About to ditch something that's worth more than $100 because you don't have the time or know-how to sell it? Hold on, because a budding Cohasset entrepreneur will sell it for you — and give a portion of the proceeds to a good cause.
Mike Filbey is the 21-year-old founder and CEO of Cbay, which lists clients' goods on Craigslist and Cbayonline. Sixty percent of the proceeds go to the client, 20 percent to Cbay and 20 percent to Wellspring, a Hull charity.
"The big value we offer is we save people time," said Filbey, a University of Wisconsin-Madison junior who started his sales career at the tender age of 10 by listing his discarded Beanie Babies and Pokemon cards on Amazon.com. "We do all the work for them."
Filbey's Bay State volunteer, Tim Smith, photographs each item, and then Cbay researches its market value, lists it online and coordinates a time for the client and buyer to meet. If there is no sale, there is no charge.
It's a formula that appears to be working, with more than $32,000 in sales logged since 2011, when Filbey founded Cbay. The "C" stands for cash, charity and college.
And although the name is only a letter away from online auction giant eBay, he says legally it's not a concern because its domain name, Cbayonline, is clearly different.
About 18 months ago, Katie Daly of Hingham turned to the company because she had a gazebo she wanted to sell but had qualms about selling it online.
"You don't know who to trust in this world," said Daly, 42, "but Michael came over to our house, and my husband and I were blown away. He's just a lovely kid."
After the gazebo fetched about $900, she turned to Cbay to sell other items and began referring friends to the company.
Brendan Brady of Plymouth was combing Craigslist for a swingset for his daughter a few weeks ago when he found one posted by Cbay for $600.
"Anybody can sell on Craigslist," said Brady, 32, "but I think (Cbay) gives exposure to a higher-quality item because some of the money is going to a good cause."
So far, Wellspring has received more than $7,200 from Cbay sales, money it has used for its food pantry and GED and fuel assistance programs, said Lisa Cronin, its part-time operations manager.
"We have limited resources as far as fundraising goes," Cronin said. "So to have a donation like that come in is fantastic."
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