When you’re a brand new brand, everything you do feels novel – even radical. But last week’s HIDDEN release really did break the record for “firsts”.
It was our first collaboration with HIDDEN; our first individually-sold 100% ghost; and our first chase variant (10 random auction winners will receive a clear green chase ghost; 90 winners will receive the matte green base design).
As if that wasn’t enough ground breaking, it was ALSO our first pre-graded release. Prior to shipment, all of the “Present” 100% ghosts were encased in custom acrylic slabs and graded by AFA (Action Figure Authority), having received grades ranging from 8.5 to 9.25. You can learn more about the grading process here and on AFA’s site.
When you have a totally new product, with totally new features, from a more-or-less totally new brand….how can you possibly know how to price it??? Well kids, in cases like this, we like to call upon our old friend, “the market”.
Per usual, we ran a three-day Blind Dutch Auction and let the market set the Clearing Price. Here’s what happened:
- Total ghosts sold: 100
- Total Bids: 317
- People who bid for one ghost: 141
- People who bid for two ghosts: 88
- Clearing Price: $151
- Highest Bid: $1,999
- Average Bid of Winners: $383
As you can see, demand outpaced supply by more than 3x (317 bids for just 100 ghosts). Relative to supply, it was our highest-demand, most hyped release to date!
At the same time, it was also our lowest Clearing Price to date, too. But that makes sense: this was a 100% ghost, and previous individual releases have been 400% size. Our old friend the market is always wise.
Almost every winning bidder paid less than their bid to purchase the “Present” ghost, with 97 of the 100 winners bidding more than the $151 clearing price. And when looked at in aggregate, that works out to all winners paying $23,247 less than their bids in total.
If you weren’t a winning bidder or missed on the release for any reason, you can head to StockX and place a bid HERE.
ghostwrite 