Web Site for Rich to Buy and Sell

This is a rush transcript from "Your World With Neil Cavuto," November 23, 2009. This copy may not be in its final form and may be updated.

STUART VARNEY, GUEST HOST: With tax hikes in health care bills looming, here is one business that could really start booming. Call it eBay for the mega-rich. On, they can unload mansions, yachts, resorts and a whole lot more.

Quintin Thompson, co-founder of, joins me now.

Good to see you, sir.


VARNEY: I want to know how you get into this What is the dollar amount that I have got to have before I can get into this?

THOMPSON: Well, one of the — one of the main requirements for our membership, Stuart, is to be vetted before...


THOMPSON: ... you are allowed membership. So, we look for our members to be able to provide, one, positive identification as to who they are, because, again, we're doing with the Internet.

VARNEY: OK. OK. How much? Quintin — come on, Quintin.


VARNEY: How much have I got to have?

THOMPSON: We look — we look to pre-qualify members that have at least a $2 million liquid asset, you know, at least $2 million in liquid assets internationally.

VARNEY: OK, $2 million international liquid assets, and I'm in. Got it. OK.


THOMPSON: You're in.

VARNEY: OK. I want to put up on the screen a whole series of items which you have or about to have on the

I'm going to start with a Mexican resort. Now, I believe this is — this is on your exchange right now? I could — if I have got the money, I can bid on this thing. I mean, what is it, $75 million?

THOMPSON: Yes, it is, actually. I — and I — and, if you had a money, I would definitely tell you to go for it.



Now, I'm just kind of listing out the number, the kind of thing that is on your exchange. That's a Mexican resort, $75 million.

THOMPSON: Yes, it is.

VARNEY: Next case, we have got a very large yacht. Describe it for us, please, Quintin.

THOMPSON: Well, there's a — there's a — one of our brokers has a very high-end yacht that they are looking to find a new home for. It's — I believe it has a listing of 79 — $49 million, I believe, is the asking price for that particular asset.

VARNEY: OK. All right.

OK, Quintin, let's suppose you get lucky. You list thing on You sell it for $50 million, let's suppose. How much do you get?


VARNEY: What's your cut?

THOMPSON: Well, you know, we don't want to get into specifics as to...

VARNEY: Oh, I do. I do. I do.


VARNEY: Well, give me a number. Is it 1 percent? Is it 2 percent? Is it 10 percent or less? Give me a ballpark number.

THOMPSON: Well, the ballpark, it ranges. It ranges between 1 percent and 5 percent, depending on the particular asset that is listed.

VARNEY: OK. OK. How about a Gulfstream jet? We're going to put it on the screen. Looks nice. Looks fancy. An awful lot of money.





VARNEY: How much?

THOMPSON: It was all — it is all of those things, Stuart.

VARNEY: Now, do I — do people bid, literally competitively bid on these things, just like on eBay?

THOMPSON: You know, one of the — you know, one of the things that we — you know, we get asked that a lot. And it's — and it — it comes down to how the seller — how comfortable the seller is listing a particular asset.

If they are comfortable with listing an asset say at a — you know, below fair market value, where they want to actually create bidding — you know, kind of the excitement that goes along with bidding on assets or in any type of bidding situation, you know, the adrenaline rush, you know, they list these things appropriately.

However, if you have...

VARNEY: Yes, now, this is the one I wanted. This is the one I wanted to see, because this, I believe, is A-Rod. No, it's not. It's not.

I want to show you something else.


VARNEY: I want to show you a 27-karat yellow diamond, OK?


VARNEY: I imagine that business is pretty good. Have you had a lot of bids for this kind of thing?

THOMPSON: We have, because one of the things that we're able to do is tap into the international luxury market.

So, even though things may be in a slower recovery here in the United States, we have other markets that we service that, you know, things are going along fine.


I wish you luck. It looks like some very interesting properties right there on

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