# Loveseat.com

Online Vintage Furniture Auction

## Elevator pitch
Loveseat.com is a thriving local online auction marketplace in San Diego & Los Angeles.  Today we are selling over 2,000 pieces of furniture and decor on a monthly basis.  We are raising money to scale up our operations in our current markets as well as to expand geographically, ultimately to every city in the United States.

- Canonical URL: https://wefunder.com/loveseat
- Entity ID: wefunder:company:16807
- Last updated: 2026-06-22T05:02:55Z
- Generated at: 2026-06-22T22:18:34Z

## Quick facts
- Selling 500+ pieces of furniture each week. 
- 96% of items sell in 1 week at an average price of $55.
- Solid founding team - Wharton / Venmo (exit) / Ticketleap (exit).
- 61% of bidders repeat monthly.
- Take rate is 68% of Gross Merchandise Sales.
- Market opportunity north of $1b annually.
- Nearly 25% of consignors have participated in 3+ auctions.
- 1500+ bidder registrations monthly.

## Active fundraises
- wefunder:fundraise:27781: 4(a)(6) successful (USD)
- wefunder:fundraise:11946: 4(a)(6) successful (USD)

## Story
Selling used furniture and other large items is a process full of friction. Marketplaces like Craigslist make it somewhat easy to sell an item or two locally, however, if you have many items to sell or don't have much time, it quickly becomes very difficult and turns into a job.In our prior format as a used furniture ecommerce business, we bought tons (literally) of furniture from individual sellers. Through this experience, we discovered there is an enormous liquidity problem that no one is addressing.Liquidating home furnishings is a major challenge for people every day - downsizing a whole house, big moves, estates and retail liquidations. The problem extends well past furniture into many categories of items that are difficult or cost prohibitive to ship.Through our prior experience as a buyer, we also spent countless hours at large in-person auctions. Although these auctions are effective, they aren't very consumer-friendly and primarily cater to resellers. We’re bringing this low-tech local auction business model online and making it approachable for anyone to participate as a buyer or a seller.We believe this a huge untapped category of ecommerce that is over $1b annually.The Loveseat TeamChris Stanchak CEOWharton, TicketLeap (Exit) FounderJenny Stanchak CTOWharton, Deutsche Bank, Venmo (Exit) Engineer #7How Loveseat WorksOur auction format makes it super easy for sellers to liquidate any number of used goods. All auctions are held out of our warehouses, and our team handles all the work of taking professional photos, measuring and listing the items online. Our bidding software is built specifically with the everyday buyer in mind, which maximizes cash value for our sellers and ensures almost 100% of our items sell in 1 week.The Seller ExperienceApply to consign by uploading photosGet approved in under 24 hoursSchedule a paid pickup (or drop off for free)Receive payment in 2 weeksThe Loveseat ProcessTake professional studio item photosCreate item listings on Loveseat.comGroup items in auctions published every weekStage items for an in-person previewThe Buyer ExperienceFavorite items on our websitePreview items in our warehousePlace your winning bid onlinePick up your wins (or use 3rd party delivery)

## FAQ
1. **What is the exit strategy?**
   - Thank you so much for the question! Our vision is to be acquired by a strategic buyer. Companies buy startups because they solve a problem for them. Amazon has the most robust ecommerce operation on the planet. The company is constantly seeking and acquiring its way to the next untapped frontier, whether it be shoes, diapers, grocery stores, or furniture. https://www.nytimes.com/2017/03/25/technology/amazon-wants-to-crush-your-store-with-its-technology-might.html Local is an integral part of ...
2. **Since you've had three previous priced rounds, why use a SAFE this time rather than another priced round? Also, are you using the new dividend/profitability trigger Wefunder recently introduced to their standard SAFEs?**
   - Thanks for the question! We had two prior priced “Series Seed” rounds. These were traditional rounds with accredited angel investors. The reason we went with a SAFE for this round is that we want to keep the option open for a traditional VC round in the future. Sometimes having a very busy cap table with lots of smaller investors can be a detriment to an institutional process. We are using the traditional WeFunder SAFE format. The SAFE feels like a great instrument to allow smaller investors ...
3. **When is the fundraising cutoff date?**
   - We have not yet established a firm cut off date. It's expected to be early 2018.
4. **Hi Chris! Interesting business but I have a few questions. [1] How do the unit economics look like? For something like vintage furniture, how do you ascertain the value to both pay and later sell it on? [2] For the vintage furniture you acquire, do you typically have to spend ...**
   - Thanks for the questions, Edwin! [1] The unit economics are great. Our average sale price is around $185 (after discounts and markdowns) and our average purchase price is around $55. Our product margin has been consistent at about 70%. We have been selling thousands of items monthly, so we have a large data set of types of furniture, brands and condition. From this data set we are able to estimate appropriate purchase price and sale price. Additionally, we have buyers who are experts in appra...
5. **Hi Chris, Do you have a current eComm Warehouse Management Software (WMS) solution in place to sell one of a kind furniture? Do you even need one? How do you keep from overselling the single item (SKU) if you're offering it on your Loveseat site, eBay, Amazon, Houzz, Wayfair, ...**
   - Hi Bob, Our warehouse management system was purpose-built in house. The system has native mobile components as well as web components used by all levels of our staff (buyers, road team, warehouse team, etc.). It contains inventory data (price, location, age, etc.) as well as work queues for all levels of our staff. This reduces our management overhead as most tasks are queued by the platform itself. This all syncs up with our customer-facing ecommerce website. Behind the scenes, the website h...

