The phrase “cardboard gold” has taken on a whole new meaning as Whatnot, the largest live-stream shopping network in North America and Europe, rides the wave of the baseball card revival to unparalleled success. Armand Wilson, Vice President of Categories & Expansion at Whatnot, reveals that the platform is thriving on the resurgence of sports card collecting, with a card sold every second on the site.
“Baseball as a standalone category is one of our biggest. It’s a huge part of our platform,” Wilson shared. Sellers on Whatnot have raked in a staggering $2 billion in live sales in just the first nine months of 2024, with over 500 of them pocketing more than $1 million. Some sellers have even made the leap to full-time commitment on the platform, bidding farewell to their conventional jobs.
Whatnot initially kickstarted in 2019 with a focus on Funko Pops before diversifying into other categories, including sports cards. Wilson explained that the foundation of Whatnot was laid to address the challenges buyers faced in purchasing collectibles online, particularly the prevailing fraud in the market. With an average buyer collecting 12 items per week, the expansion into cards seamlessly fit the platform’s narrative.
A pivotal moment for Whatnot was its participation in “The National,” a grand midsummer collectibles show. By replicating the convention floor on its app, Whatnot attracted thousands of sellers to exhibit their inventory live, fostering a dynamic connection between buyers and sellers. This innovative approach showcased the power of the app, showcasing Whatnot’s firm stance in the market.
Although the platform charges an 8% commission on each sale, sellers report significantly higher sales volumes compared to other marketplaces. Wilson highlighted that sellers on Whatnot double their sales compared to elsewhere, attributing this success to the platform’s steadfast focus on enhancing the user experience for both buyers and sellers.
The meteoric growth of Whatnot is undeniable. From fewer than 10 employees four years ago, the company has burgeoned to almost 700 today, with baseball cards playing a pivotal role in propelling this expansion. Successful sellers like Geoff Wilson from Cards HQ near Atlanta and Dakota Peters from Boca Raton are shining examples of the platform’s potential, amassing millions in sales and transforming hobbies into full-fledged businesses.
Fostering trust between buyers and sellers is a cornerstone of Whatnot’s ethos. While the platform doesn’t directly authenticate products, sellers earn trust by upholding high standards and promptly addressing customer concerns. “Whatnot sellers cultivate trust to flourish,” Wilson emphasized.
Headquartered in Culver City, California, with hubs across North America and Europe, Whatnot has swiftly emerged as a global force. Hosting a whopping 175,000 hours of live streams weekly—800 times more than QVC—the platform witnesses sellers achieving nine times more sales than on other marketplaces, with buyers spending an average of 80 minutes daily engaging with live streams.
Card-breaking, where a group divides a box of cards and opens packs together, has emerged as one of Whatnot’s most popular features, fostering community and engagement among collectors. The rapid-fire auctions, some lasting just a minute, keep users hooked and yearning for more.
For many collectors, Whatnot transcends being merely a marketplace—it’s a social and interactive experience. Sellers connect with buyers in real-time, addressing them by name and catering to their interests, adding a personal touch that has cultivated a loyal and diverse audience across various age groups.
As Whatnot continues its expansion, it’s evident that the platform has redefined the landscape of buying and selling collectibles. By merging the thrill of live-streaming with the timeless appeal of baseball cards, Whatnot has firmly positioned itself as a frontrunner in the burgeoning collectibles market.
