Fanatics Collect, a leading platform for collector’s items, has made an exciting announcement with the launch of its new Buy Now marketplace. This innovative marketplace offers sellers a simplified fee structure, ultimately helping them maximize their earnings on each sale.
One of the standout features of this new fee structure is the introduction of a low 6% fee for listings sold for less than $120. This rate is impressively one of the most competitive in the industry, replacing the previous 20% buyer’s premium and bonus commission fees. The goal is clear – to make it more profitable for sellers by allowing them to retain a larger portion of the sale amount.
Interestingly, sellers will continue to earn the same amount on sales of $120 or more as they did previously. Under the new fee structure, sellers stand to earn up to 94% of the listing price on sales under $119.99, a significant increase compared to the previous maximum of 85%. This change is designed to immediately benefit sellers, as all existing listings will automatically transition to the new fee structure without necessitating any adjustments to prices.
The revamped Buy Now marketplace has been thoughtfully redesigned to enhance the discoverability of cards, reduce listing times, and streamline fees, all based on valuable feedback received from collectors and sellers. By doing away with the 20% buyer’s premium and bonus commission, sellers are encouraged to create more attractively priced listings, ultimately enriching the diversity and quality of options available to buyers.
In a move to uphold fairness and competitiveness, listings that are priced more than 20% above fair market value will incur a 15% seller’s fee, as opposed to the standard 6%. Furthermore, the minimum fee of $3 for Buy Now sales has been eliminated, enabling sellers to list items for as little as 50 cents, catering to a wide range of items and prices.
Speeding up transactions is another key benefit of the new Buy Now marketplace. Collectors purchasing items through the Fanatics Collect app will make immediate payments, ensuring that sellers receive their funds promptly and buyers can swiftly add to their collections.
Sellers who may not wish to operate under the new fee structure have the flexibility to delist their items at any time. Additionally, for guidance and assistance, sellers can reach out to their designated sales representative or the Collector Experience team for support.
The launch of the Buy Now marketplace marks a pivotal moment in the Fanatics Collect journey, focusing on improving the buying and selling experience for all collectors. Embrace this new marketplace today to capitalize on the simplified fee structure and boost your earnings with every sale.