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Tuesday, June 25, 2024

Fanatics Buys PWCC to Compete in Collectibles Auction Space

  • Fanatics is buying collectibles auction company PWCC for an undisclosed sum.
  • The move is Fanatics' second major acquisition of the month after the company bought PointsBet.
Fanatics is buying auction marketplace PWCC.
Fanatics

Fanatics is pushing into collectibles auctions with a major acquisition.

The multifaceted sports company is purchasing PWCC, it confirmed to Front Office Sports. Terms were not disclosed. The acquisition grows Fanatics’ presence in collectibles after it purchased Topps for a reported $500 million in January 2022. 

PWCC offers technology, a collectibles vault, and an established marketplace to Fanatics Collectibles after bringing all its technological operations in-house due to a dispute with eBay. The legacy auction platform removed its items in December 2021 amid accusations of shill bidding to raise prices — which PWCC vehemently denied.

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While Fanatics holds trading card rights with several leagues and player associations — including MLB, MLBPA, the NBA, NBPA, and NFLPA — it didn’t have as strong a presence in the auctions space. It can now compete with Heritage Auctions and Goldin, subject of the Netflix show “King of Collectibles: The Goldin Touch.”

“I think that for the sports collectible business, Fanatics is going to have the biggest impact,” Goldin founder and CEO Ken Goldin said on Front Office Sports Today earlier this month.

On May 14, Fanatics made another high-profile acquisition, growing its sports betting division by buying PointsBet U.S. for $125 million. The company is working toward launching a media division called Fanatics Live.

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