A couple of years into building Luv Luxe, I had the opportunity to attend a live U.S. Treasury auction. These auctions don't happen often, and getting access isn't as simple as you’d think. You have to be invited, approved to bid, and go through a detailed vetting process. The entire experience felt like something straight out of a movie.
The merchandise being auctioned wasn't your typical estate sale inventory. These were assets seized by the government from individuals involved in financial crimes. Think Medicare fraud, embezzlement, money laundering, tax fraud, and other cases where large amounts of money or luxury goods were confiscated.
As I walked into the auction room, I immediately realized this was unlike any buying experience I'd ever had. The room was filled with seasoned buyers, collectors, dealers, and investors, all carefully studying the inventory and calculating their bids. There was an intensity in the air that was impossible to ignore.
Just a few years earlier, I had started Luv Luxe with only $3,000 to my name. I was tracking sales in a small orange notebook and doing everything possible to stretch every dollar of inventory. Now I was sitting in a room bidding alongside some of the biggest buyers in the country for luxury assets seized by the federal government.
The inventory was incredible. Designer handbags, fine jewelry, luxury watches, and high-end accessories lined the preview area. Some pieces had fascinating stories attached to them, while others arrived with very little information beyond their authentication and seizure documentation.
What I learned quickly is that these auctions aren't about getting lucky. They're about being disciplined. It's easy to get caught up in the excitement of live bidding. I'll admit I was out of my comfort zone and eager to make my mark. At one point, the auctioneer actually stopped the auction and said, “Paddle 215, you're trying to outbid yourself!” I was determined to win the inventory. It was one of my first experiences buying in bulk.
One of the most memorable parts of the day wasn't even what I bought. It was realizing how far Luv Luxe had come. Sitting in that room, surrounded by experienced buyers and alongside my boyfriend, who believed in me from the beginning, I could see the dream of Luv Luxe slowly becoming a reality.
Thanks for being here!
Xx
Syd