The Rise of a New Marketplace for Young Collectors
In the ever-evolving world of luxury and design, a new wave of entrepreneurs is redefining what it means to collect. Jesse Lee, founder of Basic.Space, has positioned himself at the forefront of this movement by creating an online marketplace that caters specifically to Gen-Z and millennial buyers. His approach emphasizes uniqueness, offering items that are not only rare but also reflect the tastes of a generation that values individuality and discovery.
A Curated Experience for the Modern Collector
Basic.Space was launched in 2019 as an invitation-only app, quickly gaining traction among young collectors who seek out one-of-a-kind pieces. The platform spans a wide range of offerings, from vintage cars to rare sneakers, furniture, ceramics, and objets d’art. What sets Basic.Space apart is its commitment to curation, ensuring that every item listed on the site is carefully selected to meet the standards of discerning buyers.
The platform’s initial launch featured just 100 hand-picked sellers, many of whom are influencers with significant social media followings. These sellers include boutique designers, pop culture figures like DJ Steve Aoki, and even notable names such as tennis star Naomi Osaka and the late Virgil Abloh. Their presence on the site adds credibility and draws in a diverse audience of potential buyers.
The Challenge of Defining Good Taste
As the market for art and design continues to evolve, so too does the definition of good taste. Traditional gatekeepers such as auction houses and mega-galleries are grappling with how to engage with younger audiences who have different preferences and shopping habits. For Jesse Lee, the answer lies in the idea that good taste is about finding something nobody else has.
This philosophy is reflected in the types of items available on Basic.Space, which includes everything from $30 candles to $500 vases and even a bejeweled $110,000 Casio G-Shock watch. The variety of offerings ensures that there is something for everyone, regardless of their budget or interests.
The Acquisition of Platform
In a move that highlights the growing influence of digital marketplaces, Jesse Lee announced the acquisition of Platform, a New York-based online art marketplace. This strategic move brings together two platforms that cater to similar audiences but serve different niches. While Basic.Space focuses on design and fashion, Platform initially offered emerging contemporary art, targeting entry-level collectors.
The acquisition of Platform underscores Lee’s vision for expanding his business empire and reaching new customers through in-person events and experiences. The co-founders of Platform, Bettina Huang and the children of David Zwirner, will remain involved in an advisory capacity, bringing their expertise and credibility to the newly merged entity.
Expanding the Reach of Design Miami
In addition to acquiring Platform, Lee’s company has also made significant moves in the world of design fairs. In 2023, Basic.Space acquired Design Miami, a major collectors’ fair with editions in Paris, Los Angeles, and Basel, Switzerland. This acquisition was seen as an opportunity to digitalize and reach younger audiences, with Basic.Space promising to introduce a robust e-commerce strategy.
However, Lee’s vision extends beyond the digital realm. He places a strong emphasis on face-to-face interactions with collectors, recognizing the value of in-person events in building relationships and fostering a sense of community.
The Global Influence of Collecting Trends
Jesse Lee’s perspective on collecting is shaped by his belief that cultural content is increasingly accessible to younger generations around the world. Unlike previous generations, today’s young people consume much of the same cultural content online, regardless of their location. This shared experience fosters a sense of global connectivity and influences collecting trends and aesthetic tastes.
Lee notes that the energy in cities like Seoul, Paris, and New York is remarkably similar, reflecting a world that is becoming smaller and more interconnected. This shift in perspective allows for a more inclusive approach to collecting, where boundaries between cultures and regions are less defined.
The Future of Collecting
As the landscape of luxury and design continues to change, the role of entrepreneurs like Jesse Lee becomes increasingly important. By focusing on curation, exclusivity, and the discovery of unique items, they are shaping the future of collecting for a new generation of buyers. Whether through online marketplaces or in-person events, the goal remains the same: to provide a platform where individuals can find and appreciate items that reflect their personal tastes and values.
In a world that is constantly evolving, the ability to discover something new and different remains a powerful draw for collectors of all ages. As Lee aptly puts it, “All of us yearn for the ability to discover something new and different.” This sentiment captures the essence of modern collecting and the ongoing quest for unique, meaningful experiences.
