[exgrv]

I believe that the prestige of a journal is mainly defined by the members of the editorial board. So if you can convince members of the editorial board of prestigious journals to resign and join your new open access journal, it can very rapidly become very prestigious.

That is what happened in machine learning in 2001, when forty editors of the journal 'Machine Learning', published by Springer, resigned to join the open access 'Journal of Machine Learning Research', which was created in 2000. Today, JMLR is much more prestigious than Machine Learning (impact factor of 3.42 v.s. 1.46 in 2012).

See http://en.wikipedia.org/wiki/Journal_of_Machine_Learning_Res...