Portero, a web site that auctions off authenticated pre-owned luxury items, announced that it raised $6.6 million in a second round of venture funding from LFE Capital, Compagnie Financiere Richemont and The Grosvenor Funds. Offering more than 180 brands of watches, handbags, accessories, jewelry and more, the site seems to trump itself up as a web-based equivalent of famed auctionhouses Christie’s and Sotherby’s — complete with resident brand and vintage experts. Portero’s verification process is of special importance, apparently, as the market for luxury goods of this caliber is rife with counterfeiting.
This recent investment brings the New York-based company’s total capital to $10 million. It did not say how it planned to allocate the round.