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Inaugural BWIC by Collectable Ends January 26, 2023

Collectable’s inaugural BWIC contains a tantalizing mix of investment grade collectibles, including premier sports cards, TCG, sports memorabilia, graded comic books, graded video games, and sports art. Collectors and investors can bid individually or as part of a group, via Group Bidding. Individual bidding is available to collectors and investors globally. Group Bidding is available to verified accredited investors based in the United States.  Bid, view and register for the BWIC auction here. First round of bidding runs January 22-26, 2023.

Qualifying Round (individual bids)

  • Bidding Opens: 1/22/23 @ 8pm ET
  • Bidding Closes 1/26/23: @ 10pm ET
  • Notes: All bidders place one sealed, discreet bid. Top 3 verified bids advance to the Final Round.

Final Round (individual bids)

  • Bidding Opens: 1/27/23 @ 4pm ET
  • Bidding Closes 1/29/23: @ 10pm ET
  • Notes: The top 3 individual bidders submit one best and final sealed, discreet bid.

Group Bidding is available to verified accredited investors on a rolling basis throughout.

  • Bidding Opens: 1/22/23 @ 8pm ET
  • Bidding Closes 1/29/23: @ 10pm ET
  • Notes: The top 3 individual bidders submit one best and final sealed, discreet bid.

What Happens After Final Bids Are Submitted?

  • Best Individual Bid and the Group Bid are presented to the consignor for consideration beginning 1/30/23. Consignors have 24 hours to fill or kill.

Will Results Be Published?

  • Results will only be published if both the consignor and the winning bidder elect to publicize the result. All other bidding information will not be disclosed as part of the process.

What is BWIC?

Bids Wanted in Competition (BWIC) is an innovative and exclusive two-round sealed, competitive, price protected bidding process for investment grade collectible assets. Combining components of traditional collectibles auctions, financial markets, and fractional ownership, Collectable’s BWIC provides the collectibles market with an opportunity for liquidity and price discovery modeled after a process proven to transact billions of dollars of previously illiquid securities in the public financial markets each year.

Frequently utilized in the public financial markets, the Bids Wanted in Competition (BWIC) process transacts billions of dollars of esoteric 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

Individual Buyers:

  • Bid for full ownership of the asset.
  • Available to bidders all over the world
  • Discreet, 7-day, 2-round competitive bidding process

Group Bidding:

Items being offered include:

How does BWIC work?

1. Consignor submits an item for BWIC.

2. Consignor can provide a context price (limit price at which consignor would sell), but are not required to.

3. Bidders submit 1 discreet, binding, non-cancellable bid during the 5 day Qualifying Round.

4. The top 3 bids in the Qualifying Round advance to the “Final Bidding” Round.

5. The top 3 Bidders submit 1 discreet, binding, non-cancellable bid in the 2-day “Final Bidding” Round.

6. The top individual bid is submitted to the consignor for consideration.

7. **During the entire 7-day process, a fractional “Group Bid” opportunity is available to verified accredited investors. Bidders can contribute to a fractional bid to own a percentage of the asset, rather than buying the asset outright.

8. At the conclusion of the 7-day BWIC process, consignors will receive an individual buyer bid AND the potential for a bid from a group of verified accredited fractional investors.

9. If the consignor selects the fractional Group Bid, consignors have the ability to retain equity in the assets for additional upside.

What information will be available to bidders during the process? Will the highest bids be publicly disclosed?
BWIC is a purposely discreet, institutional quality, white glove process intended to provide best execution and price discovery from verified bidders on investment grade collectibles. As such, information typically available at a traditional public auction will not be available to bidders in a BWIC. This includes the bid price of other bidders, the number of bids received, or where their bid is in relation to others. The only information bidders will receive is whether their bid qualified for the Final Round (top 3 only), and ultimately if their bid price was accepted by the seller.

What information will be available to prospective bidders regarding suggested valuations or pricing?
Collectable will provide a basis for indicative pricing via comparable sales, market catalysts, and additional intel on each asset page and through a digital catalog and/or content creation. Collectable will not provide a traditional estimated valuation or valuation range. BWIC is designed to allow “the market” and the competitive bidding process to determine appropriate pricing for assets.

