Goldin Vault

[BobC]

Originally Posted by Peter_Spaeth

PWCC says it received $100 million in vault submissions at the National. Business is good! According to my math and their report of 7800 items, that works out to a staggering 12K per item.

Hmmm....at that value I would initially think that no sales tax would have had a lot to do with those vault submissions. But if these were submissions they received at the National, the owners would have already paid any sales tax due, so that can't be it. Would guess these submissions are mostly by flippers or others looking/expecting to sell in the near future, and not by more traditional collectors then who would more likely want actual/closer possesion of their valuable cards. Assuming they plan to use PWCC then for eventual sale, and likely made the submissions at the National for ease and convenience since they were going to be there, and then not also incur the cost/risk of having to mail their items to PWCC in Oregon. And some submissions could have been from acquisitions made at the National for real convenience.

Personally, unless I was using it to get around sales taxes, or planning all along to consign items to PWCC for sale at some point, I just don't see the attraction or advantage of using PWCC's "vault". Is there something I'm missing and not seeing/realizing that would be attracting such sizable submissions to PWCC at the National then if it was not simply for convenience or to save on sales taxes, especially in light of some of the questions and potential issues that have been discussed in this thread?