Port Sales Transform into Silent Auctions

In recent weeks, many COMC users have utilized our ‘port sale’ feature. While that has been successful, we’ve decided to enhance this concept with a different approach.

For the first time in the company’s history, we will embark on the silent auction frontier. Basically, the way it will work is that a seller will contact us about his or her desire to sell their entire portfolio.

Then we’ll take all of their cards out of their inventory, and put them into a separate viewable portion on the site. There, potential buyers will be able to view the cards and make an offer.

Over the course of one week, the highest bidder will be the winner. Bidders will be allowed to bid as much as they like. Funds will not be locked at the time of the bid. The highest bidder will be given 2 days to add any additional funds to their account if necessary. If the highest bidder is not able to pay, we will give the second highest bidder an opportunity to purchase the lot. 5% of the final price will be collected for the silent auction service. The remaining 95% store credit will be added to the seller’s account.

Sellers will be allowed to submit a silent bid. This is effectively like setting a reserve price. If the seller has the highest bid, they will be simply charged the 5% fee and the cards will be returned to their account.

Upon completion of the auction, we will announce who the winning bidder was, but we will not announce what the final price was.

Let us know your thoughts about this major announcement, and your interest level in perhaps partaking of this option in the near future.

SteelCitySportsCards1 nears top seller list

Just four months in, father-and-son duo Tom and Tristan Petraglia have taken COMC by storm. Since having their first batch of cards appear on the site Feb. 3, SteelCitySportsCards1 has risen up the top-seller list in virtually no time.

This week, they eclipsed the $100,000 mark in terms of listed book value. It is the fastest any seller has joined this exclusive club. This is also the first account to eclipse $100,000 book value without making it to the top 10 list. I am sure they will be joining the top 10 very soon.

This success rate, however, should come as no surprise since the Pittsburgh-based Petraglia’s have thrived in the online sports cards business the past four years. “There’s two things we would look for: local inventory, like Penguins, Steelers or Pirates stuff, and then cards that dealers were just sitting on and they wanted to get out from under — so they priced them low,” said Tristan, who decided in the mid-1980’s to start working on a 1979 Topps baseball set with his father since that is his birth year.

Even though Tristan first learned about COMC at the 2007 National Sports Collectors Convention in Cleveland, it wasn’t until a conversation last summer with COMC seller ohiomike that Tristan decided to try it.  “You guys have created a special, special thing, and I’m just excited to be a part of it from the ground up,” he said.

By the end of February, approximately 4,000 cards were up for sale, and almost 7,000 were in the account by May. That’s the month when the Petraglia’s submitted another 4,000 or so.

But it’s the approximate 1,000 this week that put them over the edge. With several more approaching due dates, SteelCitySportsCards1 is projected to have approximately 17,000 cards by the end of the month.

“This is hands down the best site that we could have possibly chosen,” said Tristan, who has been freed up to help a friend run a cell phone accessory stand while the latter is tending to personal matters. “Getting away from the headaches and confusion with customer feedback and everything else is just invaluable.”

Are you Baltimore-bound?

With the 2010 National Sports Collectors Convention now less than two months away, we here at COMC are interested to hear if you’re going.

The 31st annual event runs August 4-8 and will be held at the Baltimore Convention Center. More details are available at http://www.nsccshow.com. Since this is right around the corner, we’re asking that you drop us an email at thenational@checkoutmycards.com if you plan on attending.

Thanks in advance for your replies, and we look forward to seeing you all there!

1.5 Million + 10 > $100K

Big milestones today… I just noticed that we surpassed 1.5 million cards actively for sale on the site, and all ten of our top sellers have more than $100K BV worth of cards for sale.

10 sellers over $100K

Two years ago it only took $20K BV to reach the top 10.

Note: We also made some updates to our sellers page. It should be a lot faster to load, and you can now easily find any seller by username.