Reverb Builds Thriving Music Instrument Marketplace
Reverb is a well-thought-out online marketplace for instruments and gear said to be inspired by founder David Kalt's own problem selling used instruments on Ebay. Kalt, who also acquired and operated the used and vintage instrument store Chicago Music Exchange, launched Reverb in January and says it's showing strong growth.
David Kalt acquired Chicago Music Exchange in 2010 and returned to his dream of a career in music via used and vintage instrument sales. However one of the downsides he encountered was selling on Ebay.
Kalt's "pain point" with Ebay sales led to the launch of Reverb:
"He decided that the next step was to solve that pain. That’s where the concept for Reverb came about: to create a marketplace for musicians that’s really tailored to people who love music and shopping for gear and for people who are gearheads and collectors. Unlike eBay and other online markets, Reverb is a highly specialized approach to catering to musicians and doing a better job with that."
Reverb is a nice looking site. Individual pages are well-organized to present seller info. Related items are displayed in the sidebar and seller reviews and ratings are easy to access.
Some items have a fixed price and some include the option to make a lower offer.
Browsing options range from instrument categories and brands to "handpicked collections" for some really interesting themed selections of instruments and gear.
Another special feature is the Reverb Price Guide that provides an estimated price range and examples of previous transactions to help determine the value of one's goods.
David Kalt reveals that Reverb is doing well:
"Last month $180,000 of gear sold through Reverb…This month we're on track to do $330,000 in transactions."
Kalt's currently raising funds from friends and family to support future growth.
Hypebot Senior Contributor Clyde Smith (@fluxresearch/@crowdfundingm) also blogs at Flux Research and Crowdfunding For Musicians. To suggest topics for Hypebot, contact: clyde(at)fluxresearch(dot)com.