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ivo610
04-14-2011, 07:26 PM
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
04-15-2011, 03:47 PM
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
04-15-2011, 04:08 PM
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? :confused:

Mattapan03
04-15-2011, 04:16 PM
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? :confused:

Good question?

Allaboutsports
04-15-2011, 05:01 PM
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
04-15-2011, 05:41 PM
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
04-15-2011, 06:47 PM
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
04-15-2011, 08:23 PM
...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
04-16-2011, 12:03 PM
Couldn't have said it better, Matt.

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

legaleagle92481
04-17-2011, 11:53 AM
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
04-17-2011, 02:26 PM
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
04-17-2011, 09:04 PM
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
04-17-2011, 11:30 PM
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
04-17-2011, 11:52 PM
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
04-18-2011, 05:35 AM
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.


http://www.amazon.com/b?%5Fencoding=UTF8&site-redirect=&node=256994011&tag=colmor-20&linkCode=ur2&camp=1789&creative=9325

buckeyegamers
04-27-2011, 08:46 AM
I was very interested in taking a look at the final results of the first JO auction.....can anyone tell me what "pass" means?!?!?!? Seems some items had numerous bids but the "Final Price" is listed as "pass"

Tay1038
04-27-2011, 09:24 AM
I was very interested in taking a look at the final results of the first JO auction.....can anyone tell me what "pass" means?!?!?!? Seems some items had numerous bids but the "Final Price" is listed as "pass"


"Pass" is another term for the reserve not being met.

buckeyegamers
04-27-2011, 12:08 PM
"Pass" is another term for the reserve not being met.


Tay, that's what I assumed but I didn't remember seeing "reserved" on any of the auction listings? Did I just miss that?

nickacs
04-27-2011, 12:13 PM
I see that you can't see the results anymore on the auction site. Anyone know what the AP jersey went for? I wasn't bidding, but just curious :)
I got my eye already paying for another jersey from JO :D Can't wait!!!

JO, thanks for a great auction and can't wait for the next!

DaBears54
04-27-2011, 12:29 PM
[quote=nickacs;248606]I see that you can't see the results anymore on the auction site. Anyone know what the AP jersey went for? I wasn't bidding, but just curious :)quote]

$4,632.20 after Buyer's Premium.

ivo610
04-27-2011, 01:06 PM
So what did everyone win?

I personally only bid on 1 item and didnt win.

Tyrcha
04-28-2011, 12:03 AM
I should be making a splash shortly. ;)

gingi79
04-28-2011, 11:20 AM
I have nothing personally against JO but aren't we letting them off the hook a little here with the 15%?

First of all, the Buyers and Seller Premiums to me are the worst ponzi scheme in history. I realize they are now common practice but it is simply yet another way to push the cost of business on everyone else using a cryptic and manufactured fee schedule. It's been going on much longer than the bad economy so they can stuff that lie as well. Every auction house double dips and lowers the sellers payout while raising the sellers cost and all to rob Paul to pay Peter.

These items were already in their inventory and certified by them long before the auction so I'm sorry a Buyers premium no matter how much lower it is from hobby standard looks horribly greedy to me and using the fact some items are consignments is a cop out IMO.

I realize that times are tough and I applaud JO for trying something new to not only generate interest but offer jerseys (in theory) at a much lower cost to collectors. I am not a customer of JO but as I said, I have nothing negative to say about them other than the fact I disagree with the explaination and how easily we just let it go. MEARS and Classic, hell ever GUU would have been questioned more.

dplettn
04-28-2011, 11:28 AM
Closing price review (regardless whether they were “passed”) does not suggest the auction lived up to JO’s hopes, by-and-large. I’m assuming JO was hoping their sticker prices would serve as an anchor for free market pricing. I am not assuming that JO is content to sell their stale inventory for what a free market (no monopolistic powers) would bear.



I avoided posting anything recently on any threads about JO with courteous consideration of the sensitive timing around the auction, but it doesn’t seem like anything is being done about their unsavory business practices. The most clear light isn’t necessarily shined on JO here. For example, I contributed a photo rebuttal to a JO “photomatch” on a Chad Ochocinco helmet to the moderator. The moderator hasn’t (yet) posted it.


My personal opinion is that regardless whether open discussion about JO’s claims are discouraged, unsavory business practices always catch up with a business over time. In my opinion, the marketplace will continue to grade JO over time. No amount of censorship will change JO from defining itself by its actions because collectors tend to educate themselves over time.

mad87man
04-28-2011, 01:18 PM
I honestly don't mind the small fee. I mean they are selling jerseys for a third of what they are on the site. What is 15%? I can see how some people would be upset though

DaBears54
04-28-2011, 01:26 PM
While I was not satisfied with the fee either, I reduced my maximum bid to compensate. :D If I was willing to pay $800 outright for a jersey, I made my maximum bid right around $700. If they want to charge an extra 15% buyers fee at the end of their auctions, it's their right as a seller, I will just bid 15% less in my maximum bid.

Tyrcha
05-07-2011, 09:30 PM
Here's my JO Auction win...Anthony Adams 2010 dark jersey worn at the Panthers. The jerseys shoulders are pretty hammered and the TV numbers on the left shoulder has a nice turf stain.

legaleagle92481
05-09-2011, 08:55 PM
Heres a q for you guys. We hammer the auction companies for their fees but why don't we hammer Ticketmaster and the like for the fees they charge when you buy game tickets? Ticketmaster now charges you 20% of the ticket price as a fee. If you bring the family and get four tickets for $200 bucks they take an extra $40 out of your pocket for "convienance" and "processing". To me that is a much bigger rip off because you can shop auction companies until you find the right deal if your selling and if your buying you can pick and choose who to patronize with the tickets you have no choice.