Anybody Noticing PWCC weekly auction content and sales $$$'s?

[55koufax]

So for about two months now, I have concluded that PWCC has again shot itself in the foot with their constant changing formats....the 20% BP on their weekly auction they recently instilled, along with all the other BS, appears to have taken it's toll on the quality of consignments they have been getting. Seemingly very low quality throughout. Also, I see some bargains even to be found at times. Strange, compared "to the old days" !!!

[Lorewalker]

Originally Posted by 55koufax

So for about two months now, I have concluded that PWCC has again shot itself in the foot with their constant changing formats....the 20% BP on their weekly auction they recently instilled, along with all the other BS, appears to have taken it's toll on the quality of consignments they have been getting. Seemingly very low quality throughout. Also, I see some bargains even to be found at times. Strange, compared "to the old days" !!!

Well it is a good thing they are not under an active federal investigation for shill bidding and card altering. Imagine what that might do to their business!

[Leon]

I am not saying I would never bid with them but I haven't in years. I don't think I have looked at more than 2 of their auctions since leaving ebay. I am not a registered member with them...and now if they have a 20% buyers penalty I am very much less likely.
.

[DeanH3]

Originally Posted by Leon

I am not saying I would never bid with them but I haven't in years. I don't think I have looked at more than 2 of their auctions since leaving ebay. I am not a registered member with them...and now if they have a 20% buyers penalty I am very much less likely.
.

This.

I don’t even think to look at their auctions. They have been out of sight, out of mind I guess.

[111gecko]

Their auctions were huge. Where do you think the consignors went? My guess is a good amount went to Probstein and Greg Morris. Any other ideas?

[JeremyW]

Their consignors have a multitude of options available these days. Your guess is probably correct, if they're in a hurry.

[rugbymarine]

Originally Posted by 55koufax

So for about two months now, I have concluded that PWCC has again shot itself in the foot with their constant changing formats....the 20% BP on their weekly auction they recently instilled, along with all the other BS, appears to have taken it's toll on the quality of consignments they have been getting. Seemingly very low quality throughout. Also, I see some bargains even to be found at times. Strange, compared "to the old days" !!!

I have noticed the same, especially compared to some of their offerings in November/December. I collect Brooks Robinson. When I searched for “Brooks Robinson”, I was underwhelmed by the quantity and the quality of the listings.

[ZiggerZagger]

I was shocked to see them tack on a 20% BP to even their run-of-the-mill weekly auctions a little while ago. Really tone-deaf as to their position in the market now.

Their first couple of auctions after leaving eBay featured some weaker prices compared to market, but much less so now. And the BP absolutely kills it.

Worst of all, their website format makes browsing the auction almost impossible. Really slow and laborious. Unless you have very narrow tastes and can search for what you want (T206, e.g.), it's just not worth the time and effort.

As this probably meets criteria for a critical post, here you go (j@$on B!$pin&)
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[mrreality68]

Originally Posted by ZiggerZagger

I was shocked to see them tack on a 20% BP to even their run-of-the-mill weekly auctions a little while ago. Really tone-deaf as to their position in the market now.

Their first couple of auctions after leaving eBay featured some weaker prices compared to market, but much less so now. And the BP absolutely kills it.

Worst of all, their website format makes browsing the auction almost impossible. Really slow and laborious. Unless you have very narrow tastes and can search for what you want (T206, e.g.), it's just not worth the time and effort.

As this probably meets criteria for a critical post, here you go (j@$on B!$pin&)
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+1 Agreed. as other mentioned as a result I do not even bother looking anymore

[Peter_Spaeth]

Are they still charging consignors or have they just shifted to an AH model of making their cut from the BP? Either way I don't see why it's a deterrent, just bid 20 percent less, in theory everyone else should be doing the same.

[D. Bergin]

Originally Posted by Peter_Spaeth

Are they still charging consignors or have they just shifted to an AH model of making their cut from the BP? Either way I don't see why it's a deterrent, just bid 20 percent less, in theory everyone else should be doing the same.

I have zero stake in the matter, as I don't think I've ever used them for anything, but that's exactly what they are doing.

https://www.pwccmarketplace.com/submit

Don't know how else an auction house is supposed to make money. You either have a Buyers Premium, or a Consignor's fee, or a combination of both.......there's really no way around that.

[Lorewalker]

Originally Posted by Peter_Spaeth

Are they still charging consignors or have they just shifted to an AH model of making their cut from the BP? Either way I don't see why it's a deterrent, just bid 20 percent less, in theory everyone else should be doing the same.

Remember the last time you discussed this? LOL. Anyway, there are some who play by those rules and others who just want to win and really do not care or even realize they are overpaying. Assuming they are not being run up, they may not in fact even be overpaying just because they paid more and could pay more. The present market is not measured by 20% vigs and sales tax for many who just showed up to the party.

[bounce]

Originally Posted by Peter_Spaeth

Are they still charging consignors or have they just shifted to an AH model of making their cut from the BP? Either way I don't see why it's a deterrent, just bid 20 percent less, in theory everyone else should be doing the same.

As with a lot of things, they made this complicated. As easily as I can describe it, the 20% buyers premium they charge is "shared" with the consignor, depending upon the ending bid amount.

[CardPadre]

I feel like if they kept the initial format coming from eBay like they did for the first couple weekly auctions they could have maybe stood out in an appealing way to the newer generation of buyers.

“Not your grandpa’s auction house, what you bid is what you pay.”


Sent from my iPhone using Tapatalk

[Aquarian Sports Cards]

Originally Posted by CardPadre

I feel like if they kept the initial format coming from eBay like they did for the first couple weekly auctions they could have maybe stood out in an appealing way to the newer generation of buyers.

“Not your grandpa’s auction house, what you bid is what you pay.”


Sent from my iPhone using Tapatalk

Problem is, when you're competing for consignments with auction houses that dominate the market, and use a certain model, it is VERY hard to use a different model. Consignors, despite trying to explain to them that a higher commission and a lower BP that is the same total rate as a lower commission and a higher BP, seem to only hear the commission number.

So if you have a model that charges a combined total of 30% but it's broken down 20% commission 10% BP you will lose consignors that you could get by reversing those numbers.

I know it's stupid, but it's true.