Fanatics Collect has exciting news for sellers and collectors alike, as they announce the launch of a new Buy Now marketplace with a simplified fee structure. The aim is to help sellers maximize their earnings by offering lower fees and a more competitive environment for buyers.
One of the highlights of this new fee structure is the introduction of a 6% fee for listings sold for less than $120. This rate is incredibly low compared to industry standards, making it more profitable for sellers to list their items on the platform. The removal of the 20% buyer’s premium and bonus commission fees is a significant change that will have a positive impact on sellers’ earnings.
Under the new fee structure, sellers will earn the same amount on sales of $120 or more as they did previously. However, for sales under $119.99, sellers can now earn up to 94% of the listing price, compared to a maximum of 85% under the old fee structure. This increase in earnings is designed to benefit sellers immediately, with all existing listings automatically transitioning to the new fee structure without any need for price adjustments.
The Buy Now marketplace has undergone a redesign to enhance the discoverability of cards, reduce listing times, and simplify fees based on feedback from collectors and sellers. By eliminating the 20% buyer’s premium and bonus commission, sellers are encouraged to create more competitively priced listings, which in turn, improves the diversity and quality of options available to buyers.
To ensure a fair and competitive marketplace, listings priced more than 20% above fair market value will incur a 15% seller’s fee instead of the standard 6%. Additionally, the minimum fee of $3 for Buy Now sales has been removed, allowing sellers to list items for as little as 50 cents, opening up more opportunities for sellers of various price points.
In addition to the lower fees, the new Buy Now marketplace also facilitates faster transactions. When collectors make purchases through the Fanatics Collect app, they pay immediately, enabling sellers to receive their payments quickly and buyers to add to their collections without delay.
For sellers who may not wish to sell under the new fee structure, they have the option to delist their items at any time. If assistance is needed, sellers can reach out to their sales representative or the Collector Experience team for support.
The launch of the Buy Now marketplace is a significant part of the overall Fanatics Collect initiative to enhance the buying and selling experience for all collectors. Sellers and collectors are encouraged to explore the new marketplace today and take advantage of the simplified fees to maximize their earnings on every sale. Happy collecting!
