PWCC Marketplace, the leader in the trading card investment market, is bringing more closing dates to investors in 2022 with the launch of its Weekly Auction – a new offering replacing the company’s monthly format and featuring new auction optimization technology. The demand for additional closing dates became apparent after three record-breaking months on the PWCC Monthly Auction platform.
“The Monthly Auction format we launched three months ago exceeded even our most optimistic projections,” said Jesse Craig, Director of Business Development at PWCC. “The number of new bidders and sellers, the number of items we’ve had up for auction, the number of bids, and the sales figures have all been exceptional. To respond to the demand we’re seeing, we’re replacing the monthly format with a Weekly Auction that gives buyers and sellers more opportunities to engage with the market.”
52 Weekly Auctions
The new weekly format launches in January 2022 with all categories – sports cards, collectible card games, memorabilia, unopened wax, coins, video games, comics, and more – heading to the auction block every Thursday. Standard closing days will be 10 days later, making every Sunday a closing day for all items. PWCC will host 52 Weekly Auctions every year.
All operational benefits of the PWCC platform developed over the past three months remain in place in the Weekly Auction format, including high resolution imagery, access to the PWCC Vault and Oregon’s zero percent sales tax, and the Extended Bidding format – which eliminates the “bid sniping” problem typical on other auction platforms. All assets remain linked to an individual’s PWCC Vault and provide clarity on insured values and auction tracking.
One new operational element to the Weekly Auction will be a standardized, 20 percent Buyer’s Premium (BP) across all assets. The BP will be calculated up front and displayed clearly on the platform, ensuring every bidder is offered full transparency into the price they are bidding and the final price they will pay.
More Technology, Increased Liquidity
PWCC is also introducing its Weekly Auction Builder technology, which optimizes each auction to prioritize assets on a first-come, first-served basis. This ensures a uniform number of items are offered in each weekly auction, and duplicate offerings are limited.
In total, these new offerings provide more flexible and immediate opportunities for sellers and buyers to make swift and intelligent changes to their portfolios.
“The new weekly format provides increased flexibility for our Vault Members and dovetails nicely with our menu of Capital offerings,” Craig said. “Auction Cash Advances and Vault Loans can now be provided in a much more dynamic manner, which helps our clients with their immediate needs in today’s market.”
In addition to the technological advancements on the operational side, the PWCC Marketplace Trust Team continues to vet new bidders and monitor bidding activity on the marketplace – resulting in a vast reduction in the rate of unpaid auctions.
“We continue to create new offerings across our entire platform with our in-house team of developers,” Craig said. “We’ve developed new technologies, tools, and approaches to remove bad actors from our auctions. We are aggressively innovating and inventing with the goal of creating new opportunities to make bidding more effective, fun, and efficient, all while ensuring auctions are paid swiftly.”
PWCC’s Premier Auction remains unchanged and will operate as a monthly auction ending on set Saturdays throughout the year.
For more information, visit www.pwccmarketplace.com
Monthly Auctions will become Weekly Auctions starting in January.
- Each auction will start on Thursday night and end 10 days later on a Sunday night with extended bidding starting at 7:00 p.m. PT.
- The extended bidding model will remain the same as the current Monthly Auction, with items ending via a closing window.
- Each closing night will feature all categories, which means you can bid on Ty Cobb the same night as you bid on Charizard.
- We will host 52 Weekly Auctions per year.
- Each Weekly Auction will include a 20% buyer’s premium, consistent with our Premier Auction, with the same transparent UI. The Fixed Price Marketplace will move to a buyer’s premium model as well (all current asking prices include the buyer’s premium automatically).
WHAT THIS MEANS FOR BUYERS
- Weekly Auction will close every Sunday night, and only on Sunday. The Premier Auction will still close once a month, generally on the third Saturday of the month.
- Weekly Auctions will contain new cards and memorabilia every week so there will always be exciting items to bid on at a wide range of price points.
- The same consistent titling and hi-res imagery you’re used to.
- The same ability to send cards directly to your Vault account and pay Oregon’s 0% sales tax rate.
- The most transparent buyer’s premium user interface in the industry.
WHAT THIS MEANS FOR SELLERS
- Industry-leading seller’s commissions. PWCC sellers always net an industry-leading percentage on all assets sold.
- Increased liquidity with faster payouts.
- More opportunities to access auction advances.
- No more submission deadlines. Submit any time and your items will go live within 20 business days.
- Predictable closing nights that don’t vary by sport or category.
- Our Weekly Auction Builder technology curates and optimizes each auction prioritizing assets on a first-come, first-served basis while limiting the number of duplicate items.
- All items will go through your Vault account and will provide an insured value and better auction tracking.
- We are excited to launch the new Weekly Auction next month. Same platform, better experience.
About PWCC Marketplace
PWCC Marketplace provides the trading card investment market with cutting-edge analytic tools, multiple marketplace offerings perfect for every asset class, secure vault storage with asset appraisal and insurance, and a robust menu of capital lending services. PWCC customers benefit from access to the PWCC Vault – a highly secure, bank-style vault located in Oregon, a sales-tax-free state – a unique mailing address for each Vault account, a digital portfolio of their trading card assets, one-click selling across each PWCC Marketplace, and access to capital loans using their trading card collection as collateral.
Founded in 1998, PWCC retains its status as the leading innovator in the auction world by constantly offering new technologies, products, and services that make the hobby better for investors and collectors looking to buy, sell, and securely store assets.