What are the fees?

  • A 20% Buyers Premium will be assessed for completed transactions.
  • Sellers will receive 110% of the hammer price, assuming the asset sells for $10,000 or more. For assets $10,000 or under, sellers will receive 105% of the hammer price.
  • Beginning in July 2023, sellers will be assessed a 1% Listing Fee.
  • If a final bid is above context price (limit) and the consignor decides not to sell, Collectable takes a 5% discovery fee from the consignor, which is split between
    Collectable and the highest bidder (2.5% each).

Who is able to participate in BWIC?
Verified bidders are eligible to submit a bid to buy the full asset. BWIC is available to collectors and investors internationally. The ability to place a fractional ownership bid in BWIC is only available to verified accredited investors based in the U.S., for now.

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(*) Indicates Auction in Progress
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(*) Steve Novella: Jan. 24 - Jan. 31
(*) Auction of Champions: Jan. 23 - Feb. 1
(*) Clean Sweep Auctions: Jan. 1 - Feb. 1
(*) MeiGray Auctions: Jan. 20 - Feb. 1
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(*) Goldin: Jan. 24 - Feb. 2
(*) NBA Auctions: Jan. 27 - Feb. 2
(*) Pristine Auction: Jan. 27 - Feb. 2
(*) Auction of Champions: Jan. 25 - Feb. 3
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(*) Iconic Auctions: Jan. 28 - Feb. 4
(*) MEARS Auctions: Jan. 27 - Feb. 4
(*) SCP Auctions: Jan. 25 - Feb. 4
(*) PWCC: Jan. 30 - Feb. 5
(*) The Collector Connection: Jan. 18 - Feb. 5
Steve Novella: Jan. 31 - Feb. 7
Auction of Champions: Feb. 2 - Feb. 8
(*) Goldin: Jan. 19 - Feb. 8
(*) RR Auction: Jan. 20 - Feb. 8
Goldin: Jan. 31 - Feb. 9
(*) MeiGray Auctions: Jan. 20 - Feb. 9
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Pristine Auction: Feb. 3 - Feb. 9
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(*) Love of the Game: Jan. 25 - Feb. 11
PWCC: Feb. 6 - Feb. 12
(*) Sirius Coins: Jan. 30 - Feb. 12
Auction of Champions: Feb. 9 - Feb. 15
MeiGray Auctions: Jan. 27 - Feb. 15-16
Goldin: Feb. 7 - Feb. 16
Pristine Auction: Feb. 10 - Feb. 16
PWCC: Feb. 2 - Feb. 16
RR Auction: Feb. 1 - Feb. 16
Sterling Sports Auctions: Feb. 2 - Feb. 16
Steve Novella: Feb. 9 - Feb. 16
Auction of Champions: Feb. 8 - Feb. 17
PWCC: Feb. 13 - Feb. 19
REA: Feb. 9 - Feb. 19
(*) JG Autographs: Jan. 27 - Feb. 21
Auction of Champions: Feb. 16 - Feb. 22
Goldin: Feb. 14 - Feb. 23
Pristine Auction: Feb. 17 - Feb. 23
Sirius Sports Cards: Feb. 13 - Feb. 23
Steve Novella: Feb. 17 - Feb. 23
Iconic Auctions: Feb. 16 - Feb. 25
(*) Heritage Auctions: Jan. 30 - Feb. 25-26
Pristine Auction: Feb. 1 - Feb. 26
PWCC: Feb. 20 - Feb. 26
Auction of Champions: Feb. 23 - March 1
Clean Sweep Auctions: Feb. 2 - March 1
Goldin: Feb. 10 - March 1
Goldin: Feb. 2 - Feb. 2
Pristine Auction: Feb. 24 - March 2
Auction of Champions: Feb. 22 - March 3
MEARS Auctions: Feb. 24 - March 4
The Collector Connection: Feb. 15 - March 5
PWCC: Feb. 27 - March 5
Auction of Champions: March 2 - March 8
Goldin: Feb. 17 - March 8
RR Auction: Feb. 17 - March 8
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