Fanatics And Sotheby’s Have Joined Forces; Here’s What It Could Mean

Fanatics has seemingly gotten its hand into every pot in the hobby. Now, it is starting a partnership with Sotheby’s.

Undoubtedly, they were partially spurred into this space by eBay’s moves to cement its spot as the top arena for sports card acquisitions, such as the acquisition of Goldin Auctions and their deepened cooperation with PSA.

This gives Fanatics a presence in the auction world they lacked before, and a far higher prestige than eBay received with their Goldin deal (no offense, Ken).

But how important is this deal? Is it just another anecdote or a legitimate game-changer? We have the full story in our overview of how Fanatics and Sotheby’s joined forces.

What happened with the Fantatics/Sothebys deal?

We may wonder how big a deal this cooperation is. But Fanatics doesn’t seem to doubt that it is utterly earth-shattering. Here is the summary in their press release:

“Today, Fanatics and Sotheby’s announced a groundbreaking partnership to redefine the trading card industry. The collaboration will allow collectors and enthusiasts to purchase the rarest and most covetable trading cards across all sports, valued at $100,000 and above.”

“Through the partnership, Fanatics Collect and Sotheby’s will showcase a curated selection of top-of-the-market trading cards, available for purchase through a series of dedicated live and online auctions hosted by Sotheby’s. The venture represents a captivating addition to Sotheby’s sports and modern collectibles department, a category the auction house officially launched in 2022, and has since achieved numerous world records at auction, particularly for game-worn memorabilia.”

What do Sotheby’s and Fanatics have to offer each other?

Essentially, the two entities will cooperate in curated auctions. Fanatics will use its massive pull and influence in the hobby and professional sports, while Sotheby’s will use its cache and ability to attract the genuinely high rollers.

Fanatics Collect CEO Nick Bell said, “This unique partnership reflects the elevated status and cultural impact of the hobby and gives these highly sought-after cards incredible reach and visibility to potential collectors worldwide. We’re truly excited to be able to pair our knowledge in high-end sports cards with Sotheby’s unrivaled expertise in storytelling across exceptional fine art and objects.” So, we can see it is the high-end reach of Sotheby’s that Fanatics has in mind.

“We are thrilled to partner with Fanatics Collect to pioneer the evolution of the trading card market to new heights,” said Brahm Wachter, Sotheby’s Head of Modern Collectibles.

“Through high-end auctions, state-of-the-art exhibitions, and exhilarating events, this collaboration marks a significant milestone within the ever-growing and engaged trading card community. We eagerly anticipate ushering promising collectors into an exciting new era of innovation and accessibility.”

The death of PWCC

The cooperation between Fanatics and Sotheby’s is getting all the attention here. That is understandable; it’s a huge deal. However, something many people overlook here is the consequences for PWCC.

PWCC is one of the biggest auction venues in the United States, and Fanatics acquired it in May 2023.

However, in this deal, Fanatics has announced that it is retiring that brand. According to the press release:

“Alongside the launch of Fanatics Collect, starting this month, Fanatics is retiring the PWCC brand. All services previously provided by PWCC – including auctions, marketplace listing, vaulting, and authentication – will now be provided under the Fanatics Collect brand. Fanatics aims to make Fanatics Collect the most trusted and dynamic marketplace in the collectibles space, allowing collectors to browse and instantly purchase from an extensive range of hundreds of thousands of collectibles. The platform launches with a reimagined fixed-price marketplace experience and weekly and monthly auctions. Later this year, Fanatics Collect will introduce a range of new updates, including peer-to-peer trading, AI-powered concierge services, card scanning, and digital collectibles.”

Why the death of PWCC is a good thing

Before Fanatics acquired PWCC, it had a long history of shady dealings. In particular, it was a haven for selling cards from known trimmers.

To make things worse, their CEO, Brent Huigens, essentially admitted he was selling altered cards, saying they were “conserved.” You can see this interview on his ‘controversial’ definition of conservation.

Huigens insists that as long as “there is no evidence of anything having been done to the card,” the card has been conserved. At that time, anyone who cared about the integrity of cards started closely following what PWCC was doing.

