Where is the Best Place to Sell High end Cards and Why? I have a card worth around $15K USD and want to make sure I get the most out of it.
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Questions people will ask to help guide you:
Are you looking to sell at a fixed price or take the chance at an auction?
Are you concerned about having to pay income tax on the sale?
Are you located in the USA or elsewehere?
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i think that Hige End cards sell themself, so its not about IF they will sell or at what cost(you said 15K so i figure you know the market price and wont get any lower)
you should just check the commission in the popular sites
goldin
heritage
PWCC
ebay obviously.
you can try also all kind of consignment services but the fees will be just Ebay+?
but the BEST rate you can get is sell it locally
I unfortunately live in a City with a population of ~275K in Canada so I haven’t had luck selling locally. Will I get a better price on Ebay or PWCC?
I am willing to take a chance at an auction.
Will I have to Pay Income Tax?
I am located in Canada.
I live in Canada, and this was the best I could find out for tax info. There’s nothing that really suggests ‘trading cards’ for taxes specifically, but I would assume the tax implications would apply based off this:
However, there’s still been nothing legislated in Canada that applies taxes to trading card sales specifically that I know of so this is simply an assumption that it would be treated like art and other ‘fine prints’. There has been changes in the US in the past year though from what I understand. It’s still pretty unregulated in Canada under our tax system it seems.
This is above my pay-grade, but can’t you bypass certain taxes by sending a card like this to a vault?
It is income so you are expected to self-report it. Typically in a salary situation, your employer will file a T4 on your behalf so the CRA will know how much income you have. In this case, you are effectively the boss and so any income you generate is on you to disclose it.
In the US, if you sell past a certain threshold ($600 I believe) companies like Ebay, PayPal, PWCC will send the IRS a similar form disclosing your income. As far as I’m aware, this is not something that happens for Canadians (yet) or at the very least, I have not personally hit a threshold that would be reported to the CRA.
So the TLDR is that the CRA will very likely not know about this income unless you tell them. Do whatever you want with that information. Importantly, not reporting this is tax evasion.
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If you don’t have an established eBay account with high feedback, i’d suggest consigning with someone in the US. Smpratte does auction consignments and typically achieves good prices, or KetchumAllCollectibles does Buy it Now consignments. Both would be good options imo.
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Do you think consigning on Ebay will get me more than PWCC?
Lets get back on topic of the best place to sell and not tax lol.
I think PWCC is a good option. Over 10k you should be only paying the equivalent of 10% in fees. They also handle the fulfillment part so you have less exposure to scammer buyers. You can also keep your money on your account and use it to buy other cards if that appeals to you.
Their auction and payout cycle can be slow though so if you need the money ASAP not the best option.
Sometimes it’s not about how to get max dollars but rather max value. It’s impossible to predict where you will get the highest bid.
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Taxes and fees are going to affect a sizeable chunk of your net! I think it’s a valid thing to discuss, plus I’m genuinely curious if any others have experience with the vaults and selling from those
edit: @pfm this is good to know!
PWCC sends out 1099’s now.
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What’s a 1099 
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Its a giant mega one of these
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It really depends. In my experience, I have seen eBay sales go higher than PWCC +/- 10% or so, but in other cases I have seen PWCC sales go higher than eBay sales. You could go through consignment through a variety of sellers on eBay (Probstein123, TCA_Gaming, smpratte, etc) and get potentially more exposure than PWCC as it seems like eBay has a little more visibility and potentially more buyers as a result. With consignment, the seller will deal with the sale for you, but takes a % of the sale to do this for you. PWCC does essentially the same thing.
Don’t most eBay consigners only charge 10%?
So you’re saying there’s not much difference between PWCC and eBay on Average? No Pro or Con to either. Besides a little more visibility on ebay.
Do they even if I am Canadian? Does eBay send out anything like this?