Jubilee is an art sales platform that uses lending and debt collection as a machine for the redistribution of property and money. Whereas traditional lenders foreclose on bare necessities when the borrower is unable to make interest payments on a loan, with Jubilee, the item you buy can be taken away by anyone spending more than you. That "more" is the interest payment, and if you don't match the new offer, you have to pass it on.
Jubilee is for everyone who wants to challenge what it means to own in a culture that keeps negligently consolidating its resources.
Sharable future proceeds (sfp) are a resale royalty that must be reassembled by an item's borrower before its legal title can be transferred. Sfp can be traded (through an entanglement), and are equalized on both sides to ensure reciprocal outcome.
Post an item that you own and would like to sell. 10% of its price is converted to sfp. They are free.
When you find an item you like, fill out the offer form and add your shipping details. The seller will approve or decline your offer. If approved, you will be asked to complete payment. When payment goes through, the seller will mail the item to the shipping address you provided in the first step. We handle legal filings and enforcement. When you receive the shipment, mark the item as received, and it will be added to your profile. After six months, the item will be reopened for lending to new borrowers.
All sellers have three days to respond to offers that meet their item's listed price. If no action is taken, the item status is changed to "missing" and we conduct a follow up.
Borrowers are free to obtain profit from display of the item, so long as they do not lend it, use it as collateral, or cause it to be changed or damaged. Copyright remains with the item's original creator. You are not free to sell the item outside of Jubilee unless you also manage to acquire all of its sfp.
2.9% gross + $0.30 goes to Stripe, 10% gross + $6 goes to Jubilee, 10% gross goes to the sfp holders, and the remainder goes to the seller. Interest payments are split 70/30% between sfp holders and Jubilee. Borrowers who resell their items get their initial deposit back in full so long as they do not resell the item for less than its listed price. Read our Payments Policy
for more detail.
The seller picks the initial price of an item. Every subsequent sale increases the price by 25%. Price increases beyond this are voluntary attempts to gain or keep possession.