For more than 30 years, REA (formerly Robert Edward Auctions) has been known as one of the hobby’s premier auction houses, specializing in rare, vintage cards and recording some of the largest sales in history.
That impressive sales history includes the $7.2 million sale of a 1914 Baltimore News Babe Ruth rookie card in 2023, the third-most expensive card sale in history.
But for the first time this March, REA launched a marketplace on its site. Last week, the auction house brought the items to Chicago for this year’s National Sports Collectors Convention, where it sold six-figures worth of cards and memorabilia, according to REA president Brian Dwyer.
That number brought REA’s total sales via the marketplace to more than $2 million.
“We had a strong feeling that it would be successful, and that it was something that our clients were clamoring for,” Dwyer said. “But having never been in the retail business ... the numbers, the volume, the types of clients that we’re dealing with on the buying and selling side have all exceeded our expectations.”
The marketplace currently has around 1,000 items listed and has recorded major sales including a PSA 10 1980 Topps Scoring Leader Larry Bird/Magic Johnson/Julius Erving card for $600,000, the highest price for the card since 2022.
REA Communications Director P.J. Kinsella said it was evident from his conversations with collectors at the booth that the “optionality” of the marketplace is a welcomed addition to REA’s toolbox.
“When we told them we had a marketplace and a marketplace booth, they lit up,” Kinsella said. “It’s providing almost like the best of both worlds.”
Dwyer says there are multiple use-cases for the marketplace and why some sellers might prefer the fixed-price approach to an auction.
“They would sell their item, but they’re not interested in the risk that comes with auctioning it,” Dwyer said, explaining one type of seller who might favor the marketplace. “Whether it’s got a small bidder base, collector base, whether it’s just an item that doesn’t have a lot of recent sales data on it, the marketplace allows people to put it out there and then engage in discussion.”
One surprise from the success of the marketplace has been the diversity of items, Dwyer said.
“We have items that are $100 all the way up to the $600,000 Bird/Magic card. We've got memorabilia. We've got unopened (product). We've got photographs, tickets, checks. I mean, there is really, truly something for everyone on the marketplace.”
Will Stern is a reporter and editor for cllct, the premier company for collectible culture.