Happy New Year everyone! As always, we’re thankful to have spent another year with our incredible PPG community and we’re excited about what 2023 has in store for all of us.
We’re ready to start the year off with a bang and have some news that we think you’ll be excited about.
As you all know, it’s our mission to provide the best Price Guide out there for everything Funko. In order to do so, it’s important to constantly be adding new price point sources to the guide. Over the past year, we’ve added far more price sources than ever including price points from eBay Best Offers, 7 Bucks a Pop Prices to Pristine Auctions, and Mercari (just to name a few).
So without further ado, we’re excited to announce that we’ve started a trial project that will potentially allow us to add Whatnot prices to the Price Guide.
The Trial
Steve AKA BabyYodasPorg (and the man that brought us Funko Pop Legit Check – Real vs Fake) has been taking screenshots of Star Wars sales from Savagepops’s shows. And Chad (known in PPG circles as KidKamel) has agreed to add them to the guide throughout the next few days. Now before anyone gets too excited, please keep in mind that this is a TRIAL 🙂
Here’s what it looks like –
Next Steps
That being said we might roll this out to other Channels and are talking to Whatnot about how to do this on a bigger scale. If you are interested in getting involved, ping us. And if you have strong feelings about this (or just want to tell us that you love this) go ahead and comment below!
Considering it’s a large market for Pops, I think this would be great in accurately recording prices.
Please add WhatNot to the list! #makeppgaccurateagain
On the one hand it’s about time as Whatnot represents probably 75% of all Pop sales. On the other, Savagepops is a bad place to start as his streams cater to whales willing to spend hundreds, sometimes thousands, above current PPG values. Point of fact, 80% of their sales are to a very small handful of collectors and don’t accurately show what the common collector would pay.
Curious how you got to 75% (I think it is much less than that). And remember, this is only a small start.
youre comment is exactly why these should be factored in. if someone is willing to overpay ppg value on something then it just proves someone should be valued higher. youre looking at ppg prices are being gospel and should be followed to a T. but the fact is if people are paying more (or less) for something then maybe the ppg value of that item is wrong to begin with? the values shouldnt cater to a common collector, or anyone for that matter. if the common collector doesnt wanna pay the price then thats on them but it has nothing to do with anything. Thats like saying the common collector isnt gonna spend on the clockwork orange pop so it should just be lower….um no.
Agreed. He is not your typical whatnot seller and doesn’t attract your average buyer. Fun stream to watch but doesn’t represent typical whatnot sales.
WhatNot data is highly variable – I’ve bought a pop in the show for $12 that sold a hour later in the same room for $28. It’s all about the right buyer / seller at the right time.
I have been tracking WhatNot sales myself and they are nothing if not inconsistent. Including them could drastically impact the reliability of your valuation model.
1/2 PPG, $1 starts, Winner’s Wall, Mystery Boxes, Purchase Incentives (free protector, raffle entries, damaged discounts), etc. – the various selling environments produce different results.
WhatNot sellers simply have different audiences and motivations.
Indeed, lots of work and this is a pilot. Re that item you bought for $12 and sold for $28, curious – what was the PPG EV for it at the time?
This will be a fun one – 09 Daemon Targaryen with Dragon Egg.
I marked his PPG down as $45 the day I bought him. My total after shipping and taxes was $13.25. This was a steal.
The buying conditions are everything. It was the first auction ran for an AM show that did not start itself with a givvy – so fewest buyers the show had at any point.
I’ve also observed far less competitive bidding on AM weekday shows in gerenal. It’s a wildly different environvment than some weekend giveaway blow out show from a major seller.
Whereas eBay is a controlled environment – listing, pictures, price, WhatNot is just a totally different animal. Here the seller and/or buying environment leads to the pricing being highly variable. They have the ability to directly influence bidders in real time.
To integrate WhatNot sales into the existing pricing model I feel that you’d need to account for several factions within your valuation formula. Timing of the sale, type of auction being conducted, any incentives from the seller geared towards increasing bids above PPG and the number of buyers present in the room all quickly come to mind.
Those are all good points and we are not sure how far to go. There is the Whatnot Marketplace, there are big shows and small shows (terms of traffic). There are also give-aways. We will test this carefully and might only do some of these. Please remember we are all collectors, we got 100s of Funko Squad Members including many owners of retail stores selling Funko etc etc.
“WhatNot data is highly variable – I’ve bought a pop in the show for $12 that sold a hour later in the same room for $28. It’s all about the right buyer / seller at the right time”
This is the problem with ppg, everything changes by the minute and it’s near impossible to find a true market value. I’ve offered 60% of a list price on eBay and it was accepted. If they didn’t accept, it could have sold for list price the same day. Everything is so random and on the sellers will. It’s a crazy collectible to valuate
Every Asset changes in value all the time. We are reporting what items sold for and predict a current Estimated Value but we do not dictate the price going forward 😉
this is the worst idea you’ve ever had
Can you explain what it is that you do not like about it? Are sales on the Whatnot Marketplace OK? All items bad? What is the reason?
I think this will all even out. The more data the better and I remember that Stockx at the beginning had weirdly high prices but that that changed over time – I am sure we will see the same here in 2023.
The more data added, the more accurate the values. so i am all for this. makes wayyyyyy more sense than when you added 7 bucks a pop to the data collection, considering they post their items based on ppg value, so it wouldnt have effected anything. more data, better prices. im all for it.
I agree that data coming from the marketplace should be factored in along with other current marketplace sales (eBay, Mercari).
The ones I am worried about are sales coming from auctions. Some people are willing to overpay in order to “win” and some newer streamers have to take a loss at first in order to get a following. How would mystery boxes be factored in? What about bundles? In short, auction sales will be much harder to track.
Bundles and Mystery Boxes are easy (will not be added). Auctions can lead to Winner’s Curse but not sure why that is a problem (that is what the buyer was willing to pay and I understand that Whatnot does not take any defaulted payments lightly?). That being said it is all early days here and we are only doing one Seller for now. As always we will keep you guys up to date on what is changing.
I think buy now prices should be factored in. Auction prices not so much. As someone has stated there are a lot of $1 starts and winner pick off the wall. I myself have gotten some pops for way under ppg just because it was late at night. For this I think buy it now prices since they are usually around ppg anyway should be incorporated.
Having whatnot prices will help more on the price on pop, and seeing a another secondary market. and seeing the impact on the prices.
finally yes plz ebay fake sales has alot to do with ppg prices and u always see big jumps or low sales so this would for sure be great for the funko community.
I think we are pretty good at not counting fake eBay sales but if you see any please flag them!
I’m not too keen on the idea of using Whatnot auctions. Whatnot is unique in that many more well known sellers can auction of items at a much higher price because people want to buy from that person specifically. Essentially, people will pay more to purchase from certain people rather than pay more just for the pop. I think Marketplace sales will provide a more accurate snapshot.
No to anything from “WhatNot”. I’ve heard too many things that make WhatNot sales unreliable.
Please share what you heard. Whatnot has many different types of sales and I can see no reason to not include for example their Marketplace sales?
You dont keep up with ebay sales so i would say NO
You can always help 😉 Here is more on the Squad.