## Team
- Chris Stanchak (Cofounder & CEO)
- Jenny Stanchak (Cofounder & CTO)

## Q&A
- Q: how to start wood carving as a beginner?
- Q: Hello other investors in Loveseat, you might be interested to read the new in this link https://www.businesswire.com/news/home/20220316005036/en/Loveseat-Raises-7M-in-Series-A-Funding-to-Revolutionize-the-Returned-Home-Goods-Marketplace#:~:text=AUSTIN%2C%20Texas%2D%2D(BUSINESS%20WIRE,Gabriel%20Weinberg%2C%20and%20Kal%20Vepuri. . Has anyone been in contact with the management because they don't communicate on the wefunder platform? Maybe we can create an offline group to communicate with the management and protect the interest of wefunder investors. If interested please send an e-mail to boudewijn.berendsen@gmail.com.
  - A: Hi Boudewijn, I just emailed an update to all WeFunder investors on our round.
- Q: I wanted to withdraw my investment . Let me know what is the process.
- Q: Would it be possible to get an update on how things are progressing?
  - A: Hi Nathan, I just emailed an update to all WeFunder investors.
- Q: how is it going ? regards
  - A: Hi Glenn, I just emailed an update to all WeFunder investors.
- Q: Hi, I want to start by thanking you for sharing your financials and COH for May 20th. Also, thanks for sharing some key monthly financial avgs. state below. It appears that renvenues from 2018 to 2019 dropped significantly from close to $2M down to $1M. In your financial updates on this site you mention avg. revenue of $170K/month. Also cited are the avg. monthly COGS and operational cost of $80K and $70K respectively. My questions are as follows: Where are we net avg. profits for the same period? If the net profits are still negative, what sort of projections/timeline/plan are we looking at to get to profitability? Thanks for answering my questions in advance and wish you all the best!
  - A: Thanks for your question.  We transitioned the business from a retail format to an auction format in late 2018.  This resulted in a revenue reduction (as we expected) in 2019 along with a significant operating expense reduction.  You can see our net loss was significantly lower in 2019.  Revenues have grown nicely in 2020 (now above 2018 levels) and operating expenses have continued to stay low.  As a result, the company was profitable Q1 2020 and we expect profitability in Q2 and beyond.
- Q: Under financial It appears that there is current monthly loss of only about $15,000 with revenue of $123,000 and cost of inventory $34,000 and management fees of $104,000. What does the management fees consist of including salaries of the top executives.
  - A: Hi Stevan,The $104k referenced is total operating expenses, not executive pay.  We have improved the operational efficiency of the business and in our most recently closed month, Oct. 2019 (which was profitable), total operating expenses were only $61k.  We do not disclose executive pay publicly, but compensation is below market rates relative to experience/backgrounds.  Executives are primarily incentivized via the long term value of founder equity.
- Q: Im would love to invest, however I am unclear how my ROI will be calculated and paid out. And I am unclear how I can liquidate my investment should the time come. Please let me know the answer to those two questions.
  - A: Hi Wayne,Early stage investing such as this is a longer term play.  Since the company is currently private, there is no secondary market to sell shares.  Liquidity would be reached either during a sale of the company, a capital raise from an institutional investor, or via dividends paid out if the company is generating significant cashflows.  That being said, we'd love to have you join us and hope you can see the long term potential in what we are doing.
- Q: First off, let me say that this is a great idea. I don’t typically deal with Etsy and EBay because I’ve had some bad experiences with those platforms. Your services would bring a trusted broker to online auctions the way amazon did for online retail. So it does really solve a need. I would use your services right now if you were in my area. That brings me to my questions; what is your expansion strategy and what are your criteria for choosing follow-on locations? I’ve read a few of your posts and see that you are wanting to expand nationally, but I didn’t see specifics. I’ve read many stories about how Baby Boomers are leaving their estates to children who liquidate everything and how that is effecting real estate prices and will only become more severe over the next two decades, particularly in the northeast. I could see where that would be a generational opportunity in estate auctions if you are positioned correctly when it peaks. Also, areas with large military populations would be good (there are always moving sales because of the weight restrictions in the Joint Travel Regs). Personally, I think the National Capitol Region would be lucrative for you...and I could drop off about three truckloads and be done with it! Thanks for allowing us little guys the opportunity to invest in your business.
