Quote:
Originally Posted by Snapolit1
Maybe it works? Figure that blows up in your face once or twice and you'll find a new game to play.
By the way, here's the dude leading on the Gehrig PWCC auction I've been watching, ending tonight:
30-Day Summary
Total bids: 51
Items bid on: 28
Bid activity (%) with this seller: 94% Help
Bid retractions: 0
Bid retractions (6 months): 5
5 retractions in 6 months? Mmmmm. Makes ya think, no?
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Another prick bidding on high dollar cards.
That business model only works in an bull market; a robust one at that. If he's gaming the system (shilling/manipulating), then his odds of making money are in his favor.
Seems like a lot of effort for little reward, and lots of exposure to the downside. Couldn't do this on a small scale; would need to spread your risk far and wide and have lots of helpers.
The common denominator in these auctions is a winning bidder who wants the card so bad he pays 2-5X VCP. We'll be hearing from these "victims" in a few years and how they were duped into overpaying for their cards.