Did anybody else snipe tonight's pwcc?

[Casey2296]

I've always been interested in consumer neuroscience so watching a pwcc auction is fascinating to me. One of the best books I've read on the subject is "why we buy what we buy" which explores the dynamics of emotional purchase. Perfect for the baseball card game.

So I was watching tonight observing auction behavior and hoping to find one of my checklist items at good value. The nouveau rich money seems to be fascinated with +8 grading no matter what the condition of the card is.

For example: there were two 66T Mays on the block, an 8 and a 5.5, the 8 was at 2k the 5.5 was at something like 175 bucks. I'm not sure where they ended up but if I can pay a couple hundred bucks for a clean well centered #1 Mays as opposed to 2k for what? A little sharper corners? Ok.

The thing about pwcc is they roll out so many Squirrels for the new money to chase that one can pick up a great deal in the quiet space of an auction.

I picked up 5 cards tonight for what I thought were incredible deals, mostly early 60's topps, but I did pick up one pre war card that's been on my list for years at what I consider a bargain price.

I'm interested in other members thoughts on the mental/emotional dynamics of an auction like pwcc runs.
Phil Lewis

[oldeboo]

Just speaking about the hobby in general and auctions.

Using your example of the 66T Mays, you can buy that card at any price ranging from about 10 bucks up to the 8k range in a mint 9. There are people that have very deep pockets that want the best and many strictly focus on the number on the holder for registry sets. On the other end of the spectrum there are people with less money or even people that just aren't that fussy about condition. It's the beauty of this hobby I think. We all can find a place somewhere on that spectrum. Personally, I enjoy high grade cards while at the same time enjoy and appreciate beat up cards that were well loved and tell a story. Some won't go higher than a certain grade, some won't go lower for reasons such as money, preference, or whatever. Do you want the same card in a lower grade for about the price of a cup of coffee or do you want that card in a higher grade for about the price of a decent used car? It's just how it works.

As far as auctions go, they are just simply unpredictable. The 8 you are referring to sold for over 3k I believe. Just less than 2 weeks ago an 8 hammered at a little over 1.4k. Did the value really go up that much in that period? Doubt it. I didn't look at either card, but maybe you can assume the one had nicer eye appeal, better centering, etc. Then throw in the unpredictability of auctions with people throwing money around to win just to win regardless of price. Oh and shill bidding is a whole different topic, but that exists.

[Casey2296]

Great observations, Ive always been an eye appeal buyer and my centering OCD won't let me buy anything out of kilter. I come from the WC/MC so my buying habits have always leaned towards Middle class grades, and I love it. Cards that have been used are way more appealing to me.
For example, I lost out on a Goudey Nm7 Pennock because I wasn't willing to go past my bid but 2minures later I won an iconic card that I consider a steal.
Shills gonna shill and that is a separate argument but if you don't go past your price the shills don't affect you.

[philo98]

I was watching the pwcc 1960 topps clemente psa 8 and put in a snipe of around $690 which I thought was on the high side. However never needed my snipe. Someone put in with a few minutes to go a bid for $912 and then someone went on top of that at $922. Completely insane prices. Looking at the psa auction prices the highest sale in an 8 is around $710 with most in the mid to high $600s.

[toledo_mudhen]

Dont participate in most of their auctions but this one is a really nice card that I needed to fill a hole. Looking at bid history this morning - Is this normal? No one else shows any part of username?

private listing - bidders' identities protected $747.00 28 Oct 2020 at 6:49:12PM PDT --
private listing - bidders' identities protected $727.00 28 Oct 2020 at 6:49:10PM PDT --
private listing - bidders' identities protected $707.00 28 Oct 2020 at 5:02:36PM PDT --
toledo_mudhen $700.69 28 Oct 2020 at 4:33:09PM PDT --
private listing - bidders' identities protected $677.00 28 Oct 2020 at 4:56:21PM PDT --
private listing - bidders' identities protected $657.00 28 Oct 2020 at 4:30:42PM PDT --
toledo_mudhen $650.09 23 Oct 2020 at 5:31:02AM PDT --
private listing - bidders' identities protected $637.00 28 Oct 2020 at 4:30:27PM PDT --
private listing - bidders' identities protected $617.00 28 Oct 2020 at 4:30:19PM PDT --
toledo_mudhen $600.09 21 Oct 2020 at 2:22:37AM PDT --
private listing - bidders' identities protected $556.67 28 Oct 2020 at 3:47:17AM PDT --

[swarmee]

PWCC started making their auctions Private a few days ago. It was mentioned on this board as a way to cover up more fraud. You know, from those salt of the Earth sunlight loving guys up in Oregon...

[oldeboo]

It shows the same for me on all of their listings. I've never seen or noticed that anywhere else. Maybe it's some sort of back door deal with Ebay since they make them so much moolah. I don't sell on Ebay, so not sure if that's an option for all sellers.

[Johnny630]

Originally Posted by philo98

I was watching the pwcc 1960 topps clemente psa 8 and put in a snipe of around $690 which I thought was on the high side. However never needed my snipe. Someone put in with a few minutes to go a bid for $912 and then someone went on top of that at $922. Completely insane prices. Looking at the psa auction prices the highest sale in an 8 is around $710 with most in the mid to high $600s.

That's Ridiculous......... will this same card be relisted in a couple of months. Be on the lookout for it.

[Exhibitman]

Interesting OP. Bidder psychology is a fascinating field and in a legitimate auction setting the combination of the auction rules and psychology can allow for some interesting strategies. I don't see PWCC as a good test case, though, because of the rampant shilling and the resulting perception of shilling among many potential bidders. One reason I stopped compiling prices for my guides was that the Mastro-Legendary-PWCC-Probstein business models made the data misleading.

When I look at what a card costs, I take the PWCC 'sales' with a huge grain of salt; when I analyze card prices I cull the PWCC data (and usually the Probstein data) from the numbers and use the remaining sales as my data points. If you are looking at PSA cards, the auction prices function on the site makes it pretty easy to do that since the sellers are ID'd.

[philo98]

Originally Posted by Johnny630

That's Ridiculous......... will this same card be relisted in a couple of months. Be on the lookout for it.

Exactly, it may come around again. That bid was actually more than the BIN price for the same grade and card and most of the BIN prices are pipe dreams.