Fanatics Collect has unveiled an exciting update with the launch of its new Buy Now marketplace, featuring a revamped fee structure to boost sellers’ earnings and streamline the buying process for collectors.
The centerpiece of this update is the introduction of a flat 6% fee for items sold for under $120, marking one of the most competitive rates in the industry. This change replaces the previous 20% buyer’s premium and bonus commission fees, ensuring sellers can now earn more from their sales.
For items sold at $120 or above, sellers will continue to earn the same amount as before. However, the new fee structure allows sellers to pocket up to 94% of the listing price for items sold under $119.99, a considerable increase from the previous maximum of 85%. This adjustment is designed to have an immediate impact on sellers’ earnings, with existing listings seamlessly transitioning to the new fee structure.
The Buy Now marketplace has been redesigned based on feedback from collectors and sellers to enhance card discoverability, reduce listing times, and simplify fees. By eliminating the 20% buyer’s premium and bonus commission, sellers are encouraged to price their listings more competitively, enriching the range and quality of options available to buyers.
To encourage fairness and competitiveness, listings priced more than 20% above the fair market value will incur a 15% seller’s fee instead of the standard 6%. Moreover, the previous $3 minimum fee for Buy Now sales has been abolished, allowing sellers to list items for as little as 50 cents.
In addition to the financial benefits, the updated marketplace also facilitates quicker transactions. Through the Fanatics Collect app, collectors can now pay for their purchases immediately, enabling sellers to receive payments faster and buyers to enjoy their new additions to their collections promptly.
For sellers who may not wish to proceed under the new fee structure, the option to delist their items remains available at any time. They can reach out to their sales representative or the Collector Experience team for assistance with this process.
The introduction of the Buy Now marketplace is a pivotal step in the ongoing Fanatics Collect launch, with a focus on enhancing the overall buying and selling experience for all collectors. Don’t miss out on exploring the new marketplace today to leverage the simpler, more lucrative fee structure and maximize your earnings on every sale!