Fanatics Auctions has been integrated into the digital platform’s e-commerce with collectibles including game-worn items and autographs FANATICS
Fanatics' latest effort to expand its online offerings is through its new Auctions arm, which is closing out its inaugural Fanatics Holiday Premier Auction later tonight. Fanatics Exec VP Victor Shaffer said the brand hopes to "expand the entire universe of auction buyers." Fanatics Auctions has been integrated into the digital platform’s e-commerce with collectibles including game-worn items and autographs from Zion Williamson, Tom Brady, Shohei Ohtani and Sabrina Ionescu. Shaffer said Fanatics is attempting to provide competitive advantages that give them a big distinction between their auction platform and “anybody else in the space.” A key to that, Shaffer said, is not having a buyer’s premium on items that could be upwards of 20% or more. Shaffer: “If they bid on a item say $100K, if they win, that’s what they pay ... no hidden fees.”
GOOD EARLY RESULTS: Shaffer said Fanatics has gotten “great results” since the online auction launched in early November. Of the 50 items available, nearly 200 bids have been made as of this morning with the end of the auction nearing. Shaffer: “We’re bringing in fans that historically haven’t been registered with Fanatics or any auction platforms.” Their current auction includes some of the company’s memorabilia from exclusive agreements they have with various athletes. The current highest price item in the holiday auction is a PSA 10 ‘86 Michael Jordan Fleer #57 Gem Mint Rookie Card at $240,000 while the highest bid-upon item is an ’18 Super Bowl Patriots autographed helmet with 43. Fanatics also has more affordable options in the holiday auction, Shaffer said, as the company sees the importance of providing "value to fans” of all economic capacities.