Case Study #1
Who: SF Gold Buyer
Date: March 12, 2019
Business Type: Collateral Lender
Spokesperson: Julian Lopez, Luxury Goods buyer
Located in the West Portal neighborhood of San Francisco, California , SF Gold Buyer is an upscale collateral lender which loans on, purchases outright and sells high-value goods like designer handbags, watches, jewelry, coins, and artwork.
With the growing demand for luxury handbags, SF Gold Buyer saw an opportunity to expand their ability to provide secure loans on high dollar merchandise while also simplifying the verification process for items to be sold at their location. The prominent reseller had one major concern; within their small staff, only one of them had experience in authenticating such items.
In addition, fake handbags continue to be harder to spot and the cost of making an error while verifying the authenticity of a product could be detrimental to the company.
SF Gold Buyer reached out to Entrupy to learn more about the company’s artificial intelligence-based solution that guarantees the authenticity of high-value luxury handbags and accessories. Entrupy provides the only scalable technology capable of authenticating luxury products from brands such as Louis Vuitton, Chanel, and Hermes, among others. Developed by a team of technologists and mathematicians, Entrupy’s solution uses machine learning algorithms and computer vision technology to verify items with a 99.1% accuracy rate and is currently in use by hundreds of secondary resellers, retailers and marketplaces worldwide.
Since partnering with Entrupy three years ago, SF Gold Buyer has increased the sales of it’s luxury handbags and accessories by double digits year-over-year. The easy-to-use process has also allowed the company to close large deals within the same day without placing a strain on the company’s resources. Last year alone, luxury sales were up by 70%.
Clients of SF Gold Buyer also love to watch in store as items are authenticated right before their eyes.