It is my opinion that some sellers are trying to take advantage of Fanatics Collect BINs by making fake sales to affect the consignment rate that they will get and the sales history of their item.
For example, someone “bought” this Meiji Ancient Mew for $9,985, despite two copies being available for under $1,500 on Fanatics and eBay.
Because they made this fake sale, they now get a cheaper consignment rate because it’s a “Great Deal” and they can scam other customers into believing the fake sales history.
Another example is this Meli Art Academy Pikachu. It was “sold” twice in a span of three days to manipulate the Card Ladder and Sales History price, and then relisted this week for, you guessed it, $7,500.
What’s the incentive here?
Person A and B are the same person:
A sells for $10,000, pays fees
B lists for $10,000 at lower consignment rate
Person C buys it, B gets paid. How do they make money? Didn’t they pay fees from A to B already? In theory if no one buys the inflated price fron B, they lose a ton of money in fees
After paying Fanatics their cut (12%), $1,200 in the case of a $10,000 card, they relist with hopes that they’ll sell the card again for many thousands of dollars and recoup their initial scam “investment.”
Now on their second sale, they’ll get 6% back because the card is listed as a “Great Deal.” So even if they sold it at $3,000, they’d get $2,820 ($1,620 profit).
Of course, this only works if they make a strong sale and their cost-basis isn’t enormous. Seeing that many of these are older certs, it’s possible that their cost basis is quite low.
Someone “bought” one of my high grade goldstars at ~3x the price but never paid for it. I think it took like a week or two to be canceled for non-payment but in the meantime it showed up as a sold listing
Another one. This one shows a valid price history on Fanatics Collect and is listed in their sold section, suggesting that it was actually paid for. If true, it would be a $5,000 gamble (12% payment to Fanatics Collect) to gain tens of thousands in profit.
idk how this is supposed to work for the gambler because idk anyone who takes pwcc fixed price sales seriously basically like that $2M illustrator sale kenny boy claims is real
Playing advocate of the devil here, but if they buyer pays the 12% fee, shouldn’t that be considered a legitemate sale? Even if they list it higher afterwards, it still sold and the fee was paid. The same could be done on ebay, not sure if the fees are higher there or not though.
PWCC was banned from ebay for creating a competing marketplace and “shill bidding” was the convenient reason provided. All consignors deal with shill bidding.
basically like that $2M illustrator sale kenny boy claims is real