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PWCC Monthly Auction
voxels123
Posts: 240 ✭✭✭
Based on the fervor on here, I am reticent to ask. But, here goes: has anyone had the audacity to view the PWCC Monthly auction that was launched yesterday?
If so, do you dare share?
I was looking at several cards I "need" and I noticed that the scan quality was really amazing. See pic.
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Looked and bid! I like their platform...no need for eBay.
yup -- the scans they provide are second to none
I'm sure there's no chance they would shill on their on platform with zero regulation and full PWCC control. That was probably just an eBay strategy.
I am thinking that for their first few auctions, there may be a lot of good deals to be had as the foot traffic won't be as high as on Ebay? I've put in quite a few bids already, so we'll see what happens
I agree. I suspect the rabid haters on here and ol’ Twitter are in all actuality the simultaneous high bidders on there.
But what do I know.
why anyone would deal with such a corrupt outfit is beyond me.
stuff over integrity is what it amounts to.
George Brett, Roger Clemens and Tommy Brady.
So your philosophy is that dealing with PWCC in any way equates to a lack of integrity? Is that really your position?
That was even more theatrical than I was expecting!
then no more ebay sales or purchases then right? 😉
(reasons why have been covered in numerous threads already. not defending pwcc here)
A quick glance suggests PWCC does not accept PayPal as a form of payment for their monthly auctions, is that right?
yikes if so.
That is correct. I saw this on their website yesterday, and sent them a chat message. They confirmed that they will not be accepting Paypal. That does put a serious damper on things, as I use Paypal Credit for purchases over $100; as long as I pay within the specified time period (6-24 months depending on the total), they do not charge any interest.
Steve
All the major auction houses such as REA, Heritage, Mile High and Memory Lane do not accept PayPal...so PWCC is not an exception.
those you mentioned by comparison have been stand alone auction houses since inception. their typical clientele are also those who dont play many games when it comes to returns. pwcc and its following have all been reliant on paypal for the most part. not only were they reliant but it also has the extremely easy element and those safety features a lot of folks are accustomed to. especially on the lower end of the spectrum. i imagine a lot of folks may have issues storing or giving pwcc their credit card or bank info. and a $30 wire fee on a $300 purchase would suck. can they survive without it? sure. will it thwart many from bidding on their new platform? i think so. and will that have an effect on final hammer prices? i think so. would i be worried if i had stuff on consignment for the first 6 months or so? i would think so.
if im trying to draw folks away from ebay to my site, you best be sure that in its infancy, id make sure it was easy as possible for them.
of course, they are prolly trying to thwart returns as much as possible too, so…
8% commission selling fees by PWCC (for cards selling for at least $5k) beats major auction houses who charge typically 20%. That should be an incentive for sellers...at least it is for me. I have both bought and sold thru PWCC and have never had a problem.
im confused. 8% selling commission? because the 20% is a buyers premium. are they charging a buyers premium?
A buyer does not pay any premium in PWCC auctions...but the seller receives 8% less than the final price for cards selling for over $5000. You are right that the 20% is a buyers premium at major auction houses...but I think (could be wrong and would not be the first time) that the seller only receives in general the selling price before the 20% premium. That has been my understanding . I have never sold thru a major auction house...only private sales or PWCC.
got 8% of the buyers premium thru heritage last couple of times. negotiating for 10% on a couple right now. much better than coughing up 8%. especially considering most of the bids were equal or surpassed recent ebay comps. 😉
If a card sells for $10k...then the hammer price at a major auction house is $12k. The consignor would receive $10k and the auction house $2k. Am I right or wrong?
Thx for the clarification!
back to the OP here....
the scan quality is indeed nice. the card posted is a 1984 Topps Tiffany, assumably the #8 Mattingly. here is the same crop of my normal 600 dpi scans of the Nestle version. I assume they use a much nicer scanner, slightly higher than my 600 dpi, with a sharper imaging element.
myslabs.to/smzcards
back to the question on the floor. under the heritage scenario as discussed, if the auction ended at $10k. yes, the buyer would pay $12k. however you in turn would get $10,800. heritage would get $1200. usually to garner the 8%, the total consignment usually has to exceed $50k. (i think).
>
they use photography, not a scanner.
any idea what camera they use?
myslabs.to/smzcards
Well said.
