerce, art resale, private art sales, contemporary art sales, art valuation