REA Marketplace

[Topnotchsy]

Hey all,

I recently got an email from REA that they are creating a fixed price marketplace. I ended up sending them a few items that I thought would be a good fit.

Has anyone else sent in anything? What kinds of items did you send?

Edit: As I was typing this I got an email that it is launching in mid-March so I removed the question on that

[mrreality68]

received no information on it yet.

Like everything else never hurts to look into it and for them they are exploring other sources of revenue

[raulus]

My understanding is that a number of AHs have a private placement service that they offer, in exchange for a fee.

Naturally, that service is usually more like a pocket listing - the only people who know that an item is available are the handful of people who are likely to have the means and inclination to actually buy it.

But this could just be a natural extension of that service. Instead of only a select few knowing that a piece is available for a handsome price, now everyone can know about it, which in theory should increase the number of potential buyers, and therefore should increase the number of successful sales, and with it the commission earned for those sales.

As an added bonus, if a consignor gets tired of waiting for the right buyer to come along for the fixed price listing, then I'm sure they can easily switch gears and just list it in the next auction. And for the auction house, that's likely to be an added feature that the AH finds to be extra succulent.

[Neal]

I've had some luck with Heritage and buying directly from the owner, so I'm looking forward to seeing how REA handles their marketplace.

[JackR]

Thanks, yes, I submitted a 52T Ashburn PSA9 a month or so ago but haven’t heard anything from them since then. Glad to hear it seems to be moving along.

[oldjudge]

Why wouldn't you use the BST and save the fee?

[Exhibitman]

Originally Posted by oldjudge

Why wouldn't you use the BST and save the fee?

Audience share?

Trolls and tire-kickers?

Some people simply do not want to be the retailer?

[Snapolit1]

Originally Posted by Exhibitman

Audience share?

Trolls and tire-kickers?

Some people simply do not want to be the retailer?

It’s not like every pre war collector is on this board. Hard to believe I know.

[Topnotchsy]

Originally Posted by raulus

My understanding is that a number of AHs have a private placement service that they offer, in exchange for a fee.

Naturally, that service is usually more like a pocket listing - the only people who know that an item is available are the handful of people who are likely to have the means and inclination to actually buy it.

But this could just be a natural extension of that service. Instead of only a select few knowing that a piece is available for a handsome price, now everyone can know about it, which in theory should increase the number of potential buyers, and therefore should increase the number of successful sales, and with it the commission earned for those sales.

As an added bonus, if a consignor gets tired of waiting for the right buyer to come along for the fixed price listing, then I'm sure they can easily switch gears and just list it in the next auction. And for the auction house, that's likely to be an added feature that the AH finds to be extra succulent.

This is definitely focused on a broader audience. I sent a few items in. The price/value ranged, but they seemed happy to accept an item in the $300 range, so not exclusively focused on very high-end. (It was a graded Exhibits rookie card of a Hall-of-Famer, so it was a good fit for their market).

Originally Posted by oldjudge

Why wouldn't you use the BST and save the fee?

Their introductory fee is 5% and includes photographing and listing the items, so the price is very reasonable.

I like the BST area here but there is not a ton of action going on here.

I sent a few items that I feel like fits their clientele's interest well, and we will see how it goes...

[JimC]

Jay, one reason might be that unless the seller is extremely well known in the hobby some folks might be hesitant to buy an expensive card through BST. If REA/Memory Lane/Heritage or a known professional dealer (Howard Chasser, for example) is involved then the scammer risk is all but eliminated. Shipping and insurance are probably easier to handle through the pros too.

[vintagerookies51]

I asked them some questions about a month ago and never received a reply. Good to hear it’s moving along. Does it pretty much work by you just sending an item and stating your asking price and the lowest you’d be willing to take, and they take care of everything for a fee? What happens if it doesn’t sell?

[raulus]

Originally Posted by oldjudge

Why wouldn't you use the BST and save the fee?

Probably mostly people not wanting to adjudicate disputes for precisely who was the first to say: “I’ll take it”.

[babraham]

Originally Posted by raulus

Probably mostly people not wanting to adjudicate disputes for precisely who was the first to say: “I’ll take it”.

And then the subsequent thread about BST etiquette and the "Am I Wrong" question.

[Topnotchsy]

Originally Posted by vintagerookies51

I asked them some questions about a month ago and never received a reply. Good to hear it’s moving along. Does it pretty much work by you just sending an item and stating your asking price and the lowest you’d be willing to take, and they take care of everything for a fee? What happens if it doesn’t sell?

I sent them a list of items, which they approved. (Not sure how selective they are. I specified items that I thought were a good fit for their market.

They asked what prices I wanted and sent an agreement over for me to review and sign.

I shipped them the cards.

They are taking care of the rest. Items can be removed after 30 days if not sold (before for a fee). I can request that they adjust the price. And can request that they put it into an auction of theirs.