PWCC stepping out on their own and taking on Goldin, Heritage, REA, etc.

2010GBPackers · 04-20-2021, 01:27 PM

Goldin has said there's no way PWCC will ever move off of eBay. Their March Vault special suggested otherwise and the writing should have been on the wall. How do you all think their May Premium Auction ($50k+) will turn out? Will PWCC be able to gain a foothold in the AH market off of eBay or are they tied too closely with eBay and, by proxy, access to a larger bidder pool, 3rd party supplied data, fee-structure, etc? Were they too late and missed the big wave to ride in Jan.-March?

Myself, I could see this going either way. Their buyer's premium will be the industry standard (20%) and like their counterparts, you have to be pre-approved. PWCC knows the non-paying bidders are holding them back from being looked at as a reputable place for honest buyers to purchase their times. The question is, will these buyers now trust them on their new platform, unshackled from the chaos that is eBay? Will PWCC peel away consigners and buyers from the other AH's whose sites are arcane, organization feels cluttered, and live auctions are run on 1990's software? (Remember Ken telling people the March 6th auction would be their last using SimpleSiteAuction Software?) I guess time will tell.

heatdawg · 04-20-2021, 01:29 PM

I would love to see PWCC without the shilling, would be very interested to see where those auctions end.

tjforce · 04-20-2021, 01:32 PM

I trust PWCC must much than any other auction house...

IMO.. this will soon become the premier auction house for Ultra high end.

pejc300 · 04-20-2021, 01:34 PM

Their website and platform is 100 million times better than Goldin's archaic one (which he keeps promising is going to change). Many, many people have sent cards to the vault. It is stacked with the best cards in the world.

The biggest issue PWCC has (well, one of the biggest) is simply their reputation of having no integrity at all. It started here on the boards and has never stopped. They do not pull trimmed cards. They moved all of their ebay auctions to private. They have pseudo-celebrities in the vault flipping through high end cards and banging them around. Time and time again they simply do not make "ethical" decisions or even try to. Brent seems to have completely disappeared from the scene. Does he post/comment anywhere anymore? I'm not saying the other auctions houses do either (COMC24354564362654 on here has proven time and time again that Heritage and others don't pull them either).

I think PWCC will do great in this arena, and they are smart to limit it right now to just high end as they probably have taken notes from the disaster Goldin has had in selling low to mid cards.

Also, one reason I have never sent them cards to sell is because their fees are too high on ebay. I'm not paying 5k to sell a 50k card on ebay when I would only be charged $350 from my personal account. Having no selling fees for high end and getting 110% or higher of the hammer fee is appealing for sure.

Those are my thoughts.

pcptrade · 04-20-2021, 01:42 PM

I received an email from them regarding this a week ago...

I wanted to let you know about our new Premier Auction that is coming in May. We are launching a high end, private auction platform with extended bidding. 50k and up. The pay out structure will be like nothing anyone has ever seen in our market. Cards sold for 50k-250k will be 110% of the hammer price to the seller. 250k-1M will be 112.5% to the seller and 1M and over will be 115% to the seller.

All bidders will be preapproved and vetted. Items sent to the Premier Auction is first come first serve as to not duplicate the high end cards. We will be doing brand new 360 imaging/videos on the cards and our marketing for the private auction will be huge. We are really excited about it! Here is a link to show you the new 360 imaging.

https://pwccmarketplace.sirv.com/Leb...0Xfractor.spin

pejc300 · 04-20-2021, 01:43 PM

My other concern is how many preapproved bidders are they going to get for the first auction? I'd probably wait until they have a few under their belt.

GeechQuest · 04-20-2021, 01:44 PM

Quote:

Originally Posted by tjforce

I trust PWCC must much than any other auction house...

IMO.. this will soon become the premier auction house for Ultra high end.

I’m the same. I also hate myself for saying that.

If I was going the consignment route, or investing in the hobby, I’d put my money behind Brent before any other major AH right now.

NeedChapmans · 04-20-2021, 01:51 PM

Interesting.

Healthy competition always good for the market. I'm someone who will always sell on his own but the payout structure seems Xcellent. Will simply be a matter of time on whether or not the service proves valuable enough to the sellers for this to work.

the27guy · 04-20-2021, 01:57 PM

Quote:

Originally Posted by GeechQuest

I’m the same. I also hate myself for saying that.

If I was going the consignment route, or investing in the hobby, I’d put my money behind Brent before any other major AH right now.

Same page.

I talked to Jesse Craig, PWCC's VP of Bus Develpment last month and asked him about the new Extended Bidding Platform - He answered all of my questions to my satisfaction. I took them up on their March promo and sent them a good portion of my collection (some to later sell, some just for safe keeping).

