Reverb - Music Marketplace
Posted by The Fretwire on
My poor blog has been very neglected lately, mostly because I have been busy selling gear like crazy. While most of my sales have been through traditional online marketplaces lately, I have been watching Reverb closely. And I like what I see. Reverb is a marketplace specifically for musicians. Founded by David Kalt just over a year ago, Reverb wants to become the defacto destination for buying and selling new, used and handmade gear. Here is why they are poised to take the market by storm: 1. Making your addiction affordable Many music gear collectors don't like to hang onto each piece forever. If you are like me, there are a few guitars that will never leave my grasp, but everything else is open to negotiation. The easiest way I get to buy a new guitar is to sell one I have. Rather than paying 10-15% seller commissions on eBay or Amazon, Reverb charges 3.5%. That little fact lets me trade gear a lot more often. 2. Run by Gear heads, for Gear heads One day I sold 10 guitars to a single buyer on eBay. eBay was nice enough to combine the weight of all 10 guitars into a single shipping box and charge the buyer $60 in shipping fees. My actual cost was around $200. System glitch or not, I couldn't fit all 10 guitars in one box. At least not without lots of splinters. The Reverb guys get music gear. It's all they do. This comes through in their blog posts and newsletters highlighting the best, strangest, most valuable listings of gear available for sale on the site. 3. Audience Reach The big marketplaces have one thing no one else has- a large audience. The power of an auction lies in the visibility among bidders. Reverb is new, but growing like crazy. All their key metrics are increasing every month. As the critical mass of their audience grows, so does the value of their service. 4. Tools The listing process is incredible. Both the web and mobile experience make the task of listing items for sale quick and painless. What is next? A lot of Reverb's initial listings focused on vintage gear, but they haven't stopped there. Vintage still has a presence, but so does handmade and new gear. Its like Etsy, but I don't fall asleep after 30 seconds. Reverb is making a splash in the industry, with a commanding presence at NAMM 2014. The just closed a $2.3 Million round of financing. They aren't going anywhere. Are you in?