OLYMPUS E-M1MarkII
https://www.getolympus.com/us/en/digitalcameras/omd/e-m1-mark-ii.html?gclid=Cj0KCQjwnoqLBhD4ARIsAL5JedLUVdaZB0WDQklQfB_dL18lqAUZ3jDK0UM6G8yybzwE2tLyYWSQKiwaAoTzEALw_wcB
$1k for the body alone…
Nic
Guides Authored - Graded Card Scanning Guide PDF | History of the PSA Label PDF
Blurryface...
Thank you for clarifying w/numbers. I never quite understood how the buyers premium broke down between consignor and auction house since I have never sold any cards thru a major auction house.
anytime!
Question.... I see PWCC charges a 20% buyers paid premium in their PREMIER AUCTIONS..... DO they charge any premium in their ho-hum monthly auction? They didn't specify on the site that I could find.... Thanks in advance. I'm guessing you just pay shipping and applicable sales tax depending on state of domicile.
that was kinda my confusion above. if they were still charging the 8% sellers commission and then charging the typical 20% buyers premium too? if so, i see eminent failure.
I have sent a question on Friday night regarding a possible buyers premium. I am waiting for an answer tomorrow (Monday).
um, yes. they are an unethical company as has been discussed to death. to me, when one chooses to do business with unethical people you are helping to feed the monster. so yes, it would equate to a lack of integrity when one puts stuff over ethics.
George Brett, Roger Clemens and Tommy Brady.
Duly noted. Patently absurd logic. But noted.
but ebay, who came just short of murder-for-hire, is ok to patron? i understand what and why you feel this way, craig. i just think youre missing the bigger picture in applying your admirable stance is all. kinda like the policeman who pulls over the speeder while letting the bank robbing, second degree murderer go by.
The eBay employees that went to prison? If only…
What sneakers do you wear?
ON ITS WAY TO NEWPORT BEACH, CA 92658
Now that they are running their own auction..... much easier to shill bids now.. Enjoy the ride guys!
Just went through the terms, I am not advising anyone but I suspect this will appeal to a lot of people who were selling through them through eBay to continue on the new platform as opposed to listing themselves.
Does probstein and 4sharp issue 1099's? I always sell my own stuff so I am unsure the process here
"Does PWCC Issue 1099's?
We do not report any sales to tax agencies. Any reporting of earnings from sales in our auctions would have to be reported by you based on your tax situation. We recommend that you reach out to a tax specialist for more information to see if you will be affected."
While I’m probably not breaking any news, just about every auction house will attempt to get both a buyer and sellers premium when dealing with a total newb off the street. Especially a ‘one off’ type consignor.
However, any prestigious card should be probably be shopped around whereby a sharp collector with a great card should be eating into the 20 percent vigorish.
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest
On good cards, most of the big auction houses are offering 10% plus hammer price. Just a FYI. Hopefully you'll get at least 10%.
If offering hammer price + 10%…where do auction houses make money?
BP of ~20%. If a card sells for $100,000 the buyer pays $120,000 and the AH makes $10,000, plus the premia on all the other lots that are attracted by the $100,000 card.
Thx...daltex!
Yes, that was my point. Hammer price plus 10% is EASY to get at most if not all auction houses that charge a 20% BP (most do).
Since they don't accept CCs, there are no processing fees to pay so a 10% commission is very good.
Can you be more specific? Perhaps provide a direct reference or instance? I have a 6 figure card, have shopped Goldin, Heritage and a few others & 8% seems to be the top I can get.
Oh, that's interesting. I have sold several sub-100k cards via Goldin, PWCC, and REA and I've always gotten 10%. Granted, these were modern era cards so I am not sure what the issue is. Maybe just lucky?
Have not tried Rea. Seems impossible to have a 10% buyers premium with PWCC unless it was extremely recently. But you are saying Goldin has? May I reference a particular card that 10% was allotted to you on?
May have already been mentioned, but doesn't ebay own paypal? I know they did at one point. If I were dropping ebay and didn't want them to get any of my money, I think not taking paypal is reasonable.
I seem to remember reading that ebay had sold their interest in paypal, and was trying to get users to stop using it, in favor of ebay's own payment system.
Steve
eBay spun off PayPal to its shareholders in 2015.