PWCC vault?

[Peter_Spaeth]

Lots of things that are set up to avoid or reduce taxes seem more form over substance. It's hard for me to believe PWCC is out there publicizing this without having vetted it with legal and accounting advisers. Then again...

[bbsports]

I received the same e-mail from P.W.C.C. They mean well, but as a N.J. resident, this state are very strict about their state tax so I would not be interested in putting my cards in a their vault. Also, heaven for bid, something happens to the company or the state steps in & cleans out what's in the vault? I can be affected. You are correct, this should not be brought out out publicly. The whole idea is too risky for me.

[frankbmd]

I’ve been fortunate to visit 49 states in my lifetime missing only Oregon.

If I pack up my collection and send it to the vault, would I be able to visit them???

If not, I’ll just send them to Zimbabwe? I’ve never been there either.

The idea of a remote collection intrigues me.

[bobbyw8469]

I don't know what to think about this vault. What happens if you die and no one knows what is in "the vault". I mean, it's an interesting concept. Just too many unkowns.

[ullmandds]

Originally Posted by bobbyw8469

I don't know what to think about this vault. What happens if you die and no one knows what is in "the vault". I mean, it's an interesting concept. Just too many unkowns.

it's kinda similar to the idea of owning a part of a card?

Personally it's not something I'd be interested in...more of a concept for "investors."


If you buy a high buck card from PWCC...save on taxes intially...with the intent to resell through PWCC at a later date.

[Peter_Spaeth]

Originally Posted by ullmandds

it's kinda similar to the idea of owning a part of a card?

Personally it's not something I'd be interested in...more of a concept for "investors."


If you buy a high buck card from PWCC...save on taxes intially...with the intent to resell through PWCC at a later date.

Right -- you never have to see or touch the stupid card. It's just an asset on a balance sheet.

[ullmandds]

Originally Posted by Peter_Spaeth

Right -- you never have to see or touch the stupid card. It's just an asset on a balance sheet.

exactly!!

[bobbyw8469]

Originally Posted by Peter_Spaeth

Right -- you never have to see or touch the stupid card. It's just an asset on a balance sheet.

Wait...cards are stupid??

[Fuddjcal]

Originally Posted by Peter_Spaeth

Right -- you never have to see or touch the stupid card. It's just an asset on a balance sheet.

A trimmed asset that never leaves the vault, how stupid can people be? Very stupid apparently.

[tschock]

Originally Posted by bobbyw8469

I don't know what to think about this vault. What happens if you die and no one knows what is in "the vault". I mean, it's an interesting concept. Just too many unkowns.

.... and can someone with a bottle of Peach Schnapps open "The Vault"?

[Luke]

Originally Posted by tschock

.... and can someone with a bottle of Peach Schnapps open "The Vault"?

Can't believe this got no love

[Peter_Spaeth]

Originally Posted by Luke

Can't believe this got no love

Where's Sloate the great Seinfeld fan?

[perezfan]

Originally Posted by bobbyw8469

I don't know what to think about this vault. What happens if you die and no one knows what is in "the vault". I mean, it's an interesting concept. Just too many unkowns.

That's why we have Geraldo Rivera. He can make amends for the Al Capone fiasco, and your cards might even get some TV exposure.

[Republicaninmass]

Wheres Dpeck? How can these guys be selling unsecured " investments" with no license, private placement memorandum, etc. Seems like a whole lotta good ideas, poorly executed .

[Bradyhill]

Maybe everyone should try to understand what services come with the vault before turning negative. Everyone seems to be such know-it-alls before knowing the facts. The vault’s primary mission is not a sales tax avoidance initiative. I’ve personally seen the Vault and believe the business strategy behind it is brilliant. Just my opinion from someone who owns and runs a very large business. And yes, I will take full advantage of these services. Do what’s right for you and draw your own conclusions.

Brady

[Dpeck100]

Originally Posted by Republicaninmass

Wheres Dpeck? How can these guys be selling unsecured " investments" with no license, private placement memorandum, etc. Seems like a whole lotta good ideas, poorly executed .

I am generally in favor of what PWCC is doing in the hobby but the only thing so far that has me scratching my head is this.

I am not certain how they can be giving investment advice on cards and treating them like securities and not have some form of oversight.

There were a lot of people trying to do similar with the crypo currency market and the SEC stepped in.

In a thread on CU we discussed this and one thing that stuck out to me was when a person using their advisory service was quoted as saying Brent told me not to bid on that card and wait for another one. To me this is just like a realtor saying don't bid on the house I am selling. When you agree to sell someone's trading cards you are obligated to them and to try and achieve the best selling price. I find this scenario as a major conflict of interest and something I believe needs to be more well thought out.

I will just add I don't know Brady Hill personally but if anyone follows high level collectors at all the guy is a whale.

[Baseball Bob]

I totally agree that this sounds like crap that happens before a collapse. Reminds me of the dot.com bubble and the “new economy” spew that was going on at the turn of the century. Look out below!!! Maybe hide in the vault until the crash is over??

[ullmandds]

oy gavault!

[Lorewalker]

Originally Posted by Peter_Spaeth

It's hard for me to believe PWCC is out there publicizing this without having vetted it with legal and accounting advisers. Then again...

Ya think? https://www.pwccmarketplace.com/vault Only concept they highlight is the sales tax-free state. See for yourself.

Dunno about anyone else but I would feel much better leaving my stuff at home or at a bank.

[Peter_Spaeth]

They now also offer investment advice.

https://www.pwccmarketplace.com/investment-advising

[KingFisk]

Originally Posted by Peter_Spaeth

They now also offer investment advice.



https://www.pwccmarketplace.com/investment-advising

This all really feels like the excess before the collapse.

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[bobbyw8469]

Originally Posted by KingFisk

This all really feels like the excess before the collapse.

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I'm with you Carl.....Does any other collectible do all this?? Comics? Coins? Art???

[steve B]

Originally Posted by bobbyw8469

I'm with you Carl.....Does any other collectible do all this?? Comics? Coins? Art???

From what I've heard, most dealers/auctions at the high end of things regularly work with clients to help them build a collection that meets their goals. If those goals are primarily investment related then that's what they do.


A good regular brick and mortar dealer does the same thing, just at a lower level, and with less formality. The guys I used to go to back in the day would occasionally hand me a Goudey Ruth and tell me "this is $100 you should buy it" Sadly that was advice I never took.

[Snapolit1]

I have a PO Box in the Dominican Republic. Anyone wants to list me as the owner and have high priced cards sent directly to my "vault" please reach out for details. And I will charge a small price for this service.

[KingFisk]

Originally Posted by steve B

From what I've heard, most dealers/auctions at the high end of things regularly work with clients to help them build a collection that meets their goals. If those goals are primarily investment related then that's what they do.





A good regular brick and mortar dealer does the same thing, just at a lower level, and with less formality. The guys I used to go to back in the day would occasionally hand me a Goudey Ruth and tell me "this is $100 you should buy it" Sadly that was advice I never took.

That all makes sense, but the PWCC Investment Advisory board, complete with Merrill Lynch looking photo is a bit much. I'm not saying it's predatory, but it feels a wee bit over the top. Would like to see their bona fides.

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