I know Goldin has taken a lot of market share this past year, but I'm team-PWCC. They're wonderful to work with and the rate of non-payers with them has been very similar to what I've experienced with other consignment companies. They just make everything easy. Just my 2 cents.

RookieAddict · 04-20-2021, 01:58 PM

I believe 10% of that buyers premium goes to the seller as well. I hope they do really well with this.

2010GBPackers · 04-20-2021, 02:02 PM

Quote:

Originally Posted by pejc300

Their website and platform is 100 million times better than Goldin's archaic one (which he keeps promising is going to change). Many, many people have sent cards to the vault. It is stacked with the best cards in the world.

The biggest issue PWCC has (well, one of the biggest) is simply their reputation of having no integrity at all. It started here on the boards and has never stopped. They do not pull trimmed cards. They moved all of their ebay auctions to private. They have pseudo-celebrities in the vault flipping through high end cards and banging them around. Time and time again they simply do not make "ethical" decisions or even try to. Brent seems to have completely disappeared from the scene. Does he post/comment anywhere anymore? I'm not saying the other auctions houses do either (COMC24354564362654 on here has proven time and time again that Heritage and others don't pull them either).

I think PWCC will do great in this arena, and they are smart to limit it right now to just high end as they probably have taken notes from the disaster Goldin has had in selling low to mid cards.

Also, one reason I have never sent them cards to sell is because their fees are too high on ebay. I'm not paying 5k to sell a 50k card on ebay when I would only be charged $350 from my personal account. Having no selling fees for high end and getting 110% or higher of the hammer fee is appealing for sure.

Those are my thoughts.

To the initial bolded part - totally agree. Brent has learned to stay on the sidelines and not talk. That is a good thing (it makes Ken G. look more and more like a carnival barker), but that silence also projects as him continuing to hide things. I do wish PWCC would pull these cards when identified because most buyers shouldn't have to check BO just to make sure the cards they're bidding on aren't trimmed.

I disagree somewhat with the second bolded section. 95% of buyers purchasing $50k+ cards don't want to transact with some unknown person on eBay. Most cards that big need to go through an AH and PWCC's prices are strong, especially considering people factor in the 20% BP when bidding on cards through Goldin/REA/Heritage.

Ericc5Bears · 04-20-2021, 02:20 PM

I know this board hates PWCC, but I have had nothing but great experiences consigning with them. I just looked and since January I've sold 43 items with them via auction ranging from $800-$15,000, out of those 43 only one of them had to be re-listed because it wasn't paid for. I get that they've done some sketchy stuff in the past but I think with the reach and name recognition they've gained with their auctions and the PWCC vault they have a solid chance to threaten Goldin when it comes to premium auctions.

bberns · 04-20-2021, 02:22 PM

Quote:

Originally Posted by the27guy

Same page.

I talked to Jesse Craig, PWCC's VP of Bus Develpment last month and asked him about the new Extended Bidding Platform - He answered all of my questions to my satisfaction. I took them up on their March promo and sent them a good portion of my collection (some to later sell, some just for safe keeping).

I know Goldin has taken a lot of market share this past year, but I'm team-PWCC. They're wonderful to work with and the rate of non-payers with them has been very similar to what I've experienced with other consignment companies. They just make everything easy. Just my 2 cents.

Ditto. I've used PWCC over the last three months for a variety of services (sales, Vault, etc.) and their interface is ridiculously smooth. I've also been happy with the sale prices. Have not had a single non-payer yet over many sales.

salthill · 04-20-2021, 02:22 PM

PWCC have shown - through both words and actions - that they’re totally fine with people carving up cards and hiding it, and they facilitate that.
So expect to see plenty of hacked up cards passing through their auctions. Probably with bonus eye-appeal stickers.

brettmik59 · 04-20-2021, 02:26 PM

I've had a positive experience selling in a couple auctions with PWCC. More items have exceeded my price expectations than not, and I've been paid each time without issues. I've also bought a few items from them in the past, also without issues.

pspa123 · 04-20-2021, 02:27 PM

Quote:

Originally Posted by salthill

PWCC have shown - through both words and actions - that they’re totally fine with people carving up cards and hiding it, and they facilitate that.
So expect to see plenty of hacked up cards passing through their auctions. Probably with bonus eye-appeal stickers.

Doesn't trimming create more eye appealing cards?"

pspa123 · 04-20-2021, 02:29 PM

Do the people praising this company realize it is under a now two year old federal investigation for fraud? LOL.

superdan49 · 04-20-2021, 02:32 PM

Quote:

Originally Posted by pspa123

Do the people praising this company realize it is under a now two year old federal investigation for fraud? LOL.

