PWCC Boggles the Mind. New Auctions

[Steve D]

To me, the biggest change will be when payments are due.

Up to now, winners could wait until the entire auction ended at the end of the month, and then have five days to make payment. This worked great, as I, and many others, get paid once a month. You could win an auction on, say, the 12th of the month, and then wait until the end of the month when you get paid, to send in your payment; allowing you to get a card you may not have been able to get had payment been due sooner.

Now, with the change to weekly auctions ending every Sunday, payments will be due more often, eliminating this payment "float". It looks like you'll still have ten days after the auction, to make your payment, but in many cases, you won't be able to wait until the 1st day of the following month.

Steve

[Snapolit1]

I've glanced at PWCC 3 or 4 times since this summer. Not registered with them and just wanted to see what vintage they were rolling out. Massively unimpressed. I'll stick to LOTG, Heritage, Brockelman, Collectors Connection, Huggins & Scott, Hunts, Hakes for memorabilia, and a few others.

[Peter_Spaeth]

Originally Posted by Snapolit1

I've glanced at PWCC 3 or 4 times since this summer. Not registered with them and just wanted to see what vintage they were rolling out. Massively unimpressed. I'll stick to LOTG, Heritage, Brockelman, Collectors Connection, Huggins & Scott, Hunts, Hakes for memorabilia, and a few others.

One wonders how many people did the same. A fair number, I suspect. How it impacts them in the long run, we'll see. Brent may have bigger problems still, although it's sure been a long time in the works.

[RCMcKenzie]

I looked and surfed away when I saw a Luca Doncic for $780,000, which is not really on my want-list. Maybe if he was a little bit better player.

On the vig. You factor in 30% for tax and commission. With all the debate, I realize that I'm often the underbidder because the winner doesn't know how much they are paying for the card. Happy Holidays, gang.

[Eric72]

Originally Posted by RCMcKenzie

...I realize that I'm often the underbidder because the winner doesn't know how much they are paying for the card...

I've been there quite often.

This may be the reason for buyers' angst over the BP. They feel as though their high bid didn't win because somebody paid the "didn't read" tax.

[Peter_Spaeth]

Originally Posted by Eric72

I've been there quite often.

This may be the reason for buyers' angst over the BP. They feel as though their high bid didn't win because somebody paid the "didn't read" tax.

Far more likely, you lost to someone who wanted it more than you did.

[Brian Van Horn]

So, I'll charge PWCC 20% of my bid.

[Eric72]

Originally Posted by Peter_Spaeth

Far more likely, you lost to someone who wanted it more than you did.

Fair enough. I'm not one of the angry buyers to whom I referred in my post, though. I just tried to figure out the psychology.

The BP (and sales tax, shipping, insurance, etc) is something I take into account when bidding at an auction. My estimates are fairly accurate and I enter everything in Excel before extended bidding starts. That way, I can adjust on the fly.

Am I willing to pay X? I'll enter that number in the appropriate cell and it will recalculate my max bid.

The next bid increment is Z? I'll enter that number in the appropriate cell and it will recalculate all-in cost.

I think there are bidders who don't think things through. They'll have an "oh, $#!t" moment later, followed by a dash of buyer's remorse.