Fanatics Collect, a popular platform for collectors, has just rolled out an exciting update – the introduction of a new Buy Now marketplace with simplified fees. This new marketplace is designed to not only benefit buyers but especially sellers, offering them enhanced earning opportunities and a more seamless selling experience.
One of the most notable changes in the new fee structure is the introduction of a 6% fee for listings sold for less than $120. This rate is one of the lowest in the industry, providing sellers with the potential to maximize their earnings on lower-priced items. This new fee structure replaces the previous 20% buyer’s premium and bonus commission fees, making it a much more profitable option for sellers.
Sellers can expect to earn the same amount on sales of $120 or more as they did before. The revamped fee structure allows sellers to earn up to 94% of the listing price on sales under $119.99, compared to the previous maximum of 85%. This significant increase in earnings is a direct result of the updated fee structure, benefitting sellers immediately without the need to adjust prices manually.
The redesign of the Buy Now marketplace was based on feedback from collectors and sellers, aiming to improve card discoverability, reduce listing times, and simplify fees. Eliminating the 20% buyer’s premium and bonus commission encourages sellers to create more competitively priced listings, thereby enhancing the diversity and quality of options available to buyers.
To ensure a fair and competitive environment, listings priced more than 20% above fair market value will incur a 15% seller’s fee instead of the standard 6%. In a bid to make selling more accessible, the minimum fee for Buy Now sales has been removed, allowing sellers to list items for as little as 50 cents.
In addition to the improved fee structure, 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 quicker and buyers to add to their collections sooner than ever before.
Sellers who may not wish to operate under the new fee structure have the flexibility to delist their items at any time. Assistance is available through sales representatives or the Collector Experience team for sellers who require support during the transition.
The debut of the Buy Now marketplace is a pivotal part of the Fanatics Collect launch, aimed at elevating the buying and selling experience for all collectors involved. By exploring the new marketplace today, sellers can take advantage of the simplified fees and maximize their earnings on every sale. Don’t miss out on this exciting opportunity to enhance your collecting journey with Fanatics Collect!
