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Old 11-09-2018, 11:34 PM   #101
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Originally Posted by Bounty13 View Post
I don't think people understand what's going on. Don't be fooled by their flowery puppy dogs and rainbows announcement. On January 1 they are doing a cash grab on any money you have on their website.

If you have $500 on December 31, you'll only have $475 on January 1. How is this legal? This was not part of the terms of service or fee structure when we signed up.
From my understanding, this would only apply to cash outs. You would still have the same $500 in store credit available for buying cards, processing, etc...your account balance won't change. The 5% conversion fee would only apply if you intend to cash out the $500 at the new 10% rate - in which case you would still be better off (14.5% in fees vs. the previous 20% in fees). You would have to specifically request to convert the Legacy Store credit to the new model Store Credit.
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Old 11-09-2018, 11:38 PM   #102
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Oh, and I'll try to digest all of this stuff and have an update/addendum to my COMC Primer thread. Hopefully by Sunday night.
I'm actually looking forward to it. How many times have people come on here and said "None of my friends use COMC; all the cards are crazy expensive!" The intent is to combat that.
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Old 11-09-2018, 11:50 PM   #103
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Imagine walking into your LCS and talking to the dealer and telling them about COMC. Any they ask how the fees work.... And then you take an hour to explain this.....

Even if it is a good idea, WAY too complicated
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Old 11-10-2018, 12:09 AM   #104
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If you read the comments after the initial post - this gem popped up almost at the bottom from Tim.

"I think you will be really happy with the “new features and services” I alluded to. We are still waiting for BGS to get their processing times more reasonable. In the meantime we are testing out our integration with PSA and expect to launch that in the next few months."
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Old 11-10-2018, 12:14 AM   #105
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My take on the 5% fee is that if your flipping margins are that low, you're probably doing it wrong. There are plenty of cards on the site I find daily that I can quadruple the price and still sell them within a year. So 5% out of a 300% increase on a card is barely noticeable.
And for the ones that don't get picked up to flip, they'll still sell from the original owner, just to a an actual player collector or set collector. Why do you care who bought it? You don't own it anymore.
Glad they took my advice and are reopening access to the bulk pricing tool. I will be drastically dropping all my prices to sell through eBay/Amazon even faster and won't be running daily sales that cost me $100/month + 3%.
I really respect your port and posts but I have to disagree on this one. The 5pct is not trivial, tight margins or not. On any single card it is nominal but if I sell $10k this month then they'd hit me for $500. Ouch. That by the way is $500 less I am ling the pockets of Hawk or Lord or Brett with.

If the only answer then to equalize that fee is to cash out with a lower fee....well now the site is WAY worse off. Cash available diminishes because they are financially encouraging a behavior of cashing out that harms the flow of funds and meanwhile discouraging flipping (which is buying...flipping is buying after all) essentially. It just seems like they are out thinking this.
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Old 11-10-2018, 12:25 AM   #106
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Originally Posted by Dragonman View Post
Just so many fees

- 30 cents to process cards
- 60 cents for questionable condition notes
- penny a month per card for storage
- 5% taken out of every sale
- 10% Cashout Fee
- 3 cents storage over $50

They should have a monthly package
say $1,000 a month we get No 5% fee, No cashout fee, Free processing up to say 1200 cards per month, no storage fee.

Just say the word and I will mail a check for $12,000 for 2019.
This! It doesnt make sense to me to mail cards to COMC as its cost prohibitive. I only used the site to flip and now that's gonna be less profit. COMC ia procing me out with all the fees. They want fees to get your cards, fees to process the cards, fees per month, every transaction fee, fee to cash out.
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Old 11-10-2018, 12:28 AM   #107
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Why are flippers being hurt? If you're only flipping for 5% youre buying cards you shouldn't. I admit, I only flip on their site (no longer submit) and I realize that I am basically using then for free. I dont mind paying 5% for their platform per sale.
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Old 11-10-2018, 12:29 AM   #108
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Originally Posted by Swipe79 View Post
If you read the comments after the initial post - this gem popped up almost at the bottom from Tim.

