Analysis of PWCC Vintage Auction 10/13/19

[perezfan]

Originally Posted by Rhotchkiss

I have not bid in any pwcc auction since June, and I expect that I will continue to do so until I see changes in their auctions and practices. Admittedly, they have produced no true “must haves” for me since June (a Brown Lenox), so it’s been easy for me to sit on my high horse on the sidelines. Generally speaking, Buyer or not, I am now highly skeptical of any high-grade and/or high-value card in a pwcc auction. I would have much more confidence in the card if offered by another AH. And, if I do again buy from pwcc, it will likely be super rare items and not high grade items and/or fairly common items.

For me, it's a "hard no" as well. Blowout just keeps exposing PWCC with card after card that's been altered/resubmitted with no perceptible end in sight. So I'm neither willing to take that chance, nor choose to support a company that engages in deceit.

The comment below was taken from the Better Business Bureau website, and was made back on Feb. 28 of this year. I believe that's well before the "scandal" was publicized, so this is pretty darned insightful (IMHO)...

Paul O

★★★★★
★★★★★
02/28/2019

Shady sportscard consignment service that operates as a quasi investment firm. Without formal training or education this group runs several scams that takes advantage of hobbyist. When their not asking for customers to invest in their straw built company, They’re using capital received from selling customer consignments to fund their illegal lending program to fund other customers, collecting fees and interest without proper government regulated licenses or permits. A full time “robbing Peter to pay Paul” operation. They have created meaningless standards and scales which confuse collectors into paying premiums over market value, trying to force their way into the grading market with their “eye appeal scale” which has no value and is completely subjective. By inflating prices in this way—with smoke and mirrors—they continue to expand and profit at the expense of the collector.

[Leon]

I honestly don't know how anyone can buy a really high end, graded pre war card, and not have some doubts. It is too bad that greed has made it this way. I am all for making profit and capitalism and all of that. But the fraud is just wrong. Still hoping whomever is guilty gets their just dues.