JO Auctions

[ivo610]

Looks like the rumors are true, JO Sports is doing auctions now. Glad to see it. Nice items lined up for the first auction, with a little bit of all the major teams they deal with.

Thoughts?

[Allaboutsports]

Re: JO Auctions

Yeah i seen that as well. I think it is a great idea, and a great thing for the customers to finally get the jerseys they want and the right price. I think this will be very good for JO Sports and the many sports collectors out there cause JO Sports has the BEST stuff available.

[DaBears54]

Re: JO Auctions

Yeah I got that email from JO last night and immediately signed up for the auction. I love the idea of JO selling their jerseys in a auction setting.

The only question I have is why the 15% buyers fee? I don't think JO is contracting the jerseys out to Mears or Grey Flannel or some other auction site like that just to run the auctions are they? Those independent sites charge a buyers fee as their cut of the profit between seller and buyer. What's the purpose of JO needing an extra 15% if they're the seller and owner of the auction site?

[Mattapan03]

Re: JO Auctions

Yeah I got that email from JO last night and immediately signed up for the auction. I love the idea of JO selling their jerseys in a auction setting.

The only question I have is why the 15% buyers fee? I don't think JO is contracting the jerseys out to Mears or Grey Flannel or some other auction site like that just to run the auctions are they? Those independent sites charge a buyers fee as their cut of the profit between seller and buyer. What's the purpose of JO needing an extra 15% if they're the seller and owner of the auction site?

Good question?

[Allaboutsports]

Re: JO Auctions

i spoke with Robert on this question and his response was all auctions charge a buyers fee, and all auctions charge a consignment fee, so there is 2 separate fees. Some buyer and consignment fees are up to 18% i was told. Hope this helps you guys out

[DaBears54]

Re: JO Auctions

i spoke with Robert on this question and his response was all auctions charge a buyers fee, and all auctions charge a consignment fee, so there is 2 separate fees. Some buyer and consignment fees are up to 18% i was told. Hope this helps you guys out

Yeah, but these fees only make sense when the auctioneer is a 3rd party. All these 3rd party auction sites out there (like Ebay, Mears, Grey Flannel, etc.) don't own the products being sold so they must charge a fee for income. NFL Auctions owns the products they sell and they don't need an extra fee. What gives? From what I see, JO is the seller and the auctioneer. The final price of the auction + the fee all go to JO.

[BU54CB]

Re: JO Auctions

Yeah, but these fees only make sense when the auctioneer is a 3rd party. All these 3rd party auction sites out there (like Ebay, Mears, Grey Flannel, etc.) don't own the products being sold so they must charge a fee for income. NFL Auctions owns the products they sell and they don't need an extra fee. What gives? From what I see, JO is the seller and the auctioneer. The final price of the auction + the fee all go to JO.

All good points, I'd be interested to know the reason for the extra fee as well.

[TriplexXxSports]

Re: JO Auctions

...The only question I have is why the 15% buyers fee?

Simple - you run the risk of letting the general public (or let me put it this way - the average collectors that most of us are) set the common price for jerseys.

When you take the risk of your product selling for better than 40% below what your retail price is, you need to make profit as best you can. Hence the 15% juice.

If 1 jersey gets 1 bit at the minimum, plus the juice, they still profit. Not as much as if the jersey sold at their retail, but profit non the less.

I'm not so sure the auction is a good idea. I can see 80% of their stock selling at far less than their asking prices, therefore putting the leverage in the hands of the bidders/buyers (which from a business stand point, may not be the best idea).

If you are going to give your buyers that much leverage, you may as well just drop your asking prices back to a common market setting, and save the hassle of the auction...

[34swtns]

Re: JO Auctions

Couldn't have said it better, Matt.

Lower prices equals more sales thus killing the need for any sort of "auction".

[legaleagle92481]

Re: JO Auctions

JO is smart to do this it responds to all the pricing criticisms by letting the customers set the price. My prediction is most items will sell close to what JO offers them for everyday, the interest is that high. Also the BP is necessary to cover their expenses. Even for items they own (they also apparently have consignments) they have expenses related to maintaining the auction, such as the website and the employees who monitor it, etc. Steiner also charges a BP in their auctions. Its standard practice unless your Ebay.

[mad87man]

Re: JO Auctions

i personally can't wait for this. they have some great things being auctioned off and am pretty excited about what i can bid on. i have seen a few things they didn't even offer on their site for sale which is cool. i can't wait to see what this and future ones bring.

[josportsco]

Re: JO Auctions

I want to thank everyone for the tremendous amount of registrations. We had to implement a buyers and sellers premium due to we do accept consingments and have had a good amount of interest in this. Also we will be incorporating some very exciting special offers from our teams in 2011 that require a buyers premium. We have brought on a small auction staff that also requires a cost to operate. My thoughts of a premium is a small cost that helps us bring you, the collecting community, the most prized Sports collectibles in the market. Although we specialize in NFL equipment be on the look out for some equipment from the superstars of all major sports. Last, we will have a special for all GUU members in the very near future. Once we get the details worked out with GUU ownership we will make the announcement. A token of our appreciation to the forum members. Thank you

JO

[legaleagle92481]

Re: JO Auctions

I want to thank everyone for the tremendous amount of registrations. We had to implement a buyers and sellers premium due to we do accept consingments and have had a good amount of interest in this. Also we will be incorporating some very exciting special offers from our teams in 2011 that require a buyers premium. We have brought on a small auction staff that also requires a cost to operate. My thoughts of a premium is a small cost that helps us bring you, the collecting community, the most prized Sports collectibles in the market. Although we specialize in NFL equipment be on the look out for some equipment from the superstars of all major sports. Last, we will have a special for all GUU members in the very near future. Once we get the details worked out with GUU ownership we will make the announcement. A token of our appreciation to the forum members. Thank you

JO

Thanks for all you've done for the collecting community. Without you guys my collection would not be near what it is today. I never thought I would be able to acquire some of the shirts you have allowed me to acquire. i look forward to the special offer you speak of as there is a slew of stuff I want to order.

[DaBears54]

Re: JO Auctions

I want to thank everyone for the tremendous amount of registrations. We had to implement a buyers and sellers premium due to we do accept consingments and have had a good amount of interest in this. Also we will be incorporating some very exciting special offers from our teams in 2011 that require a buyers premium. We have brought on a small auction staff that also requires a cost to operate. My thoughts of a premium is a small cost that helps us bring you, the collecting community, the most prized Sports collectibles in the market. Although we specialize in NFL equipment be on the look out for some equipment from the superstars of all major sports. Last, we will have a special for all GUU members in the very near future. Once we get the details worked out with GUU ownership we will make the announcement. A token of our appreciation to the forum members. Thank you

JO

JO,

Thank you for coming on the site and clarifying my question about the BP. I am really looking forward to the auction and the GUU special!

[sammy]

Re: JO Auctions

More choices of where to spend my money, and the BP is lower then the standard 20 percent that most of the auction houses charge.