Press Release: Collectable Expands Verticals, Internationally Via Innovative Competitive Bidding Process Launch
Collectable Unveils Innovative Competitive Bidding Process with a Fractional Ownership Component For High End Collectibles
NEW YORK, NEW YORK, UNITED STATES, January 9, 2023/ EINPresswire.com / -- After recently unveiling a multi-pronged partnership with eBay, leading collectibles platform Collectable continues to build momentum. Today, Collectable announced an innovative and exclusive two-round, sealed, competitive bidding process designed to increase price discovery and liquidity of iconic collectible assets, and to create additional shareholder opportunities for Collectable’s fractional ownership exchange.
The launch also signals Collectable’s first introduction of comic books, graded video games, TCG, and sports art to the platform. In addition, the launch of BWIC represents Collectable’s international expansion efforts, as bidding will be available to collectors and investors all over the world.
Frequently utilized in the public financial markets, the Bids Wanted in Competition (BWIC) process transacts billions of dollars of esoteric and illiquid securities each year. Collectable’s version of BWIC will be tweaked and tailored to investment grade collectibles across various categories. The competitive bidding process will feature a proprietary fractional ownership component called Group Bidding, which allows verified accredited investors to jointly bid on assets in the auction. For the first time in history, individual bidders will compete head-to-head against a group of investors for the opportunity to own premier collectible assets.
The inaugural BWIC will feature collectible heavyweights such as a Mickey Mantle 1952 Bowman SGC 10, high end graded comics including Superman #1 and Batman #1, a trio of graded Super Mario Bros video games, a Dragon Ball Z black label set, and an original Cy Young rookie card from 1890-92, an original Type 1 photo used to create Jim Brown’s iconic rookie card, selected assets from Collectable’s fractional ownership platform - and more.
Said Collectable CEO Ezra Levine, “Collectable’s mission is to elevate the collectibles asset class through enhanced access, liquidity, and optionality for both buyers and sellers. Bids Wanted in Competition is a time-honored financial markets approach to valuing, and ultimately transacting, esoteric assets. We believe it fits nicely within the collectibles arena, and we’re excited to roll out our proprietary and unique capabilities combining components of traditional collectibles auctions, financial markets, and fractional ownership. In addition, BWIC should provide an engaging and structured process to increase liquidity and shareholder value for our fractional investors.”
The first BWIC is slated to open at the end of January 2023. Collectable will utilize a 20% buyers premium fee structure, and a 1% Seller Listing Fee beginning in July 2023. Collectable anticipates hosting the competitive bidding process on a quarterly basis, at minimum. Individual bids will be available to all collectors and investors. Group Bids are available to verified accredited investors based in the USA over the age of 18.
Collectibles have emerged as an burgeoning alternative asset that both institutional investors and everyday investors are looking to hold. The industry has caught the eyes of a wide array of financial institutions and sophisticated investors who are exploring the inclusion of the asset class in diversified portfolios. Sales of global collectibles are expected to grow to $692 billion from $412 billion over the next 10 years, according to Market Decipher, a Canadian market research firm.
Collectable is the leading, most trusted collectibles platform where iconic artifacts transact. Launched in 2020, Collectable is the leading pioneer of fractional ownership of rare and culturally and historically significant collectibles for collectors and investors of all income brackets. Collectable strives to elevate the collectibles asset class by enhancing access, liquidity, optionality, and transparency for investors and collectors. To learn more, visit www.Collectable.com or download CollectableApp on iOs and Android app stores.
Sarah Martin, VP of Marketing & Strategy, Collectable
Collectable Technologies, Inc.
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