MGMT451 discussion board

Part 1:

WorthPoint Case

WorthPoint is an online service letting customers determine the likely resale value of their art, antiques and collectibles. Founded by George Mason University alumni William Seippel, WorthPoint offers a vast database of historical prices for auction sales of personal property, focusing mostly on antiques and collectibles. It is especially popular with antique shop owners and serious collectors, but can also be used to value just one or two items – typically of interest to those who have inherited “grandma’s china.” As you read the WorthPoint case, be thinking about these questions:
What was the original business model conceived by Will Seippel?
How did the business model change through the years? Why?
Would you call WorthPoint a success today? Why or why not?

Step 1. Read the case carefully & thoroughly.
Click here for a link to the written WorthPoint Case. – Alternative Formats

Step 2. Discuss the case with your teammates, either using your coffee shop discussion thread, or your team thread for the case.

Step 3. Post your answers on our Discussion Board on the WorthPoint Case. Answer the specific questions above in your discussion. Come up with an agreed-upon set of recommendations, which you include in your discussion.

Part 2:

Reply to a classmate’s post. Below is my classmate’s post.

WorthPoint Case was created for the purpose to determine the resale value of their art, antiques and collectibles. Its actually very smart on Will Speippel’s part (the founder) becaues he predicted that all these younger generations would recieve their parents and grandparents valuable collectibles. He would make his money by using advertising and in web subscriptions that his platformed offered. The major change was from it being its own website/company without the partnership of anyone to partnering with eBay to give data. I honestly would say that the main reason it did not last as successful is that the demand wasnt really there. I would bet that the majority of peoples belongings were not worth that much and even if it was, his website cannot profit on that since they are just there to provide information instead of sell the item.