New lawsuit accuses PWCC of massive shill bidding

[Peter_Spaeth]

Originally Posted by raulus

Fair enough.

And maybe that's how the business really survived, with the auction platform being more of a side show, with the real action in the shadows.

Not sure if that's 100% true, simply because it seemed like they were running huge volumes of cards through their eBay auction service by 2017 and beyond. But maybe the initial success from all the doctoring helped to jumpstart the auction service?

I think there was certainly a point where the brand was strong enough that it would have done fine had Brent gone straight. And much of that growth was, to be fair, due to his creativity and hard work and vision.

[BobbyVCP]

He did a few bad things but also did a lot of good as well...

[samosa4u]

Was anything ever done during the whole SlabGate scandal ?? Noooope !! And I don't expect anything to happen this time!
Nothing to get excited over, folks!

[jayshum]

Originally Posted by samosa4u

Was anything ever done during the whole SlabGate scandal ?? Noooope !! And I don't expect anything to happen this time!
Nothing to get excited over, folks!

Isn't this a civil case instead of criminal? Isn't it easier to get a favorable judgement in a civil case?

[Peter_Spaeth]

Originally Posted by jayshum

Isn't this a civil case instead of criminal? Isn't it easier to get a favorable judgement in a civil case?

Fraud is subject to a higher standard than the usual civil standard of more likely than not -- typically clear and convincing evidence. But the standard likely won't play that much of a role. Not sure about the second count, I am not familiar with that cause of action.

[parkplace33]

Originally Posted by BobbyVCP

He did a few bad things but also did a lot of good as well...

I think way more bad than good. Hell, they got kicked off EBay!

[BobbyVCP]

Originally Posted by parkplace33

I think way more bad than good. Hell, they got kicked off EBay!

Really you actually believe that is from shill bidding....LOL

[Mark17]

Originally Posted by BobbyVCP

Really you actually believe that is from shill bidding....LOL

Then why?

[BobbyVCP]

Originally Posted by Mark17

Then why?

It is because PWCC started their own auction site that was suppose to be high end only and eBay deemed it as competition...besides the fact that eBay offered to buy PWCC in the area of $200M in stock and it was turned down by Brent...

So because of those issues eBay threw them under the bus and PWCC scrambled to do all their auctions in weekly auction format.

And it would still be owned by Brent for the one little screw up on his part to loan money for card assets in his vault that was mostly basketball and crashing in value...

Then with the shit hitting the fan 2 summers ago he got Fanatics to bail him out and assume all his debt, etc

[Peter_Spaeth]

I presume Alt is getting its information from one or more former employees. It would be very interesting to know how much they really know, how credible they are, whether they have any documentation corroborating their claims, and so forth. One has to assume a reputable lawyer had a good faith basis to bring the claim, but that's a far cry from being able to prove it with credible witnesses and admissible evidence. It also will be interesting how many records Fanatics retained when it took over PWCC.

PS the FBI investigation is irrelevant. This is now a private civil dispute and the issue is, assuming no legal defects that would result in dismissal of the claim, the plaintiff can prove its case.

[Mark17]

Originally Posted by BobbyVCP

It is because PWCC started their own auction site that was suppose to be high end only and eBay deemed it as competition...besides the fact that eBay offered to buy PWCC in the area of $200M in stock and it was turned down by Brent...

So because of those issues eBay threw them under the bus and PWCC scrambled to do all their auctions in weekly auction format.

And it would still be owned by Brent for the one little screw up on his part to loan money for card assets in his vault that was mostly basketball and crashing in value...

Then with the shit hitting the fan 2 summers ago he got Fanatics to bail him out and assume all his debt, etc

So, he went from turning down a $200,000,000 offer to giving it up in lieu of getting bailed out.

One little screw up, indeed.

[Peter_Spaeth]

Originally Posted by BobbyVCP

It is because PWCC started their own auction site that was suppose to be high end only and eBay deemed it as competition...besides the fact that eBay offered to buy PWCC in the area of $200M in stock and it was turned down by Brent...

