#secondary-market

#secondary-market

The contraction of the global art market stretched well into 2025, with the challenging macro environment cited as a key reason behind the closures of several prominent businesses. Middle market powerhouses Blum (with locations in Los Angeles, New York, Tokyo) and Clearing (New York, Los Angeles) both shut shop, while stalwart New York dealerships Sperone Westwater, Tilton and Kasmin also announced their closures.

Collectible card games were the most-purchased secondhand product category for Gen Z in the US on eBay so far this year, according to data from the e-commerce platform. The trend was especially clear among Gen Z men, who collectively shifted spending from electronics to trading cards and other collectibles, according to eBay. Trading cards were also the top secondhand sales category among Gen Z women on the platform, followed by books and cameras.

In all, the study calculates that US consumers received a record $1.59bn in value through mobile device trade-ins, representing a 46% year-on-year increase. This comes after a first quarter of 2025 that saw tech consumers receive $1.24bn from mobile trade-in and upgrade programmes, a 40% increase from the same quarter a year earlier, and $1.34bn in Q2 2025, the strongest second quarter on record for smartphone trade-ins.

The Covid-driven boom came at the end of a decade of steady growth and amplified already unrealistic expectations. Whisky is notoriously difficult to forecast, and many producers were caught out by the sudden spike in demand. Secondary market prices subsequently soared, and several major brands tried to capitalize by ramping up production and raising prices to match auction values. Both moves have proved costly.

Overlays, or extra rules layered on top of standard guidelines, help lenders manage risk and ensure loans meet investor expectations. Those selling into the secondary market can use overlays to meet multiple investor standards, while portfolio lenders can align the technology with in-house credit policies. Our new underwriting overlays feature gives lenders the ability to instantly encode their own judgment and policies into Friday Harbor, said Theo Ellis, CEO and co-founder of Friday Harbor.

Britain's leading banks have warned the government against capping the resale prices of concert and event tickets, claiming the move would push ticket touts and fraudulent sellers onto unregulated social media platforms. In a submission to ministers, UK Finance, the trade body representing Lloyds, NatWest, HSBC, Barclays and more than 300 other financial institutions, said proposed ticket price caps could backfire by driving "tout activity" away from regulated platforms such as Viagogo and towards sites like Facebook Marketplace, where fans are more exposed to scams.