Fanatics Collect, a leading platform for collectors, has unveiled an exciting new feature – the Buy Now marketplace. This innovative marketplace comes with a revamped fee structure designed to simplify fees and increase earnings for sellers.
Under the new fee system, sellers will now pay a flat 6% fee for listings that are sold for less than $120. This rate is notably lower compared to industry standards, making it one of the most competitive rates available. This change eliminates the previous 20% buyer’s premium and bonus commission fees, aiming to make it more lucrative for sellers to list their items on the platform.
One of the key highlights of this new fee structure is that sellers will continue to earn the same amount on sales of $120 or more as they did previously. For sales under $119.99, sellers can now earn up to 94% of the listing price, a significant increase from the previous maximum of 85%. This adjustment promises immediate benefits to sellers, with all existing listings automatically transitioning to the new fee structure without requiring any price adjustments.
The redesign of the Buy Now marketplace focuses on improving the visibility of cards, reducing listing times, and streamlining fees based on feedback from collectors and sellers. By eliminating the 20% buyer’s premium and bonus commission, sellers are encouraged to create more competitive listings, enriching the range and quality of products available to buyers.
To ensure a fair and competitive environment, listings priced more than 20% above fair market value will be subject to a 15% seller’s fee instead of the standard 6%. Additionally, the previous minimum fee of $3 for Buy Now sales has been removed, allowing sellers to list items for as little as 50 cents, enabling greater flexibility in pricing.
In addition to the fee changes, the new Buy Now marketplace also promises faster transactions. Through the Fanatics Collect app, collectors can now make immediate payments when purchasing items, facilitating quicker payment processing for sellers and enabling buyers to enhance their collections promptly.
For sellers who may prefer not to operate under the new fee structure, they have the option to delist their items at any time. Assistance is available through sales representatives or the Collector Experience team for any questions or support needed during this transition.
The introduction of the Buy Now marketplace marks a significant milestone in the Fanatics Collect platform’s evolution, aimed at improving the overall buying and selling experience for all collectors. Visit the new marketplace today to enjoy the benefits of lower, simplified fees and maximize your earnings on every sale!