So because of those issues eBay threw them under the bus and PWCC scrambled to do all their auctions in weekly auction format.

And it would still be owned by Brent for the one little screw up on his part to loan money for card assets in his vault that was mostly basketball and crashing in value...

Then with the shit hitting the fan 2 summers ago he got Fanatics to bail him out and assume all his debt, etc

Bobby do you know this to be true or are you assuming this was the real reason? Not meant as cross exam, just curious.

[Johnny630]

The money was made on the undercards in lower grades… many of
those I believe were real sales…people got dupes. Guys loved it…it gave many the perception that their collection was worth way more than they had ever imagined….the illusion put the hobby to new levels.

[G1911]

Originally Posted by ClementeFanOh

"Presented without comment"- except for the FIVE comments after it. Some
people just can't help themselves...

Trent King

net54- the place where some people think that verbosity equates to quality

Originally Posted by Snowman

Lol. Good luck with that, Alt. Idiots gonna idiot.

Anyone want to place a side bet on how this one turns out? Zero chance of Alt winning is my position.

Originally Posted by BobbyVCP

He did a few bad things but also did a lot of good as well...

Originally Posted by Balticfox

You fascist son-of-a-bitch! What the hell is it about INNOCENT until and unless convicted in a court of law that you either don't understand - or simply don't like? It's not only the cornerstone of our legal system but is a fundamental bulwark against the overarching power of the State. Without that fundamental bulwark any and all of us could and would be put away simply because we hold "inconvenient" political views. See the Soviet Union. My own uncle was taken to Siberia where he perished.

Any lawyer who doesn't embrace the principal of INNOCENT until proven guilty wholeheartedly without any ifs, ands or buts should be disbarred immediately.

This thread is going to be a gold mine of intelligent, reasoned takes. We're barely to page 2!

[Exhibitman]

Originally Posted by Peter_Spaeth

I think there was certainly a point where the brand was strong enough that it would have done fine had Brent gone straight. And much of that growth was, to be fair, due to his creativity and hard work and vision.

The assets were decent, the brand was a POS. Fanatics tried to wash the dog crap stench off the PWCC sneaker but ended up having to throw it away and rename because the filth had been ground too far into the treads.

I don't know "Alt" from "Shift" or "Command" but it sounds like Alt is a bunch of speculators who got caught with their pants down when ultramodern tanked and are looking for someone to blame for it.

Oh, and Baltic Fox, you're not even subject to our legal system; stop being a troll. Happily adding you to my "ignore" list.

[tjisonline]

Originally Posted by Exhibitman

I don't know "Alt" from "Shift" or "Command" but it sounds like Alt is a bunch of speculators who got caught with their pants down when ultramodern tanked and are looking for someone to blame for it.

Bingo. ALT is the Fredo of marketplaces.

[Balticfox]

Originally Posted by Exhibitman

Oh, and Baltic Fox, you're not even subject to our legal system; stop being a troll.

I'm sure I'm not the only one who's noticed that the posters most likely to label others that way are the ones who best fit the definition.

Originally Posted by Exhibitman

Happily adding you to my "ignore" list.

Good! Perhaps now you'll have more time to actually contribute to this board. You know, with threads/posts such as these:

https://www.net54baseball.com/showth...hlight=Savelli

https://www.net54baseball.com/showth...ght=Etcheverry

https://www.net54baseball.com/showth...hlight=Savelli

[samosa4u]

Originally Posted by Exhibitman

I don't know "Alt" from "Shift" or "Command" but it sounds like Alt is a bunch of speculators who got caught with their pants down when ultramodern tanked and are looking for someone to blame for it.

Let's say that card prices kept going up and Alt made some nice profit over the past few years. If some ex-pwcc employee told them about the "buyer's group" and what they were doing, then do you think that Alt would've just let the whole thing slide ?? I doubt it.