Hello everyone and happy Monday. Last week, we announced the impending release of COMC’s New Vault service for high end cards. Since then, we have received a flood of questions, comments, and suggestions.
Testing…one, two, three….
This Friday, June 14th 2013, we will be releasing an interview with Tim to answer the burning questions that many of you have had about The Vault, how it works, and even what changes we have considered due to your input! This service is something the whole Team at COMC has been excited to get rolling, and this is your chance to see how it came to be.
In light of this, we want to again encourage you to send us your questions about The Vault. This is your chance to pose your thoughts to Tim and the Team at COMC. Tell us what other features we should be considering for the service? What do you think of the service as it has been explained so far? Does something not make sense to you?
Please have all of your questions to us by no later than 3pm PST on Wednesday, June 12th in order to have your thoughts considered for the interview. Then be sure to tune in on Friday when Tim takes a chair and talks to us about The Vault! Don’t forget to follow us on the blog, Facebook, Twitter, and our new Google+ page for further updates.
The main question I haven’t seen addressed yet is: Once you have too many cards to display on location (such as at the National), how will you decide which ones to show? Will you bring ALL Vault cards but only show select ones, so that way people can still use an iPad at your booth to browse all the cards, for example, and still take delivery in person should they see something they like? That’s more than one question 🙂
Do you assume that this will be used to circumvent the 20% cash out fee? As you will now be able to purchase a valuable card with store credit on the site and send it to the vault for a nice 90% cash out. Probably good for both sellers of high end cards on COMC and for buyers of high end cards on the Vault, but is it of any concern to Tim and the team?
Its not a good deal for buyers. If a buyer decides to use store credit and not a credit card you will have to pay a 12-25% fee (COMC has mentioned both. not sure what will be the final fee). This has completely turned me off of buying from the Vault, as I only use store credit, and does not seem fair at all.
I intend to list cards on the vault for significant discounts as I will still get paid out more. I didn’t realize that buyers using store credit pay a premium, but it definitely makes sense as it would remove to much currency from the system otherwise. Before I started selling on COMC I exclusively used a credit card to shop here. So it’s not a big deal to me if we lose the few “buyers” that use COMC like a trading marketplace and are just having fun with their accounts as long as it attracts people with money ready to spend.
Good evening Mr. Mark Miller,y 2 questions as of right now Is/are will the “vault” be climate controlled & also how many ” members ” aka employees have the code to the vault? Not worrying about theft but just wondering due to the high end cards that will be I there! Also is the vault going to be in house and be well secured due to theft reasons because not everyone in this world are honest as you know! Thanks for the update! Sincerely, Mark Christie/member name Mark Daniels thanks for all your help Mr. Mark Miller!
Sent from my iPhone
Alot of Marks
Love the idea.You may have answered some of these questions in the original post ,but I’ll throw them out there.
What will be the qualifications for a card be to be eligible for the vault? $100+?
Will you be able to purchase a card on COMC and submit it to the vault?
What will the % fee be to pay for a vault item with COMC funds?
How will you advertise the vault items? Will you be able to do classified/promotions for vault items?
How automated will the process be? With 5% down? Will it lock the card up until 100% of funds are received? How long does the buyer have until the seller gets to split the deposit and relist his/her card?
Where will you get alerts for offers? Are offers still going to be limited to 50%? Will you have to sign up for the vault or will your current information work when you go to the new .com? Same format?
Interested in hearing about the new Express payments also. Wire transfer? Automated Express check payments?
Thanks -Maximoose