ghosts tell stories. Here’s the story of the Rocky’s Matcha “Latte” drop.
On September 3rd, we opened our Blind Dutch Auction. Thirty (30) ghosts were available for bidding. 85 different people placed a bid. Those bids ranged from $11 to $2,501. The median bid was $301.
Since there were 30 ghosts available, the top 30 bidders won a ghost. All winners paid the same “Clearing Price”, which was equal to the 30th highest bid. In this auction, the 30th highest bid was $500, which means that the Clearing Price was $500. This means that everyone who won paid $500 for their ghost.
That means that 87% of winners paid less than what they bid. In total, the 30 winners paid $16,154 less than their bids.
For those keeping score at home…the Clearing Price for the “Latte” was a good deal lower than the Clearing Price for our first public release, the ghostwrite “One”. The “Latte” went for $500; the “One” went for $1,026.
Some of the difference in price is due to supply: there were 30 “Latte” ghosts available at auction, compared to 20 “One” ghosts. As such, the Clearing Price of the “Latte” was equal to the 30th lowest bid, while the Clearing Price of the “One” was equal to the 20th highest bid. That’s just how Blind Dutch Auctions work.
But some of the price difference is also due to a difference in demand. In the “Latte” auction, there were 85 bidders, compared to 219 for the “One” auction. This isn’t that surprising, given that the “One” coincided with our public launch (and all the corresponding press coverage).
In the end, we think the $500 Clearing Price will prove a major win for “Latte” collectors. This was our very first collaborative release; it was made in partnership with an ascending, hyper-relevant brand; and the design is cool as hell.
Long term… $500 is going to seem like a steal.
If you missed out on the “Latte”, don’t despair. We’ve got a bunch of great drops coming up, including Eastside Golf next week. So keep an eye on your inbox and follow us on IG for more drop news.
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