REA Marketplace Open

[raulus]

Originally Posted by BobbyStrawberry

They take a cut of the sales don't they?

Yes, although if you ask for your items back, then they obviously didn't sell.

Really a question of whether there should be a handling fee associated with the work that REA is doing to list your items and maintain the platform for stuff that doesn't sell, or whether REA should just eat those costs.

Or better yet, they could always shift those costs by bumping up the fee that they charge on items that do sell to cover any cost of their work on items that don't sell. Although consignors who are actually selling stuff through the marketplace would probably feel like they shouldn't be subsidizing the freeloaders whose stuff isn't selling.

I think the whole purpose of the $5 fee is just to keep people from sending in lots of stuff, asking for the moon for it and then turning around and pulling it right back out when it doesn't sell. In that case, REA has real costs to provide that service, but little or no opportunity to get paid for it.

[BobbyStrawberry]

Originally Posted by raulus

Yes, although if you ask for your items back, then they obviously didn't sell.

Really a question of whether there should be a handling fee associated with the work that REA is doing to list your items and maintain the platform for stuff that doesn't sell, or whether REA should just eat those costs.

Or better yet, they could always shift those costs by bumping up the fee that they charge on items that do sell to cover any cost of their work on items that don't sell. Although consignors who are actually selling stuff through the marketplace would probably feel like they shouldn't be subsidizing the freeloaders whose stuff isn't selling.

I think the whole purpose of the $5 fee is just to keep people from sending in lots of stuff, asking for the moon for it and then turning around and pulling it right back out when it doesn't sell. In that case, REA has real costs to provide that service, but little or no opportunity to get paid for it.

That's certainly a fair assessment. Right now are they letting anyone put anything up for any price, or do they have some restrictions? (I see that it has to be graded cards)

[philliesfan]

Besides graded, the minimum value is $100.00 and must be on a minimum of 30 days.

[raulus]

Originally Posted by BobbyStrawberry

That's certainly a fair assessment. Right now are they letting anyone put anything up for any price, or do they have some restrictions? (I see that it has to be graded cards)

My understanding is that they reserve the right to decline stuff that is massively overpriced. At least, that's what they told me when I called to chat with them about adding some of my stuff to the marketplace.

Although that's always going to be a judgment call, and it's not clear to me how aggressively they've applied that screen so far.

Some might argue that some of the existing items are generously priced (including some of my stuff that is currently on the marketplace), but certainly not all of them.

I suspect they were just wanting to avoid complete and utter nonsense that would make the whole enterprise look like a waste of time, like someone asking $500k for an 87T McGwire in PSA 8 or something.

[BobbyStrawberry]

Originally Posted by philliesfan

Besides graded, the minimum value is $100.00 and must be on a minimum of 30 days.

Thanks Bob. I suppose that cuts down on the junk submissions.

[jayshum]

So the $5 charge is just a listing fee if the item doesn't sell and you decide to get it back from them. Seems reasonable to cover their expenses for listing it. Does eBay still have a listing fee? I haven't sold anything there in a long time.

[BobbyStrawberry]

Originally Posted by raulus

My understanding is that they reserve the right to decline stuff that is massively overpriced. At least, that's what they told me when I called to chat with them about adding some of my stuff to the marketplace.

Although that's always going to be a judgment call, and it's not clear to me how aggressively they've applied that screen so far.

Some might argue that some of the existing items are generously priced (including some of my stuff that is currently on the marketplace), but certainly not all of them.

I suspect they were just wanting to avoid complete and utter nonsense that would make the whole enterprise look like a waste of time, like someone asking $500k for an 87T McGwire in PSA 8 or something.

I've noticed most items appear to me to be overpriced. A few of them I swear were on eBay very recently for lower (but still too high) prices and seem to have been moved over...

[BobbyStrawberry]

Originally Posted by BRoberts

Great to see you posting again. Welcome back.

Hi Bill, thank you for the kind message

[raulus]

Originally Posted by BobbyStrawberry

I've noticed most items appear to me to be overpriced. A few of them I swear were on eBay very recently for lower (but still too high) prices and seem to have been moved over...

No doubt, there's always the risk of becoming the new and improved eBay museum.

I suspect REA would prefer to avoid that whenever possible, but to some extent it might be challenging to completely avoid it, simply because the format lends itself to sellers asking for generous prices, and buyers not feeling any urgency to pay those prices without some trigger, like an auction that is ending next week that would force them to actually decide how much they are willing to pay, or else risk losing the item to some other buyer.