"I think you will be really happy with the “new features and services” I alluded to. We are still waiting for BGS to get their processing times more reasonable. In the meantime we are testing out our integration with PSA and expect to launch that in the next few months."

LETS GOOOOOOOO
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Old 11-10-2018, 12:29 AM   #109
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Why are flippers being hurt? If you're only flipping for 5% youre buying cards you shouldn't. I admit, I only flip on their site (no longer submit) and I realize that I am basically using then for free. I dont mind paying 5% for their platform per sale.
You sell via COMC on Ebay, so this premise is flawed.
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Old 11-10-2018, 12:41 AM   #110
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There is a significant benefit to be had for existing store credit that will at least help to offset the 5% transaction fee for flippers.

Keep your store credit at the same level for 13 months (till January 2020) and the amount you can cash out improves by $100 for every $1,000 of credit you have right now.

Buy $2,000 worth of cards and flip them in the next 13 months and it costs you an additional $100.
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Old 11-10-2018, 12:42 AM   #111
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Here is a direct copy and paste of a discussion I had with COMC about how I feel this impacts a flipper

This effectively slows my reinvestment by 5% compounding

Used to be $1 to $2 to $4 to $8 to $16 to $32

Now $1 to $1.90 to $3.61 to $6.86 to $13.03 to $24.76

It gets worse and worse as it goes on.

Yes $2.48 is better than $6.40 but $24.76 -$2.48 is $22.28

and $32 - $6.40 is $25.60

When you Superman 3 that math out it becomes a massive fee hike to me
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Old 11-10-2018, 01:00 AM   #112
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Here is a direct copy and paste of a discussion I had with COMC about how I feel this impacts a flipper

This effectively slows my reinvestment by 5% compounding

Used to be $1 to $2 to $4 to $8 to $16 to $32

Now $1 to $1.90 to $3.61 to $6.86 to $13.03 to $24.76

It gets worse and worse as it goes on.

Yes $2.48 is better than $6.40 but $24.76 -$2.48 is $22.28

and $32 - $6.40 is $25.60

When you Superman 3 that math out it becomes a massive fee hike to me
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Old 11-10-2018, 01:41 AM   #113
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I don't raise my prices because of ebay/amazon even though I sell there. I auto-accept 20% offers on site. This may mean that I will no longer accept offers.
Lower your auto accept to 15%, which I think most seller will lower their auto accept 5%.
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Old 11-10-2018, 01:53 AM   #114
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Originally Posted by RandysHobby View Post
Why are flippers being hurt? If you're only flipping for 5% youre buying cards you shouldn't. I admit, I only flip on their site (no longer submit) and I realize that I am basically using then for free. I dont mind paying 5% for their platform per sale.
basically agree with this. I wonder how it affects the e-pack partnership. The users of both may not have agreed to fees when signing up for e-pack... maybe those cards will not face a fee?
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Old 11-10-2018, 01:55 AM   #115
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Originally Posted by Brad View Post
The bigger question... when is the affiliate program starting?
They had an affiliate program once, and it was cancelled without notice.
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Old 11-10-2018, 02:01 AM   #116
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They had an affiliate program once, and it was cancelled without notice.
Most sites have strict rules about advertising your comc/ebay, so I'm not really sure what most of us would gain anyways
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Old 11-10-2018, 02:05 AM   #117
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Originally Posted by mintacular View Post
Imagine walking into your LCS and talking to the dealer and telling them about COMC. Any they ask how the fees work.... And then you take an hour to explain this.....

