OK, sports fans, here's a fun thing for boys of all ages (girls, too) and a new twist on the old American tradition of collecting baseball cards.
It's one of those couldn't-be-done-without-the-Internet e-commerce gimmicks that always intrigue me. We're talking etopps.com here, a new site launched by the venerable sports trading card outfit the Topps Co. (QUOTE NASDAQ:TOPP).
And get this: They are offering IPOs (initial player offerings) for new cards.
Fans who visit etopps.com buy from a finite number of IPOs, which they then trade online with other collectors. There are about 10 IPOs each week, with each player allotted between 5,000 and 12,500 cards. Topps said it destroys what doesn't sell when the IPO window closes after one week.
Once the IPO closes, the cards will never be offered again, Topps said. The price for each card will be between $3.50 and $9.50. Of course, any bubble gum you get is virtual.
Consumers don't even have to take physical possession of the cards they buy. Topps says that owners of etopps cards may elect to have their cards physically remain in the possession of Topps. The cards can be tracked in a personal online portfolio. Only etopps cards held in your personal portfolio can be traded on a dedicated secondary market — the etopps Trading Floor, which — you guessed it — is on eBay.
Alternatively, buyers can elect to have their cards delivered to them in uncirculated mint condition (in a tamper evident acrylic case).
A very cool idea, I think. When I checked the trading area on eBay, I found that the asking price for card number 72, Yankees pitcher Mariano Rivera, was $30 already from one seller. Home run king Barry Bonds seemed to be in the $10 to $15 range.
The launch was timed to coincide with the celebration of the 50th anniversary of the first set of baseball cards.
"Topps set the standard for the modern day trading card back in 1951," said Warren Friss, Topps vice president for Internet Business. "Now, 50 years later, etopps sports cards will set the standard for sports fandom online."
The inaugural IPOs featured 10 Major League Baseball players — Barry Bonds (had to be, dontcha know), Derek Jeter, Cal Ripken Jr., Tony Gwynn, Jeff Bagwell, Albert Pujols, Roberto Alomar, Tom Glavine, Craig Biggio and Rafael Furcal. Football card IPOs started Oct. 14 and hockey and basketball IPOs are scheduled to start in early 2002.
How are sales so far?
"We are very pleased ... and are happy with the response on the secondary market," Friss said. "As more users are introduced, we expect sales to consistently grow."
Topps' Internet business includes Topps.com, etopps, Topps Vault (on eBay) and thePit.com, a trading exchange for traditional sports cards.
The Topps Company, founded in 1938 as Topps Chewing Gum, is an international marketer of entertainment products, principally collectible trading cards, candy and sticker album collections.
There is, of course, a slew of competition in the sports card game, including Upper Deck, Donruss and Fleer, among others. However, a Topps spokesman told me that "there are no other card companies doing what we are doing."
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