Quote:
Originally Posted by Johnny630
I can't see how this is geared towards collecting. It's geared towards investing, like I said earlier it's a brokerage account. You still have to pay taxes on the profit of your card when they send you a check. This doesn't seem like much fun to me, hell like one poster said above I might as well just buy Tesla Stock, lol.
What's Next are they going to have a Sports Card ETF or Mutual Fund? Good Grief lol.
I want the card in my collection as a long time piece to enjoy, In the long run that's what makes me smile, not so much the profit.
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Not necessarily geared for investors either. Maybe more for for flippers or dealers who can simply have their purchases sent to one of these "vaults", and then just tell them when to put things up for sale/auction. The idea of investing has the potential for holding on to things for quite a while in many cases.
I wonder if the two "vault" operators aren't also assuming a lot of people will use their services to simply get around paying sales taxes on their purchases, and then hope that since these individuals are so cost conscious that instead of asking for their items back at some point to maybe send out to a different seller/AH, they can save on the shipping costs and fuss and risks in handling and just have either PWCC or Goldin handle the subsequent sales/auctions for them. Basically these "vaults" could end up being built-in pipelines for additional consignments to both PWCC and Goldin.