Quote:
Originally Posted by Peter_Spaeth
Maybe PWCC can do derivatives next. I'm wanting to buy May 2022 call options on Ja Morant PSA 10 Prizm rookies.  |
Ha!
Why not, they're already doing the equivalent of margin loans.
And I even said elsewhere I wouldn't be surprised to see them at some point have people just open accounts with them and deposit money into it, and then they go out and buy cards (or even partial interests in cards) for those people because they don't know what cards to buy themselves. These people could even use loan money from other items in the vault to put the cash in these "investment" accounts, and really make them margin accounts. And if they had enough people with enough money looking to do this, I could easily see them pooling such funds to buy these people something like the restored Wagner in the SCP auction. They wouldn't necessarily need to charge any type of investment fee as they'd eventually get the buyer's commission when they ultimately sold the card(s) they bought. Plus I'm guessing there is an interest charge on the loans.
However, doing things like derivatives or investment type accounts, where they pick and choose cards for people, may actually cross a line to where they would have to legally register as some type of investment advisory firm, have employees get licensed, and the whole nine yards. Somehow, I don't think they want to go down that rabbit hole, at least not yet. LOL