Even if it is a good idea, WAY too complicated
We have tried to explain to other dealers and we get that head scratching look and refer them to threads here and we have had a lot of smart people go huh?
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Old 11-10-2018, 02:14 AM   #118
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I am going to ask a simple question. With the 5% transaction feel do you guys feel that comc with have more incentive to come up with better features to sell cards?
My gut feeling tells me this might be bad for the short term ,but great for the long term. I plan on investing a lot of resources in the next year to build comc. I feel this the best platform for raw cards and lower end graded cards. I am very excited about the future of comc.
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Old 11-10-2018, 03:10 AM   #119
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Originally Posted by VintageVinny View Post
I really respect your port and posts but I have to disagree on this one. The 5pct is not trivial, tight margins or not. On any single card it is nominal but if I sell $10k this month then they'd hit me for $500. Ouch. That by the way is $500 less I am ling the pockets of Hawk or Lord or Brett with.

If the only answer then to equalize that fee is to cash out with a lower fee....well now the site is WAY worse off. Cash available diminishes because they are financially encouraging a behavior of cashing out that harms the flow of funds and meanwhile discouraging flipping (which is buying...flipping is buying after all) essentially. It just seems like they are out thinking this.
We are not discouraging flipping, and it will remain a key part of the COMC selling experience. That being said, there will be adjustments to flipping strategies that need to be made by sellers, and flippers will need to figure out what works best for them.

Currently, when flipping, and opted-in to cross-listing, your ground floor to break even is to reprice a card under the assumption it will sell via eBay/Amazon. That item that you buy for $10.00 to flip needs to be repriced at least $12.50, otherwise you run the risk of taking a loss. Of course, you can mark it up higher, and run a sale to lower it to $10.50 - $11, etc for COMC buyers. I've never personally tried that strategy, so I will not speak to it.

With the 5% transaction fee across the board regardless where it sells, it technically lowers the ground floor for flipping. Will you want to flip items and be invested in cards with tighter margins? I guess that depends on a number of variables. But under the new model, you can reprice that $10.00 item at $11.50 and regardless where it sells, you'll receive $11.16.
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Old 11-10-2018, 03:17 AM   #120
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I think the huge problem with this is the amount of time it is going to take to re-price things after everybody else re-prices theirs
After reading every single comment, I gotta say this is my favorite one.
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Old 11-10-2018, 03:31 AM   #121
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Sorry for the long post, but I had a lot of scenarios to think through.

If the goal is to have everything on eBay and Amazon, will you be adding another field where we can base our asking price on what we want buyers on eBay and Amazon to see as the overall cost that also includes shipping and handling? If I would like to match an eBay seller offering a card at $99.99 with free shipping, I would just like to enter 99.99 in that new field knowing that is what the buyer on those two sites will see. Right now, given the current set up, it will a bit of trial and error to get the right price to show up. Also, you could enable that field and send us alerts to let us know that we have new cards on those sites. Right now, I have a saved eBay search letting me know which of my cards have been added to eBay.

Can you also give an example of what you have to charge to cash out $50? Most of my eBay and Amazon sales are cards under that amount.

If an eBay buyer buys a low-end card, they are charged $3.99 shipping. With the change, the buyer pays the Traditional Order Premium Price + $3.99 shipping?

Based on my understanding of the new structure, I would have to set my price for one card at $58.48 to cash out $50 ($2.92 transaction fee + $5.56 cash out fee). The buyer would see the price at $67.50 + $3.99 shipping on eBay or $71.49 with free shipping?

58.48*1.15 + 0.25 + 3.99

I currently have a card on COMC for $49.75. The non-logged in price is $50 and the eBay price is $53.99 with free shipping. Under the current system, if I sold this card, I would cash out $31.84.

Does the premium apply to the $0.25 handling fee as well? I'm assuming that it does not.

The eBay price would go up from $53.99 to $61.45 if I didn't change anything? It will stay at $53.99 until you convert it to the new system, correct?

To maintain the $53.99 eBay price, I would have to lower my COMC price from $49.75 to $43.26, or slightly over 13%. If the card sells, I get around $41.10 in store credit? And, if I cash out, I get around $36.99? This is assuming no changes in the S&H costs for a card at this price.

