PWCC has been acquired by sports market company Fanatics

Just things I would do if I was a director at eBay and wanted 99% of marketshare.

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Only one more consolidation away from virtually all marketplace, vaults and grading companies being the same thing

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I thought that this used to be the case for PWCC until they were directed by the feds to hand out 1099-Ks. Is that right?

You are correct. eBay could work something out with the feds to only issue 1099s if the payments for sold cards are sent out. It would save everyone work, including the IRS.

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Fanatics has a $30b market cap and tons of cash. Not sure why this is considered bad for pwcc users. My assumption is Brent and Betsy will remain at the helm and it will be business as usual. I’m sure we will see some Topps/CGC/PWCC grading/vaulting specials next year

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Doubt that this will ever happen. The feds are increasingly trying to lower the 1099-K limit and go after hobby sellers. :person_shrugging:

But it’s definitely a wish!

What I don’t get is pwcc is an auction site so why didn’t they just auction themselves off?

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nice.

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They did, just not publicly.

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They have less eyes already than other auction sites so not even listing was a pretty woman moment :wink:

Ngl, the comments about PWCC letting a bunch of people go, and potentially having money problems had me concerned. This news means it probably debunks those concerns, so honestly I’m a bit relieved

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I would love for that to happen, meaning Brent and Betsy remaining and things to be the same. Having been involved in selling a past business, or take TCG player’s recent sale to eBay for the most recent example, my experience is there’s generally a clause of some sort written in for management to stay on for a transition phase, before leaving. Often, some, or many of the existing team leaves because theres often a reorganization with new leadership. Sometimes, by the time the sale is made public, things have already been in the works for a while - hence:

I would expect resources are being pooled/aligned, several key managers from Fanatics are most likely already in place to take the helm and work with Brett and Betsy, before I would assume is their inevitable departure… and PWCC starts on a new course.

I agree with PFM:

I think the future will depend on how Fanatic generally operates their brands. Do they seek to be best in class or innovative… or profit driven? Based on what others are saying, it looks to be the later, which may not bode well for the long term. Basically, they acquired the intellectual property and added to their portfolio, so only time will tell what their vision is for PWCC.

I do think this means things will be OK in the short term. Meaning I don’t think they will turn into the next ludkins - and just stop responding and hold all our cards hostage. As we’re all experiencing, it’s fair to assume there will be some more bumps through the transition - shipping delays while teams are replaced, backend systems are aligned, etc. - so the real test will be in the next 2-6 months when the dust settles.

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fanatics is legitimately bottom of the barrel for anything consumer facing in the sports world.

Is there competition though?
Can you name something PWCC or Goldin have done that have made their services/vault better than they were 365 days ago?

edit - vault/services

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It’s a vault. Not sure what is supposed to be Improved.

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A paid service where you can get the 360 degree scans done of your cards would be nice

Fee free card transferring between people would also be nice

A way for ā€œtradesā€ to be done within the system for a middleman type trade would be nice (where you and someone else can essentially ā€œswapā€ cards without having to rely on trust)

Public galleries would be dope, for people who want to publicly show off cards but not have them listed for sale

A tracker with estimated fulfilment dates and where you are in the queue would be cool

An easier way to see who your current buyers rep is so you know who to email

Confirmation screens for large vault to vault transactions (one time my rep transferred a 30k item into my vault and slapped me with an invoice without me even seeing the item)

Easier integration with grading companies (I got some things sent from my vault to be graded with BGS and this took about 30 back and forth emails, even though this is a service they offered to me, I didn’t ask them for it)

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Free candy with each purchase?
I mean sure, there is always improvement.
The vault service is already free though, which would only be temporary at first.
Maybe the competition made sure it is now free for the long term?

None of the vaults are free, they all have strings attached with consignment requirements or exit fees.

I have no problem with fees, but lets not think that keeping things in the vault is free.

Also none of my suggestions are particularly unreasonable, so I find your free candy comment a tad disingenuous

Also most of my suggestions actually generate revenue

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The free candy was just a joke, I meant no offence. I know your suggestions were serious and helpfull and I agree some could be even implemented quite easily.

Of course there are costs, it is a company, not a community service.

Give it time and hopefully the services will improve and costs go down, with a healthy competition. I’m just already quite pleased with what they offer.