Step inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
Bidz.com is back in business
After purchasing Bidz.com's intellectual property, a team that includes the former CEO's daughter is giving the auction site a second try.
Los Angeles-- After purchasing Bidz.com's intellectual property, a team that includes the former CEO's daughter is giving the auction site a second try.
The new Bidz.com, which was redesigned to be cleaner and more image-driven, functions the same as it did prior to its liquidation--it offers closeout jewelry, watches and select other accessories in an online auction format.
Danielle Zilberg, who also worked with Bidz.com before and helped put the new management team together, said that they have partnered with many of the same vendors to establish the inventory on the site and also have been building new vendor connections as well.
“It was important to us to restart the company and redeem ourselves,” she said. “We are passionate about closeout jewelry and watches, and we believe that everyone should have access to the finer things without the cost. If they loved us once, they’ll love us twice.”
In June 2014, a group of six suppliers and manufacturers owed a total of $1.3 million from Bidz.com filed a Chapter 7 (involuntary) bankruptcy petition against the company in U.S. Bankruptcy Court in Delaware.
Two weeks later, interim CEO Evan Warshawsky filed a declaration in response saying that the company had ceased sales as of June 12 and had already begun liquidating.
On Aug. 19, U.S. Bankruptcy Judge Kevin J. Carey signed an order dismissing the Chapter 7 case, court records show. Insolvency Services Group Inc. was named the assignee in charge of dissolving the company.
Overstock.com purchased Bidz.com’s inventory, estimated to be worth more than $89 million at retail, and launched its Jewelry Liquidation Vault with it.
Hilco Streambank, a firm that specializes in selling intellectual property, was retained to sell Bidz.com’s intellectual property, meaning its name, customer list, domain and software. Hilco announced the sale via auction of the Bidz.com Inc. trademarks, domain names (including both Bidz.com and Buyz.com), and customer data base on Sept. 2.
On Dec. 8, people associated with the original Bidz.com team bought back the site’s IP. They relaunched it the last week of January under new management, which includes Zilberg, as well as Daniella Zinberg, the daughter of former Bidz CEO David Zinberg. Zilberg said David Zinberg serves as an advisor to the current Bidz.com team.
She told National Jeweler that the company, which is headquartered in the St. Vincent Jewelry Center in downtown L.A., is even more focused on watches
Additionally, the company did not bring back Buyz.com, its fixed-price site. “We are bringing back Bidz at full force and focusing all of our attention on this business. Buying back Monique, and/or restarting Buyz.com would have deviated us from this goal,” Zilberg said.
--Editor-in-Chief Michelle Graff contributed to this report.
The Latest
These punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
The company brings its nanotechnology to two new fancy cuts for diamonds that feature its signature color and brilliance.
From protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
Sponsored by Tasha R
Three Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
Cynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
This fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
The auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
The four finalists will present their pieces at the 2025 JCK Las Vegas show.
The “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
The money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
The event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
Local reports identified the woman as the wife of the jewelry store owner.
A collection of pieces owned by Ferdinand I, the first king of modern Bulgaria, and his family, blew away estimates in Geneva last week.
The Australian jewelry box brand’s new West Village store will showcase new jewelers each month through its Designer in Residence program.
“Lovechild” was created in partnership with Carolyn Rafaelian’s Metal Alchemist brand.
Hampton discussed how Helzberg is improving the customer experience and why it was inspired by the company formerly known as Dunkin’ Donuts.
The group will host several curated events and an exhibition of designer jewelry made with Peruvian gold traceable to the miners’ names.
The collection honors the 50th anniversary of Dolly Parton’s “Love is Like a Butterfly” song, which shares a birth year with Kendra Scott.
This year’s theme asks designers to take inspiration from classic fairy tales.
Senior Editor Lenore Fedow makes the case for why more jewelers should be appealing to nerds at the annual event.
The latest “Raiz’in” drop showcases a newly designed “Scapular” necklace and donates a portion of the proceeds to Make-A-Wish France.
No. 1 out of 100, the timepiece was created to mark Citizen’s 100th anniversary and will be auctioned off at Sotheby’s next month.
On the latest episode of “My Next Question,” two experts share best practices for store security during the holidays and year-round.
Sotheby’s sold the necklace, which potentially has ties to Marie-Antoinette, for $4.8 million to a woman bidding via phone.