|Wed May 28 2014 13:01:38|
Amazon's Latest Effort at Disruption: Collectibles
By: Ina Steiner
Amazon announced the launch of its latest collectibles category on Wednesday - the Amazon Collectible Coins Store. Here's how the company describes it:
"Amazon launched a Collectible Coins store (www.amazon.com/collectiblecoins), a marketplace that gives customers direct access to more than 10,000 unique U.S. coins from over 75 industry-leading dealers showcasing a wide variety of professionally graded and authenticated coins. The new store is one of the largest online destinations to discover and purchase graded U.S. coins, featuring easy-to-use search tools. Customers can explore a vast range of collectible, rare and historical coins from highly regarded dealers, including Stack's Bowers Galleries, Kagin's, David Lawrence Rare Coins and Liberty Coin."
As with its other collectibles stores (Sports, Entertainment, Fine Art), Coins is a gated category - dealers must apply before being able to sell there. Amazon is launching the store with fewer than 100 dealers. (Amazon spokesperson Erik Fairleigh told EcommerceBytes, "We have not set limits and welcome all interested sellers to apply and contact us for more details. We evaluate all potential sellers on a case by case basis. At launch, we are working with primarily professional coin dealers. ")
Two years ago, eBay put into place new restrictions in its coins category, dropping several coin-grading companies and only allowing grading from Numismatic Guaranty Corporation and the Professional Coin Grading Service. Earlier that year eBay had banned sellers from listing replica coins.
What do you think of Amazon and eBay's restrictions in categories such as coins?
Will Amazon eventually disrupt the online and offline collectibles market, including auction houses? And do you think Amazon's has a shot at being the go-to marketplace for collectibles?