Quote:
Originally Posted by Dpeck100
The leader is always going to have hatters and there is a plethora of those in their case. With card prices attracting bigger dollars and running $0.99 auctions it obviously invites funny games. There is no chance they can regulate all of their auctions. It is encouraging that a seller who clearly benefits from higher prices is doing anything to regulate the wild west known as the card market.
You may not like their operation but the fact that PWCC exists has done wonders for the card market.
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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.