Their Collectors Corner website is now including Sports Cards and such. They are making a push to make the site better. No listing fees, just a small % on sold items. Even a small % of Ebay's coin/card business can have a huge impact on revenue and profits.
Collectors Corner now has 36 Registry sets in the first week. Cards for sale valued at over $3.1M. More importantly, 2 people have reported making SALES of their cards after listing there. Some snafus, but it is a work in progress. They are getting ideas and bug reports from users in real-time and fixing in real-time. With over 100,000 card registry sets, this can be a big business for CLCT.
Thinking out loud. 2 sales in 1 week with only 36 sets (of the 100K+) registered. If CLCT really gets this going that could translate to a couple thousand sales every week. At $5/sale in commission, this could add over $100K to sales every year. Just for cards. Coins are 3X more popular and 10X more expensive. This could be a multi-million dollar revenue item for CLCT, with very low fixed costs. Would probably increase margin and add 10c/yr to earnings. That 10c is essentially the cash burn they have now every year.
It seems to me that CLCT is thinking of not only getting into online sales with commission, but becoming the exchange, like NASDAQ, that aggregates prices and sales for all the sub-exchanges (auction houses). If they could strike a deal with Ebay where Collectors Corner items come up in the Ebay search, it could dramatically bring in new business. Maybe give Ebay a small cut for searches done through Ebay like Apple gets a cut on their AppStore.
If they could begin to grab some of the large Ebay sellers, that would be huge. It seems that no auction site ever can break into Ebay's auction dominance, despite Ebay's harsh treatment of sellers and high fees. Ebay fees are around 10% commision on the sale price and Paypal adds 3%. Ebay also has listing fees after the first 50 each month and Ebay also takes 10% of the shipping cost which is pathetic. So if this auction idea could catch on and most importantly attract BUYERS, then it could be huge. Cards for sale is only important if they can also get buyers to the site. To get buyers takes advertising and it takes the sellers not over pricing cards
PSA Offers Easy Way to Sell Set Registry Cards Via Collectors Corner
- May 15, 2014
Collectors Corner offers an attractive, easy way to list your cards for sale.
Collectors now have a convenient, easy way to offer their PSA Set Registry® cards for sale. They can be listed free at Collectors CornerSM (CollectorsCorner), the popular collectibles marketplace for PSA and PSA/DNA-certified items.
"Over the years I have had many requests to build a place that will give Set Registry members an opportunity to sell their cards. Our own Collectors Corner is the perfect marriage," said BJ Searls, Set Registry & Special Projects Director at Collectors Universe, Inc., parent company of PSA and Collectors Corner.
"Set Registry participants who are members of the PSA Collectors Club can now upload their inventory to sell directly to Collectors Corner from the My Set Registry link. Unlike eBay and other similar online exchanges, Collectors Corner is exclusive to PSA-graded cards. This is a great way to conveniently sell excess inventory or make extra money from your collection while using the PSA Set Registry," explained Searls.
With just a few keystrokes, you easily can set up your inventory of PSA Set Registry cards for sale.
With just a few keystrokes, collectors can quickly upload their card inventory, add images and set their selling price and terms of sale. Listing the cards for sale on Collectors Corner is free, and only a small fee is charged when you make a sale. Sales transactions are conducted through PayPal.