They do not care.

Uwfootball1 · 04-20-2021, 02:32 PM

Quote:

Originally Posted by pspa123

Do the people praising this company realize it is under a now two year old federal investigation for fraud? LOL.

The bigger question is do they care?

CaptSpaulding · 04-20-2021, 02:35 PM

Quote:

Originally Posted by pspa123

Do the people praising this company realize it is under a now two year old federal investigation for fraud? LOL.

But they have nice cards, yo and it sounds like Jesse is salt of the earth.

Pissing in peoples' Cheerios 24/7, eh?

Scottish Punk · 04-20-2021, 02:58 PM

Quote:

Originally Posted by pspa123

Do the people praising this company realize it is under a now two year old federal investigation for fraud? LOL.

Sadly, are we getting to the point where we think this investigation has run its course? I get these things take time. My fear is that we passed the info gathering stage and the back door deals stage. We are just in the house arrest stage and things will be all clear soon.

PSA and PWCC have only grown exponentially in the past year.

corndog · 04-20-2021, 03:00 PM

Dancing with the devil.

Onepocketj · 04-20-2021, 03:02 PM

Would never buy or sell another card from them. Scum of the hobby and yet people still flock to them.

All bids private on ebay. Nothing to see here.

GeechQuest · 04-20-2021, 03:12 PM

Quote:

Originally Posted by pspa123

Do the people praising this company realize it is under a now two year old federal investigation for fraud? LOL.

Yes.

There isn’t one company in the hobby that I can find that is “pure”. If that is the bar you’re looking for, you may be searching for a while sadly.

All that said, PWCC still is probably the “best” in the business at what they do, and arguably the most “pure” of that was the standard one was trying to meet.

It is what it is.

KhalDrogo · 04-20-2021, 03:19 PM

Quote:

Originally Posted by pspa123

Do the people praising this company realize it is under a now two year old federal investigation for fraud? LOL.

What is the status?

04-20-2021, 01:27 PM	#1
2010GBPackers Member Join Date: Aug 2016 Location: Milwaukee Posts: 4,133	PWCC stepping out on their own and taking on Goldin, Heritage, REA, etc. Goldin has said there's no way PWCC will ever move off of eBay. Their March Vault special suggested otherwise and the writing should have been on the wall. How do you all think their May Premium Auction ($50k+) will turn out? Will PWCC be able to gain a foothold in the AH market off of eBay or are they tied too closely with eBay and, by proxy, access to a larger bidder pool, 3rd party supplied data, fee-structure, etc? Were they too late and missed the big wave to ride in Jan.-March? Myself, I could see this going either way. Their buyer's premium will be the industry standard (20%) and like their counterparts, you have to be pre-approved. PWCC knows the non-paying bidders are holding them back from being looked at as a reputable place for honest buyers to purchase their times. The question is, will these buyers now trust them on their new platform, unshackled from the chaos that is eBay? Will PWCC peel away consigners and buyers from the other AH's whose sites are arcane, organization feels cluttered, and live auctions are run on 1990's software? (Remember Ken telling people the March 6th auction would be their last using SimpleSiteAuction Software?) I guess time will tell. __________________ "And more and more and more and more And more of less than ever before It's just too much more for your mind to absorb" - Yasiin Bey (Mos Def) Instagram: 2010gbpackers

04-20-2021, 01:32 PM	#3
tjforce Member Join Date: Oct 2012 Posts: 22,901	I trust PWCC must much than any other auction house... IMO.. this will soon become the premier auction house for Ultra high end. __________________ "Whether you like it or not, learn to love it, because it’s the best thing going. Wooooo!"

04-20-2021, 01:42 PM	#5
pcptrade Member Join Date: Jun 2018 Posts: 7,630	I received an email from them regarding this a week ago... I wanted to let you know about our new Premier Auction that is coming in May. We are launching a high end, private auction platform with extended bidding. 50k and up. The pay out structure will be like nothing anyone has ever seen in our market. Cards sold for 50k-250k will be 110% of the hammer price to the seller. 250k-1M will be 112.5% to the seller and 1M and over will be 115% to the seller. All bidders will be preapproved and vetted. Items sent to the Premier Auction is first come first serve as to not duplicate the high end cards. We will be doing brand new 360 imaging/videos on the cards and our marketing for the private auction will be huge. We are really excited about it! Here is a link to show you the new 360 imaging. https://pwccmarketplace.sirv.com/Leb...0Xfractor.spin __________________ Jealousy is a form of hatred built on Insecurity. It's the unhappy and insecure people who show hatred, jealousy and try to bring others down. Instagram:icollector23, Flickr:https://www.flickr.com/photos/144335251@N08/albums Last edited by pcptrade; 04-20-2021 at 01:45 PM.

