Amit, a man of many professional hats, set off on a wonderful journey with tezbid.com in the field of numismatics, where history and passion intersect. The hobby of coin collecting, known as numismatics, may seem to be unrelated to journalism, financial markets, and public policy, but for Amit, it was a way to combine his business savvy with a lifelong passion for the past.
A Fragmented Numismatics World
India offers a treasure trove of coins for collectors because of its lengthy and varied history. However, India’s numismatics industry is still incredibly disorganized and fragmented. It’s a location where you might run into a coin with a thousand years of history and discover that it costs less than a cup of coffee. While alluring, this abundance presents a special challenge for collectors looking for particular jewels. Antique coins require a different strategy to sell than groceries do.
Tezbid.com was created not only as a business endeavor but also as an expression of Amit’s love of numismatics and a response to the difficulties he encountered as a collector. Amit joined up with his father, Mr. TP Bhandari, in an amazing display of purpose and desire to set off on this quest. Even though they graduated at different times, Amit and his father both have MBAs from IIM Ahmedabad, demonstrating their mutual dedication to this project.
A Passionate and Purposeful Journey
Amit has been a coin collector for more than three decades, and his passion for history is what motivates him. Each coin has a unique tale to tell, according to Amit, providing a window into India’s dynamic political environment. Coins served as historical markers and were, in fact, a mirror of their era. An indication of India’s economic sway just a century ago was the fact that many nations bordering India once linked their currencies to the Indian rupee. Tezbid.com sought to educate coin collectors about the historical significance of each coin in addition to meeting their material requirements.
A Fix for Numismatic Problems
Tezbid.com was created to help currency aficionados with two major problems: the lack of availability of certain coins and the necessity for reliable information. Tezbid might provide a wider selection of coins with an online-only business strategy as opposed to conventional brick-and-mortar businesses. The distinction between each coin, based on the mint, date, special marks, and condition, provided a problem that couldn’t be solved by big-box stores. Tezbid excelled at this subtle strategy. Additionally, collectors were interested in the currency’s history and setting as well as the coin itself. Tezbid.com did a fantastic job of offering this complete experience.
Making a vision a reality
When Tezbid.com launched in May 2019, it offered a wide range of Indian coins dating from before the advent of Christianity to the present. Collectors frequently contacted Tezbid for information about particular coins or banknotes, demonstrating that it was more than just an internet store. With almost 75% of its sales coming from loyal clients, Tezbid impressively reached profitability in its first year of business.
Thriving Despite Obstacles
Even though the COVID-19 outbreak had a devastating effect on many firms, Tezbid.com’s online-only business model held up well. During lockdowns, people turned to their hobbies for comfort, and Tezbid.com became a popular site. Its success was largely attributed to its emphasis on sharing both items and customer experiences. Tezbid, which operated more like a hobby than a business, kept a tight cost structure from the beginning.
A Special Proposal
The distinctive feature of Tezbid is its focus. Coins from the Indian Princely State of Kutch and Indo-Portuguese coins are Amit’s main numismatic interests. These two regions have a rich history, and the coins from these regions show a vibrant commercial past. Compared to its rivals, Tezbid.com has the broadest selection in these markets. Additionally, Tezbid distinguishes itself from traditional vendors with its dedication to engage with collectors beyond transactions, imparting expertise, and fostering trust.
Since its launch four years ago, Tezbid has not only endured but also flourished. Its dedication to quality and client engagement was demonstrated by its profitability in the first year. The expansion was a logical outcome of its commitment to the numismatic community.
Investment and growth
The majority of Tezbid’s journey has been self-funded, and because of its stable growth trajectory, finding outside funding has not been necessary. Although Tezbid cannot accommodate every collector, it strives to give them the best experience possible.
Considering the Future
The journey of Tezbid is far from ended. No matter whether a collector decides to make a purchase or not, its goal is to be the most dependable source of old Indian coins and accurate information. Tezbid is committed to conserving India’s rich coinage heritage for future generations as it works to unite history and passion via numismatics.