New PWCC Model - Free Vault

[parkplace33]

I saw that PWCC is now not charging for any cards (valued $50 and over) going into their vault. No processing fee, no storage fee, nothing.

Curious about this change. How do they exactly make money off of this? Am I missing something?

[raulus]

I think the idea is that they lock you into their system. I think it’s only free to get your items out if you sell through their auction channel, so they get their cut when you sell. Plus with any luck the new buyer keeps it there and the cycle continues.

Could also be a sign that they’re not finding as many takers for this service as they had originally hoped.

[CardPadre]

Might just be a little reshuffling of how they make money on it, with the expectation of an overall gain.

It used to be that there was a 1% withdrawal fee when you removed a card from the vault (to ship to yourself or somewhere else) plus the shipping charge. And that 'low' fee still exists if you keep your item there for 90 days or more, but now it is 3% withdrawal fee if removed within the first 90 days.

I think the gain for PWCC on that is through people who buy cards from them at auction or fixed price and send to their vault to avoid taxes and then immediately withdraw them will now pay an additional 2% for that tax avoidance process...which is probably one of the most common uses of the vault.

[1952boyntoncollector]

Originally Posted by parkplace33

I saw that PWCC is now not charging for any cards (valued $50 and over) going into their vault. No processing fee, no storage fee, nothing.

Curious about this change. How do they exactly make money off of this? Am I missing something?

ebay has vault as well may be competition..

[Johnny630]

PWCC VAULT is Basically the ETRADE OF CARDS or as they say "Assets"

[BobbyStrawberry]

When they pay me to use the vault is when I might start to consider it...

[mrreality68]

Originally Posted by Johnny630

PWCC VAULT is Basically the ETRADE OF CARDS or as they say "Assets"

yes they are trying to lock you in and thus get you to buy from them and sell thru them.
THink about it. You sell a card that is in their vault to someone who will buy it and keep it in their vault. and if the buyer is a flipper it goes in a cycle and they keep getting the fees that way. Plus i am sure it is free for now and when it gets popular enough or "fills up enough" they will end free or raise the price level of the cards that are free