  - A: Hi Troy, Thanks for this great question. We have a plan for our national rollout. First, there are a couple pockets in Southern California where there is obvious opportunity that we need to fill in before we go anywhere else. Beyond that, we've done a study of the secondary furniture market nationally and have identified a few unique markets that are very promising. The capital region and the northeast in general has a lot of potential. I'm originally from Philly, so I know the area very well. San Diego is a military town and we've felt the positive impact that the transient military population brings to our business. This is indeed part of the opportunity we see as we scale it up. I'm glad you are thinking about investing. We see a huge greenfield opportunity in the secondary furniture / estate market. The "trusted broker" concept is exactly what we're working to create because right now the market is broken. Creating a 2-sided marketplace that has network effects is the key to making this work. That's what we have and we hope you'll join us.
- Q: Do you think you would ever expand loveseat to include grouping smaller value items to be bidded on together like an ebay lot?
  - A: Great question! Yes! We recommend our consignors to group lower value items together, but the process is still somewhat manual. We will continue to encourage this by giving consignors product features that make the process of creating lots easier.
- Q: Why did you change your whole biz model ? You have ruined the consumer experience with auctions and no delivery
  - A: Hi Simon, Thanks for the question. The primary reason for our shift is related to scalability. We didn't want to just be a better vintage store. We've always had our eye on creating a business that can be taken to a national scale. As we grew the prior ecommerce / retail model, we discovered increasing friction on the supply side and realized it wasn't going to scale quite as easily as we hoped. With our new auction model, we are solving an enormous liquidity problem for sellers - something we couldn't effectively do before (and the huge untapped business). The side effect is buyers get access to the best possible deals with an experience that is 10x better than a traditional in-person auction. The auction model isn't for everyone. That said, we've substantially grown our customer base and our weekly engagement has gone way up through the transition. We've gained a ton of folks who care primarily about "the hunt" and don't mind a low frills experience.
- Q: I saw the statement "While our current focus is on home furnishing, in the long run we expect to broaden our categories to anything that is used and non-shippable." What about potentially broadening to a group of smaller value items or bidding on a lot (in ebay terms) of smaller value items that may otherwise end up in the trash? Good example: recently I needed two 4 inch screws. The store only carried a box of 50 screws for 9$. So I used two screws and will probably keep the 48 screws left for a very long time because how often does anyone need 4 inch screws. I don't want to sell them on craigslist or facebook because the value relative to my time is so small. It would be attractive to drop off a bunch of small value items that get bidded on and leave my time at that. I guess in that sense my thought is a bit like a virtual yardsale. My thought is that it would compliment your used/non-shipable focus espeically if furniture is already being dropped off
  - A: I answered your more recent question on this. We think it's a combination of features on the website as well as warehouse processes to make creating lots easy. We have some great ideas on this, but I don't want to give anything away yet. ;)
- Q: Greetings Loveseat team - I appreciate the insight behind the company and have personally experienced the friction that the platform seeks to remedy. At this revenue level which serves as proof of concept, and the primary barrier to scale being real estate - have you had any interest from institutional VC; why are you seeking crowdfunding instead of moving straight to a substantial Series A?
  - A: Hi Scott, thanks for the interest.  There has been inbound interest from institutional investors.  We believe we will secure a better valuation and be able to more efficiently deploy institutional money once we "perfect" the operating model.  To us, this is producing solid metrics, repeatable acquisition on both sides of the marketplace, and profitability in all our markets.  We're really close right now and this is why we are only bringing in a smaller interim round.  Our expectation is this round of funding will be the last money in prior to a VC.  Let me know if you have more questions.
- Q: In doing research and looking at your website, I'm concerned about a few things. First - when I go to About Us, there are a bunch of titles such as "Management", "Delivery", etc that appear that they should be clickable links to see members of your team, yet there are none. Second - the blog on the website was last updated a year ago. I'm concerned about the lack of effort on the website after so many years in business.
  - A: Thanks, Brian. Good feedback. We can improve some of our marketing pages. All efforts have been on features for the new auction business but we'll circle back soon with some improvements on the info pages. These are relatively easy. Content marketing hasn't been a big channel for us which is why the blog doesn't have anything new. Worth updating with some new features coming. Thanks!
- Q: i'm very interested in the business model, and the website, but i'm a bit late, can i invest now?
  - A: Hi Faisal, Yes, the round has closed. Can you email me at chris[at]loveseat.com and let me know what size of investment you are considering? Thanks, Chris