The folks at Blowout Forums traced cards sold by alleged Long Island card fraudster Gary Moser to PWCC. According to repeated allegations, he has been systematically altering genuine sports cards. We must add that Moser has never been prosecuted and denies all charges.

Then, PWCC was kicked off eBay for systematically engaging in shell bidding. The e-commerce giant released a statement: “Recently, it was determined that individuals associated with a trading card seller, PWCC, have engaged in “shill bidding,” which is prohibited on eBay.

As a result, eBay has restricted PWCC’s selling privileges and listings, effective today. eBay’s policies and standards were designed to ensure a trusted marketplace where our community can confidently transact. If we determine that a buyer or seller is not acting in good faith, eBay takes this seriously and takes action.”

We could go on with all the allegations PWCC has faced over the years. But we won’t. When Fanatics acquired PWCC, I was shocked that they would get into bed in a questionable outfit. But it seems they understand that and have now finished swallowing up PWCC. Good riddance.

The Jackie Robinson sale

Every high-profile collaboration needs an equally high-profile launch. Sotheby’s and Fanatics will start this by selling a 1948 Leaf #79 Jackie Robinson card (PSA 8). Here is what their press release had to say about that:

“The first live auction will be held this September in New York, including a 1948 Leaf #79 Jackie Robinson card (PSA 8), estimated between $275,000-350,000. This legendary card is the only true rookie card of the baseball idol and is featured in one of the most iconic sets of the post-war era. Known for its vibrant colors and design, as well as a checklist filled to the brim with Hall of Famers and post-war returnees, the 1948 Leaf has long been a favorite of collectors.

What distinguishes this particular card is its exceptional condition; boasting unparalleled visual appeal, it ranks among the elite, with a scant eight out of 1,791 graded by PSA surpassing its grade. Further information regarding the September sale and the online auction scheduled for December will be unveiled in the forthcoming weeks.”

The birth of Fanatics Collect

As we mentioned, PWCC is being replaced by a new entity. That company will be called Fanatics Collect.

According to the press release, the official launch of that entity will come in a few months: “The partnership coincides with the announcement of Fanatics Collect, a new collectibles marketplace launching later this summer that will connect buyers and sellers of trading cards and memorabilia through fixed-priced listings and auctions.”

But even though we do not have any precise details on Fanatics Collect yet, it is not too hard to read between the lines. As Fanatics has announced, the new platform will replace PWCC and do something similar to their sales platform. That means it may include consignments and a vault since those are the two things PWCC is best known for.

Aside from the occasional scam, of course. The announcement also tells us it will combine fixed-priced listings and auctions.

What is Fanatics trying to do with the partnership?

It sounds familiar—a bit like this little platform called eBay. We all knew this day would come. Fanatics has an unquenchable thirst to be the only company in the hobby and is trying to move into every possible space.

On another level, this is also a defensive move. In May, eBay and PSA announced they finalized cooperation on several levels.

According to their mutual press release, that included “the sale of Goldin from Collectors to eBay and the sale of the eBay vault from eBay to PSA, along with a commercial agreement that will create the new, combined vault product offering.”

The collection of deals that the e-commerce and grading giants made brought grading, a sales platform, and a prestigious auction venue into the picture. They also combined vault services. It was an impressive show of force for the two companies.

Fanatics will try to use its leverage as the creator of most of the new cards in the hobby to create its e-commerce platform to rival eBay.

Final word on the Fanatics and Sotheby’s partnership

My instincts say that this will not work. eBay is massive, and everyone in the hobby group is used to working with them.

Brand-new boxes of cards are not the primary way cards are sold on eBay. Older cards, graded cards, singles, and the like are bought and sold there massively.

In addition, many people shop there for other things aside from cards. About 50% of what I do on eBay has nothing to do with cards. I don’t think I am alone.

The partnership with Sotheby’s will give Fanatics an edge at the high end of things. But again, that is not really what eBay does. Huge sales usually take place elsewhere, to begin with.

Finally, the eBay and PSA partnership gives it a massive advantage by providing a convenient way to grade cards you sell there without having to ship or handle the paperwork. Fanatics cannot compete.