Luxury consignment website the RealReal has opened a bricks-and-mortar office in Los Angeles to offer on-the-spot appraisals of watches and jewelry.
The appointment-only, 2,500-square-foot space in Century City, which officially opens next week, is what the company calls a "valuation office" staffed with gemologists and watch experts who will examine timepieces and fine jewelry and provide -- free and in writing -- what the item's resale value would be if it were to be listed for sale via the RealReal website.
While that certainly sounds like the kind of business you'd expect to transact in the more traditional setting of, say, a pawnshop, the RealReal folks have taken great pains to give it the feel of a luxury shopping excursion, from a minimalist-chic interior designed by Courtney Applebaum (whose handiwork also graces the interior of the Row's retail stores) to dressing gemologists in quilted white lab coats and Manolo Blahniks.
The Los Angeles office is the second such real estate move for the RealReal, which opened a similar space in New York in August. The San Francisco-based company plans to open its third valuation office in Chicago next month.
What's in it for the RealReal? They get a 40% cut of whatever consigners decide to sell via its website, 30% of anything over $7,500 in annual sales.
The RealReal, Monday through Friday, 9 a.m. to 5 p.m., by appointment only, 1901 Avenue of the Stars, Los Angeles.