Quote:
Originally Posted by Exhibitman
I am not a 'hatter', David; no malice when I say that I am disgusted by the PWCC business model. It is not asking the impossible to simply ban bid retractors from the auctions. Easily done, but not done, because it financially benefits the owners.
This isn't helping the market any more than any other manipulation helps any other market. They are providing a known vehicle for fraudulent activities. In the long term it is harmful to the collecting community and wrong. It isn't helping the market any more than Mastro's shilling helped the market. When the music stops a lot of people are going to end up burnt and they will leave collecting for something else.
I and many other collectors I know won't bid with them as we would with other sellers because of how they allow consignors to act. Perhaps that will be the ultimate mechanism to force PWCC to take action.
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It is EBAY's marketplace. They must be the one's to take the lead to stop the retractions. Pull up dpeck100 on EBAY. None. Ever. And I have had the same person who pulled their bid run the auction back up and I just held my ground. If I bid, I am the one that pulled the trigger and it's that simple.
Liquidity has created additional interest in cards and by auctioning off thousands of cards per month it is doing just that.
I too disagree with bid retractions but it is unrealistic to expect a seller to adopt a policy that has a zero tolerance policy when EBAY couldn't care less.
You need turnover to create recorded sales for people to try and base their value estimates on and they are by far the leader in this on EBAY when it comes to trading cards.
I will take the good they provide over the bad. All day.