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Iconic is a revolving door with many items from Press Pass and Autographs99 going from their ebay stores to Iconic and back again when the items don't meet the high reserves. I've seen the same stuff "sell" multiple times over the last few years. Iconic would be a better company if they just stated that the items come with a reserve and if they don't meet that reserve say so. I never believe those super high "final bid /sold" prices they list at the end of their "auctions"
As far as I could tell, Press Pass and Iconic are in the same building.
Press Pass 15849 N.77th st. Scottsdale AZ. Iconic is 15849 N.77th st. Suite 1 Scottsdale AZ. according to their websites.
I asked the owner of Iconic this and Jeff Wolfe said Iconic and Press Pass are two separate companies. Being in the same building doesn't look good....
It's like the people who are in denial that Celebrity Authentics has anything to do with Gridiron Authentics, despite having the exact same address.
I don't think that sharing a facility is an issue. It can make sense in order to keep costs down and security higher than it might be otherwise.
What surprised me is that according to Kyle Bell's LinkedIN profile, Bell Sports Marketing operates both Iconic and Press Pass.
I'm not 100% sure of the breakdown of the ownership structure, but the holding company structure is a pretty common business structure, each company under the holdCo can be run independently.
I'm not a fan of the way Iconic does their undisclosed reserve price auctions, but I understand that is pretty common in the auction world.
My general assumption about Iconic and Press Pass is that the two companies could be of common ownership and appear buy/tell/trade back and forth from the same inventory. The organizational structures are probably legally valid. In an industry that is not highly regulated there might not be any disclosure requirements related to conflicts of interest, as there are in other types of businesses, particularly financial services. I've observed in business other situations like this where there is a distinction between what is legally valid/ allowable and what common sense would suggest is not as transparent as it should be.
Posted by CJCollector on November 11, 2024 at 6:03pm 0 Comments 1 Like
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