04-20-2021, 01:51 PM	#8
NeedChapmans Member Join Date: Aug 2012 Location: Connecticut Posts: 31,800 ProspectCincy NeedChapmans	Interesting. Healthy competition always good for the market. I'm someone who will always sell on his own but the payout structure seems Xcellent. Will simply be a matter of time on whether or not the service proves valuable enough to the sellers for this to work. __________________ It is my legal right to freely profit from the notoriety of people who are actively suffering and possibly even dying and for a few hundred dollars I will gladly seek to maximize those profits.

04-20-2021, 01:58 PM	#10
RookieAddict Member Join Date: Dec 2015 Posts: 1,309 volumeaccumulation	I believe 10% of that buyers premium goes to the seller as well. I hope they do really well with this. __________________ Instagram - @volumeaccumulation

04-20-2021, 01:29 PM	#2
heatdawg Member Join Date: Jul 2017 Location: Upstate, NY Posts: 1,489 heatbreaker	I would love to see PWCC without the shilling, would be very interested to see where those auctions end.

04-20-2021, 01:34 PM	#4
pejc300 Member Join Date: Nov 2010 Posts: 10,648	Their website and platform is 100 million times better than Goldin's archaic one (which he keeps promising is going to change). Many, many people have sent cards to the vault. It is stacked with the best cards in the world. The biggest issue PWCC has (well, one of the biggest) is simply their reputation of having no integrity at all. It started here on the boards and has never stopped. They do not pull trimmed cards. They moved all of their ebay auctions to private. They have pseudo-celebrities in the vault flipping through high end cards and banging them around. Time and time again they simply do not make "ethical" decisions or even try to. Brent seems to have completely disappeared from the scene. Does he post/comment anywhere anymore? I'm not saying the other auctions houses do either (COMC24354564362654 on here has proven time and time again that Heritage and others don't pull them either). I think PWCC will do great in this arena, and they are smart to limit it right now to just high end as they probably have taken notes from the disaster Goldin has had in selling low to mid cards. Also, one reason I have never sent them cards to sell is because their fees are too high on ebay. I'm not paying 5k to sell a 50k card on ebay when I would only be charged $350 from my personal account. Having no selling fees for high end and getting 110% or higher of the hammer fee is appealing for sure. Those are my thoughts.

04-20-2021, 01:43 PM	#6
pejc300 Member Join Date: Nov 2010 Posts: 10,648	My other concern is how many preapproved bidders are they going to get for the first auction? I'd probably wait until they have a few under their belt.

04-20-2021, 02:20 PM	#12
Ericc5Bears Member Join Date: Aug 2020 Posts: 1,240	I know this board hates PWCC, but I have had nothing but great experiences consigning with them. I just looked and since January I've sold 43 items with them via auction ranging from $800-$15,000, out of those 43 only one of them had to be re-listed because it wasn't paid for. I get that they've done some sketchy stuff in the past but I think with the reach and name recognition they've gained with their auctions and the PWCC vault they have a solid chance to threaten Goldin when it comes to premium auctions.

04-20-2021, 02:22 PM	#14
salthill Member Join Date: Sep 2017 Posts: 8,527 salthill	PWCC have shown - through both words and actions - that they’re totally fine with people carving up cards and hiding it, and they facilitate that. So expect to see plenty of hacked up cards passing through their auctions. Probably with bonus eye-appeal stickers.

04-20-2021, 02:26 PM	#15
brettmik59 Member Join Date: Apr 2016 Location: Dallas, TX Posts: 2,077 brettmik59 brettmik59	I've had a positive experience selling in a couple auctions with PWCC. More items have exceeded my price expectations than not, and I've been paid each time without issues. I've also bought a few items from them in the past, also without issues.

04-20-2021, 02:29 PM	#17
pspa123 Member Join Date: Jun 2017 Posts: 3,682	Do the people praising this company realize it is under a now two year old federal investigation for fraud? LOL. __________________ "We will control the horizontal. We will control the vertical. We can roll the image, make it flutter. We can change the focus to a soft blur, or sharpen it to crystal clarity." Opening narration, The Outer Limits.

04-20-2021, 03:00 PM	#22
corndog BODA Join Date: Jul 2013 Location: From a table in McDonalds, with lovely fake flowers on it. Posts: 17,470	Dancing with the devil. __________________ He has no rival, He has no equal.

04-20-2021, 03:02 PM	#23
Onepocketj Member Join Date: Mar 2017 Posts: 21,981 jeflave-0 onepocketj	Would never buy or sell another card from them. Scum of the hobby and yet people still flock to them. All bids private on ebay. Nothing to see here.