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.
We at COMC are proud to announce the launch of a new service designed to handle your high end items: the Vault. You will access this new service through a new subdomain: http://vault.comc.com. As a separate site from COMC.com, it will have a few key distinguishing features to optimize the sale and purchase of collectibles of the highest value. Whereas COMC has historically found a sweet spot with items in the $1-$100 range, the Vault will really make it worth sending us $100+ items.
Why You Want To Use The Vault
Only 10% commission on all items sold
High quality 36x zoom scans of front and back of each item
Items may be showcased at some of the most prestigious shows in the country
Additional payment options (e.g. wire transfer)
It is the safe and easy way to buy and sell high end collectibles
What Sellers Need to Know:
When an item sells through the Vault, the seller may opt to receive 100% of the sale as COMC Store Credit or we can immediately cash it out for 90%! All items marked as Vault Eligible will receive 36x zoom scans of the front and back, making it even easier for buyers to know exactly what they are purchasing. The official launch of the service will be on July 31st, 2013 at the 2013 National Sports Collectors Convention. The exact date this subdomain will become active will be announced closer to launch.
To make your items Vault Eligible, simply use any of the following services
Items that used any of the above services after January 1st 2013 are already Vault Eligible.
You may list any Vault Eligible item on COMC, the Vault, or on both. Pricing on each site is independent of one another. In the near future, you will be able to see which items are Vault Eligible from your Inventory Manager.
A fee of $0.01/day will be charged for items with an asking price of up to $1,000. For more expensive items, it will be $0.01 per additional $1,000 per day. This fee is in place to help offset the cost of insurance. Storage fees for the Vault will be charged daily similar to the way COMC storage fees are charged monthly.
What Buyers Need To Know:
There are 3 ways buyers may purchase items in the Vault:
Instant Purchase: Pay in full via Credit Card, PayPal, or Amazon Payment
Down Payment: 5% COMC Store Credit down payment + remainder via check, money order, etc.
Make Offer: Unlike COMC which requires 100% of the offer amount to be funded before making an offer, the Vault will only require an offer reserve of 5% of the original asking price in COMC Store Credit. It will be refunded if the offer is countered or rejected, just like COMC offers.
If a buyer does not pay for an item on which they have placed a down payment, half of the down payment will be passed along to the seller in COMC Store Credit as a restocking fee. For instance, if an item sells for $1000, the down payment would be $50. If the buyer doesn’t pay for the item, $25 would go to the seller and $25 goes to COMC as a restocking fee.
On COMC’s end, we will continue to provide the same excellent customer service. In the event that a buyer receives a Vault item and it is deemed unacceptable, the buyer will have 7 days to return the item. After the 7 day waiting period has expired, the funds will be available for the seller.
Exposure at Shows and Conventions
There is one more benefit to having items in the Vault for both buyers and sellers. Items in the Vault may be eligible to travel with COMC and be sold at some of the most prestigious card shows in the nation! For example, later this summer COMC will have a 100 sqft corporate booth at the National Sports Collectors Convention in Chicago where we will feature showcases of items from the Vault. Even as your physical items are being viewed by some of the most discerning buyers, they will still be on the site and available for sale. In this way, your items will receive the most exposure and acclaim.
Now this is worthy of celebration!
We hope you are as excited as we are to finally see this new feature rolling out. We encourage you to begin sending Vault Eligible items in to us as soon as possible. All Vault Eligible items received by July 15th will be taken with us to the National Sports Collectors Convention at no additional cost to you! Be one of the first to have your best in show at the best of shows.
Stay tuned for a video interview with our CEO Tim Getsch about the Vault. Submit your questions in the comments below and they may be featured in the interview. As always, we want to know what you think and now is the time to tell us before the service goes live.