[3-2-count]

If the listed price seems high to an interested party, simply make an offer.

That option is available. I currently have items listed on the Marketplace and have sold a couple as well having accepted the buyers lower offer.

[Orioles1954]

Originally Posted by theshowandme

Sent the following in today

We will see

That Simmons is gorgeous.

[ajjohnsonsoxfan]

Originally Posted by jayshum

So the $5 charge is just a listing fee if the item doesn't sell and you decide to get it back from them. Seems reasonable to cover their expenses for listing it. Does eBay still have a listing fee? I haven't sold anything there in a long time.

That was my first impression as well. $5?! Seems very inexpensive.

[theshowandme]

My 12 cards have been up for about 24 hours

Sold one

Offers coming in for others

Cannot complain

[molenick]

I don't see details for listing on the website. They may be there but I can't find them.

From what I gather it is:

• free to list but must list for at least 30 days
• $5 plus postage per item if you want an item back after 30 days
• the price listed is the price that is paid by the buyer (no buyer's premium)
• offers can be made
• consignor gets 95% of the sale price
• some restrictions on what can be listed (must be graded, not unreasonably priced*, minimum price is $100).

* to be determined by REA and the consignor

Is that correct?

[tjisonline]

Dear REA reps

please add a option to filter out "sold" items and the ability to "watch" items.

[philliesfan]

molenick - You are correct. I could not find anything on the web site either. So I emailed them and got the response I got in post # 43 which confirms everything that you mentioned except the part about being reasonably priced. I did not see anything about that.
Bob

[molenick]

Thanks. I must have picked up the "reasonably priced" part from someone else's post...or maybe I just made it up.

[raulus]

Originally Posted by molenick

Thanks. I must have picked up the "reasonably priced" part from someone else's post...or maybe I just made it up.

Probably my post. And it’s probably less about being reasonably priced and more about not being grossly unreasonably priced. But you might argue there’s not a lot of daylight there.

I should also add that I’m pretty sure the 5% selling cost is promotional for 2025, and could rise in the future.

[theshowandme]

Copy and pasted directly from my REA consignor agreement

Consignor shall be responsible for setting reasonable prices on all consigned material listed on the Marketplace, and REA, at its sole discretion and in any manner that it sees fit, shall have the right to decline, pause, or otherwise delay any material deemed to be priced at a level unreasonably above market value. REA may, at its sole discretion and for any reason, choose not to offer part or all of the consigned
material at any time prior to or during the course of the Marketplace listing. All items are subject to a minimum listing period of thirty (30)
days. REA shall endeavor to list and make available all consigned material within three (3) business days of receipt. Consignor is responsible
for timely approval of Marketplace listings, and REA shall not be liable for any delays in Consignor approval. Any item requested to be
removed from the Marketplace prior to the expiration of thirty (30) days shall be subject to a 10% processing fee calculated off the highest
asking price for the consigned item. This fee shall be capped at five thousand dollars ($5,000). Any item requested to be returned to
Consignor after the expiration of thirty (30) days shall be subject to a processing fee of five dollars ($5) per item plus applicable shipping and
insurance.

[philliesfan]

Thanks for posting that Don!

[raulus]

There you go. I guess the prohibition on crazy prices is right there in the consignor agreement.

Naturally, the precise execution of the pricing rubric will be more art than science.

[theshowandme]

Another key detail I would like to point out

Before REA sent me my agreement to sign, I had to provide a spreadsheet of material and initial listing prices.

That spreadsheet was added to my agreement.

That spreadsheet determined level of insurance coverage on their end.

So, in a way REA is pre-screening material before they even offer you a consignor agreement.

I like this concept very much.

[raulus]

Originally Posted by theshowandme

That spreadsheet determined level of insurance coverage on both ends.

Not sure I follow what you mean by "insurance coverage on both ends" - particularly the "both" part. I read the agreement to suggest that REA has insurance coverage while they're holding our stuff. But not sure where the insurance coverage for the other end comes in.

[theshowandme]

Originally Posted by raulus

Not sure I follow what you mean by "insurance coverage on both ends" - particularly the "both" part. I read the agreement to suggest that REA has insurance coverage while they're holding our stuff. But not sure where the insurance coverage for the other end comes in.

Yeah, poorly worded on my end. Will adjust my statement

[raulus]

Originally Posted by theshowandme

Yeah, poorly worded on my end. Will adjust my statement

No worries!

Appreciate all your insights.