This is better is you plan to cash out regularly, but I use my store credit to process more cards. Instead of having $49.75 of store credit potentially if someone internally bought the card at my asking price, I would now have $41.10 instead no matter who bought it. This looks like a 17% loss to maintain the same eBay price.

I may be mistaken, but there is a flaw in one of your "COMC on eBay After Changes" example. In the worst case scenario, you would potentially lose out on $140.69 on your $1,000 item. It only looks better if you plan to cash out. First, you would have to lower your asking price to $904.54 to keep the eBay price the same. Suppose someone buys your card at list price from COMC. Under the old system, you get $1,000. Under the new system you only get $859.31. Is there data that shows that people are more likely to buy from eBay and Amazon than from the COMC itself. I haven't done the analysis, but for my situation, the majority of my sales appear to be internal. It would be nice to have that sales breakdown without us having to calculate it ourselves. Not only for ourselves individually, but for the site itself.

The examples you provided are geared toward people who want to cash out credit accumulated through eBay and Amazon sales. Can you give examples of what we need to do to maintain the same store credit for an internal sale? Right now, if I list a card at $49.99, I can expect a maximum of $49.99 store credit. What is the asking price to net $49.99 under the new system? Given the 5% transaction fee, I would have also have to incur an upgrade fee for listing over $50.

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I think the $1K example they use that you are basing this off of is if the item costs $1,000 to an eBay buyer - which means you would have had that card listed at $904.54 and not $1,000.

On a $1,000 item (would sell for more than that on eBay with the buyer premium) you would net out $855 if I'm doing my math right.
I believe the $859.31 net is correct. That example shows you need to list internally at $904.54.

However, I think it's $1K + $30.99 shipping and handling to the eBay buyer. I have a BGS card internally at $949.00. It shows on eBay at $979.99 with free shipping. So, under the new system, if I list my card at $904.54, the buyer sees $1,030.99 as the total cost. My math may be totally off, but if I wanted the buyer to see an even $1,000 on eBay, I would have to list at around $880.92. Add the 10% fee and that gets me to $969.01. Add the $30.99 S&H and it's $1,000.

Deduct the 5% transaction fee from $880.92 and I'm now down to $836.87 So instead of asking $969.01 internally, I'm now discounting 9% just to keep my eBay listing price the same. With the transaction fee, I'm now getting 13.6% less no matter who buys it. This is nice if most of your sales are from eBay and Amazon instead of internally.

For the $1,562.50 vs. $1,291.56 example, if I want to wind up with $1,250 store credit, I would list at $1,562.50 with the current system. To the eBay buyer, it would be even more than that amount if S&H is added.

To net $1,250 store credit with the new system, I would list at $1,315.79 or discount my original price by 16%. The eBay price would work out to be $1,452.37 + whatever the S&H is. It's 17% lower if you want to cash out the same amount, but only 7% lower if you want to net the same amount of store credit. It goes down to 5% if the $1,562.50 is factoring in the S&H.

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Originally Posted by COMC James View Post
This math is a little bit off. If you priced an item for sale for $904.54, it would appear on eBay at $1000.00 (after factoring in the traditional order premium), and you would end up netting $773.37 cash in your pocket.

If you priced an item for sale at $1000.00, it would appear on eBay for sale at $1,105. When it sold, you would be charged a 5% transaction fee, and you would receive $950.00 COMC Store Credit. If you cashed that store credit out, you would end up netting $855.00.
Isn't this a slight oversimplification given my scenario above? How does the additional shipping and handing factor in? Wouldn't my BGS card list on eBay at $1,135.99 instead of $1,105 if I priced it up to 1,000? If I raised my price to $1,000 today, the eBay price would be around $1,030.99 correct? If it sells on eBay today, I get $800 store credit, but if a guest buys directly from COMC, I get $1,000 store credit.

