ebay finds that PWCC engaged in shill bidding?

[BeanTown]

So for those PWCC customers who want to take their items out of the PWCC vault, will that create a taxable event?

[conor912]

Originally Posted by BeanTown

So for those PWCC customers who want to take their items out of the PWCC vault, will that create a taxable event?

Unless you live in Oregon, I would sure think it does!

[JollyElm]

251. Standing Shill
The BS involved with ignoring the fact that illegitimate bidders screw everyone over and drive prices fraudulently upward. It’s usually accompanied by an inane statement such as, “I bid the maximum I’m going to bid and that’s it. Whatever happens, happens.”

[Peter_Spaeth]

So let's assume PWCC prices have been widely inflated AND they have had a gravitational effect on other prices. The whole market is inflated. What's the appropriate response assuming you still want to try to win certain cards?

[Eric72]

Originally Posted by Peter_Spaeth

So let's assume PWCC prices have been widely inflated AND they have had a gravitational effect on other prices. The whole market is inflated. What's the appropriate response assuming you still want to try to win certain cards?

Possible answer:

[butchie_t]

hahahaha this is too funny by a whole lot. Me and my shillness and enabling will continue to stuff the coffers pockets full of money.

I don't see it that way, won't see it that way.

I collect cards by this axiom:

See a card, like a card, buy a card. Don't really matter what anyone else thinks about it either.

Cheers,

Butch Turner

[slipk1068]

Originally Posted by JollyElm

251. Standing Shill
The BS involved with ignoring the fact that illegitimate bidders screw everyone over and drive prices fraudulently upward. It’s usually accompanied by an inane statement such as, “I bid the maximum I’m going to bid and that’s it. Whatever happens, happens.”

Amazes me how many people have that attitude. As long as they put in their max bid, they are unaffected by the fraud. Lets hope that all these enablers and PWCC supporters wind up with a collection full of Moser cards. They deserve it.

[Snowman]

Originally Posted by BeanTown

So for those PWCC customers who want to take their items out of the PWCC vault, will that create a taxable event?

No, it's not a taxable event unless you sell it. At least not with respect to income tax. However, if you purchased items on ebay and had them shipped directly to your PWCC vault, which allowed you to avoid paying sales tax on those transactions since they are located in Oregon, then you will have to pay any applicable sales taxes that you previously avoided when they ship those cards back to you unless you have a resale certificate on file with PWCC.

[Peter_Spaeth]

Originally Posted by Snowman

No, it's not a taxable event unless you sell it. At least not with respect to income tax. However, if you purchased items on ebay and had them shipped directly to your PWCC vault, which allowed you to avoid paying sales tax on those transactions since they are located in Oregon, then you will have to pay any applicable sales taxes that you previously avoided when they ship those cards back to you unless you have a resale certificate on file with PWCC.

Correct. I have been told that you may not owe sales/use tax in some jurisdictions if you wait long enough, but not sure of that. General concept is right. Of course how many are going to pay it.

[1954 topps]

Originally Posted by Snowman

No, it's not a taxable event unless you sell it. At least not with respect to income tax. However, if you purchased items on ebay and had them shipped directly to your PWCC vault, which allowed you to avoid paying sales tax on those transactions since they are located in Oregon, then you will have to pay any applicable sales taxes that you previously avoided when they ship those cards back to you unless you have a resale certificate on file with PWCC.

What if someone in CA wants to save 7.25-10.25% on sales tax. Can they drive up to Oregon, request their items from the Vault in person and commit tax evasion? There has to be something in place to prevent that from happening?

Also, I thought this was genius and timely marketing from the folks at Love of the Game! "When it's time to consign your valuable vintage cards and memorabilia, integrity should be at the top of your list of requirements."
It goes on to say "Your cards are important enough that they shouldn't be locked in a vault for future resale" Wow that's a burn for both PWCC and Goldin if I ever heard one.

[Snowman]

Originally Posted by 1954 topps

What if someone in CA wants to save 7.25-10.25% on sales tax. Can they drive up to Oregon, request their items from the Vault in person and commit tax evasion? There has to be something in place to prevent that from happening?

No, I believe you have to show proof of residence. Although, who knows with PWCC. If the rumors are all true, one might be inclined to assume they have an on-site service set up for you to "move to Oregon" while picking up your cards? Perhaps they'll even file your taxes for you as well? lol

[BobC]

Originally Posted by Snowman

No, it's not a taxable event unless you sell it. At least not with respect to income tax. However, if you purchased items on ebay and had them shipped directly to your PWCC vault, which allowed you to avoid paying sales tax on those transactions since they are located in Oregon, then you will have to pay any applicable sales taxes that you previously avoided when they ship those cards back to you unless you have a resale certificate on file with PWCC.

The idea of their vault is that they want you to leave everthing there in Oregon. That way they figure when you do go to sell, they've got the consignment already. And by leaving all the items in the vault, there is no sales tax issue.

And regarding the resale sales tax exemption certificate, giving one to PWCC doesn't do anything in regards to sales taxes you might otherwise end up owing to the state you live in. You give those exemption certificates to the party you are actually buying from so they don't charge you sales tax. PWCC is merely holding your items for you and has nothing to do with sales tax. Plus, if you used the PWCC address in Oregon to have purchased items shipped directly to your vault, the seller would already know you're in a sales tax free state and not charge sales tax to begin with. You actually wouldn't need to give a sales tax exemption certificate to anyone in that case.

Just saw your post in regards to CA. That must be some special deal they had to cut in order for CA to not come after them for potentially helping people cheat them on sales tax. I know CA taxes are absurd, but this is over the top for even them. So if what PWCC says is true for items shipped to Oregon, what about someone who has a house in Oregon, which they sell and then move to CA with all their furnishings and belongings that they originally bought while in Oregon, and paid no sales tax on. I don't believe CA can come in and then try to charge you CA sales tax on items you originally bought to use in a different state. I'm going to research this some in case PWCC did make some deals with other states besides just CA. That is definitely not how it should working in most every state, and also why i said to check further into each specific state's sales and use tax laws for possible quirks like this. Interesting to say the least.