PWCC vault...explain

[Lorewalker]

Really...if you want to offer a service to store our valuable cards then why are these entities only doing it in states that have no sales tax? Were all the other states fresh out of room for a vault? Total silliness to call it anything other than what it is.

[Johnny630]

The art of the fluff push up certain cards bought in larger quantities by investors buy the under cards push one high then higher then list the 8’s and 9’s relist pump and refresh creating a higher and higher comp while
profiting off the undercard which were already bought up by the investors…I give them credit it worked for a good long while…vaults have other collateral purposes…

[swarmee]

Originally Posted by Lorewalker

Really...if you want to offer a service to store our valuable cards then why are these entities only doing it in states that have no sales tax? Were all the other states fresh out of room for a vault? Total silliness to call it anything other than what it is.

COMC is a vault service that pre-dates PWCC's. And it is in Washington state, which has sales tax. So they're not all created for that reason.

[GregMitch34]

thanks for the lengthy reports

[BobC]

Originally Posted by swarmee

COMC is a vault service that pre-dates PWCC's. And it is in Washington state, which has sales tax. So they're not all created for that reason.

Very true, but with PWCC, they expanded the original concept/idea to take advantage of people's greed to attract more potential customers/clients/consignors with the possible sales tax savings. And then adding in the possibility of loans on cards held in the "vault", they pushed things even farther to attract more people. COMC never went to that level, they did their concept to make it easier for people to consign and sell. PWCC's efforts and additional push to expand their customer/consignor base is also why you'll more likely see cards selling for thousands, and even tens of thousands of dollars, on PWCC, but very unlikely ever sold for such prices on COMC.

I could be wrong, but they seem to be going after somewhat different markets, even though they are both into selling cards online. Your comment is still very true though.

[chjh]

"And then adding in the possibility of loans on cards held in the "vault", they pushed things even farther to attract more people."

Nothing wrong with asset based lending.

Most AH provide loans against cards. Most industries offer asset based lending. PWCC doesn't require the loan. They only offer it as a service if someone needs it.