Quote:
Originally Posted by groundskeeper
Okay I officially think PWCC is fraud.
4/9/19
1910 E98 Red Chief Bender PSA 9 MINT Black Swamp - PWCC on ebay
$4,605.00
4/6/19
1910 E98 Red Chief Bender PSA 9 MINT Black Swamp - Memory Lane Auction
$2,635.20
So an IDENTICAL card gained $2,000 (+75%) in value in THREE DAYS?
Honestly, this has gotten too scammy.
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Hard evidence, not circumstantial, is warranted before I'd be anywhere close to considering PWCC a fraud. I look forward to its emails weekly showcasing the auctions, and suspect I am not the only one. I attribute the big returns to its' marketing and in-house grading attracting millenials. And bottom line-wise, PWCC's fees for big time cards are actually cheaper than what many small sellers would be paying ebay. It pays for itself to use an auction house with that kind of reach if ebay charges 10% compared to PWCC's 9%.
Since we're speculating here, I suspect the crypto crash might have something to do with PWCC's success and spikes on cards like, say, green Cobb portraits or Jeter foils. A lot of people were looking for a safe haven last year, and high end vintage cards sure looked good if you were on ebay and came across PWCC in 18.
Chinese billionaires may be part of the equation, but I think what you mean here is crypto. We know for a fact some bitcoin whales did make the crossover, directly, last year during the 1952 Mantle Heritage auction by Evan Mathis. Smartly, Mathis and HA got together and alerted the media, generating free marketing and exposure for the auction. The AP and ESPN picked up their announcement that a bitcoin transfer would be accepted. Evan even showed up here on this board to answer our questions. Point is, we have a proven correlation between vintage baseball cards and bitcoin. If even a dozen of those bitcoin whales moved into this hobby, you'd be contending in auctions with people who can bid many of us into the ground. Bubbles are everyday for these people.
RE: Mathis, if he made the mistake of holding on to that $2.88 million in bitcoin, today it would be worth $1.73 million.