The Secondhand Market Contends With Potentially Looted Goods

Author:Tyler McCallPublish date:Jun 16, 2020In late May, as tensions surrounding the deaths of George Floyd and Breonna Taylor at the hands of police and nationwide anger about police brutality against the Black community grew, protests exploded across the country. Some escalated into cases of property damage and looting, which has also opened a debate about what role looting plays in protests, if any.

Hope-Noelle Davenport, the founder of resale site HauteTrader, doesn't think that companies like hers should profit off of merchandise that was looted during protests.

Through a representative, The RealReal explained: "We're applying extra scrutiny to consignments of styles that are currently available in stores. As we always have, we will continue to work closely with local and federal law enforcement to prevent the trafficking of stolen goods.

The bigger players in the market all have established protocol for weeding out stolen goods, whether that's using the aforementioned LeadsOnline database or working with local authorities. Davenport says her tech team already has algorithms pulled from her data set to detect listings of items which have potentially been stolen.

The problem, Davis clarifies, is that the counterfeit paperwork has become even more believable than the counterfeit bags, in some cases, which makes it an imperfect system. Furthering the issue is that there's no centralized database for registering luxury goods. Davis compares it to the VIN numbers used by the automobile industry: "CarMax isn't buying stolen cars, because if they run the VIN number and it's stolen, they won't take it," she explains.

I’m on the...fence.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market live updates: Pullback continues, Dow futures crater 2%, second wave?A conversation about market moving news. Typo, it’s not a question. Try and exclamation mark !!😉 Crater 2% ? Really! Decline, soften perhaps …. Fake news , there is no second wave , the scare campaigns from media .please stop manipulate the market .
Source: CNBC - 🏆 12. / 72 Read more »

Analysts' view: Market jitters over second COVID-19 wave are an overdue pullbackA second straight day of record new coronavirus cases in Beijing and a spike in infections across a swathe of the United States has dented investor sentiment and sent stocks sharply lower on Monday. The roller coaster continues. Perhaps we should focus on other matters than the current schizophrenia of the stock market? After all, it doesn’t reflect the true economy. VoteTrumpOut2020
Source: Reuters - 🏆 2. / 97 Read more »

Hertz tanks 25% after filing to sell up to $500 million in potentially 'worthless' stock - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Wow, I worked for this company years back.
Source: BusinessInsider - 🏆 729. / 51 Read more »