eBay Sale & PWCC Vault

[mintacular]

Look, I don't want to start another PWCC bashing thread. However, I do have a question which is that I sold an item on eBay and the buyer was a random name (like Brian Davis) with a dash then PWCC Vault in the title. The shipping address is Oregon and I believe home to PWCC, with no sales tax as is the case of with residents in Oregon....

So my question is, let's say you are a high end buyer/collector and you spend 100K a year on sports cards. In Pennsylvania we have 6% sales tax which is about average I think, hence 6K in sales tax. If I were to open a Vault w/PWCC how much would that be per year and could you just collect cards there and have Brent ship them to you at later and avoid the 6K? Obviously PWCC would have a fee of their own/send-back or "cash-out" fee, but probably less 6% I would guess.

Thanks, just want some clarification if anyone knows how this whole VAULT situation works....-Pat

[swarmee]

PWCC openly advertised his lack of state sales taxes when opening the vault, so yes, Brent WANTS you to evade state taxes by using his facility. That's one major reason it was built in Oregon.

Still there:

[mintacular]

Is it illegal? Must be some rules that you can't ship cards from vault for over a year or something like that.....

[hcv123]

I wouldn't touch it with a 1000 foot pole.

[conor912]

Originally Posted by mintacular

Is it illegal?

Even if it is, I don't see how him shouting from the hilltops about exploiting it isn't gonna close that loophole real fast.

[pokerplyr80]

Originally Posted by mintacular

Is it illegal? Must be some rules that you can't ship cards from vault for over a year or something like that.....

I've heard 6 months but I'm not sure what the laws are and would assume they vary from state to state. It wouldn't surprise me if some states didn't specifically address this issue at all.

There are enough lawyers on this board that hopefully someone knows the answer.

[slightlyrounded]

I'm shocked, SHOCKED I tell you, that PWCC would be selling trimmed taxes as a service.

[swarmee]

I wonder if those states have laws like the federal government where they reward you for snitching on people who evade state sales taxes?

[White Borders]

Originally Posted by slightlyrounded

I'm shocked, SHOCKED I tell you, that PWCC would be selling trimmed taxes as a service.

LOL! I just watched Casablanca again this weekend

[robw1959]

Originally Posted by mintacular

Look, I don't want to start another PWCC bashing thread. However, I do have a question which is that I sold an item on eBay and the buyer was a random name (like Brian Davis) with a dash then PWCC Vault in the title. The shipping address is Oregon and I believe home to PWCC, with no sales tax as is the case of with residents in Oregon....

So my question is, let's say you are a high end buyer/collector and you spend 100K a year on sports cards. In Pennsylvania we have 6% sales tax which is about average I think, hence 6K in sales tax. If I were to open a Vault w/PWCC how much would that be per year and could you just collect cards there and have Brent ship them to you at later and avoid the 6K? Obviously PWCC would have a fee of their own/send-back or "cash-out" fee, but probably less 6% I would guess.

Thanks, just want some clarification if anyone knows how this whole VAULT situation works....-Pat

The answer to your question is yes, PWCC does ship your items to you tax-free after they have been "curated". The curation time takes about three weeks, after which time you can request the items to be shipped and pay only the shipping cost and the 1% curation fee, which is half of 1% if the item was sold by PWCC in the first place. As a real example, I won a card listing from them for $3000 and had it curated, paying no tax or shipping fee. Then right after curation I had it shipped to me at which point it cost me $45 to have it delivered - $15 for the .5% curation fee and $30 for insured delivery. From the time I bought the card on eBay, I believe I had my card in hand in about one month. There is no cost whatsoever to establish and maintain a PWCC vault.

If you create PWCC's mailing address as a secondary shipping address in eBay, you can have anything shipped there tax-free, and then the curation process takes place as I described. I have only done this twice - both times on graded high-end PWCC cards, which I think are the only type of eBay transactions that make this process worthwhile.

I suppose you can call it tax evasion if you want to, but it is legitimate. And after all, didn't we collectors pay zero taxes on eBay purchases for many years before this new law to tax private transactions came about?

[ruth-gehrig]

I would never feel at ease shipping anything of value to a Vault to be "ingested", to be future flipped or not. I just received their email about incoming assets to be ingested free of charge. I cringe and laugh at the same time but to each their own.