If I leave that price the same when the changes take effect, the eBay price would jump up to $1,135.99. If it sells there or on COMC at full price, I get $950 in store credit. To keep the eBay price the same, I would have to lower my asking price to $904.54. I'm basically betting $140.69 store credit on the hope of getting $59.31 more than I used to from an eBay or Amazon sale.

Since I price my cards mostly for internal customers, I don't think the transaction fee will affect me too much. I auto accept at 90% so I'll probably raise that to 95% to factor in the transaction fee. My sales are a roughly even mix of auto accepts, full price, and eBay/Amazon. So, if I sold a $0.75 card through each method, I now get $0.68 + $0.75 + $0.60 = $2.03. With the new system, I would get $0.68 + $0.71 + $.71 = $2.10 assuming I keep the price at $0.75, and factoring in the %5 fee and a 95% auto accept.

However, if I want to make these cards appear on eBay for $1, would I have to price them at $0.65? Otherwise, they'll show up at $1.11 + $3.99 shipping for one card?

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Old 11-10-2018, 03:43 AM   #122
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I feel like COMC is trying to get to much money to quick. If a hot card gets sold 10x's, COMC gets 5% of each sale. Seems like it should be capped at once per card. Something. The amount of fees and cost it takes to turn 1 card into Cash on COMC is crazy. Very few people understand all the fees anyway and trying to bring in new people to the site is impossible. I feel like the flippers are the #1 buyers on the site and with thr new fees I feel like that will slow down. I know my buying is going way down. A week ago I had around $25,000 on the site in cards. I'm already down to about $2000 and I plan to clear it all out. I dont believe COMC tries to advertise to bring in new buyers, cost and fees seemed to have gone up routinely since ive joined the site, and the shipping/receiving dept seems to damage as many cards as they touch. I just dont trust them anymore.
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Old 11-10-2018, 05:32 AM   #123
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I think comc should have made the BUYER pay the 5% transaction fee. This would have encouraged more middle value and high value flipping. It would have also satisfied the seller since they would get the total money that they are asking for on a card. An example would be such as a seller pricing the card at $10.00 and the buyer sees the price at $10.50. It would remove the mathematical equations on the flippers part when trying to figure out what a card should be priced at to make a profit.
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Old 11-10-2018, 05:39 AM   #124
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We are not discouraging flipping, and it will remain a key part of the COMC selling experience. That being said, there will be adjustments to flipping strategies that need to be made by sellers, and flippers will need to figure out what works best for them.

Currently, when flipping, and opted-in to cross-listing, your ground floor to break even is to reprice a card under the assumption it will sell via eBay/Amazon. That item that you buy for $10.00 to flip needs to be repriced at least $12.50, otherwise you run the risk of taking a loss. Of course, you can mark it up higher, and run a sale to lower it to $10.50 - $11, etc for COMC buyers. I've never personally tried that strategy, so I will not speak to it.

With the 5% transaction fee across the board regardless where it sells, it technically lowers the ground floor for flipping. Will you want to flip items and be invested in cards with tighter margins? I guess that depends on a number of variables. But under the new model, you can reprice that $10.00 item at $11.50 and regardless where it sells, you'll receive $11.16.
James....with all respect, if some of your biggest customers/consignors/flippers are saying COMC is discouraging flipping.....COMC is discouraging flipping.
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Old 11-10-2018, 07:51 AM   #125
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Why are flippers being hurt? If you're only flipping for 5% youre buying cards you shouldn't. I admit, I only flip on their site (no longer submit) and I realize that I am basically using then for free. I dont mind paying 5% for their platform per sale.
This is the point.
You cannot expect COMC to continue to allow people to build their wealth (inventory) with no transaction fee on that.

Flip Scenario (and yes, it's exaggerated) 1.00 2.00 3.00 5.00 7.00 8.00 10.00
That's 9.00 in profits for the "customers" and 0.00 in profit for the business.
Now it's 1.80 in profit for the business (36.00 in sales). And small, incremental losses to the customers. There will be a multiplier effect on the losses.
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