<b>Trading Has Begun on the IPO's!</b>
FREE SIGNED BRANDON WOOD BASEBALL! With the launch of the first 10 IPO's, we will give one Signed Brandon Wood Baseball TODAY ONLY to each of the following;
User with the most purchases (buying from an Ask/Sell Listing) on the 10 IPO's.
The user that has the most bids/buy offers executed on the 10 IPO's.
The user that sells the most IPO's ($$ dollars).
At 1pm PST Today Thursday Jan. 26, Live Trading will begin on the 10 New IPO's (Initial Player Offerings). You can wait until the Live Trading begins or you can post your bids/buy offers before that time.
In fact some very strong bids have already been placed well in advance of today's offering.
'03 Bowman Chrome Autograh Brandon Wood (High Bid $65)
'93 SP Johnny Damon ($6.50)
'05-'06 Chris Paul Bowman Chrome ($6.75)
'00 Fleer Tradition Update Johan Santana ($5)
'01 Bowman Chrome Hank Blalock ($30)
'93 SP Jerome Bettis ($8.50)
'02 Jeff Francoeur Bowman Chrome ($36)
'04 Zach Duke Bowman's Best Autograph ($42)
'95 Topps Traded Carlos Beltran ($7.25)
'04 Howie Kendrick Topps Chrome Traded ($11).
With NAXCOM's acquisition of ThePit.com from the Topps Company, NAXCOM will be adding over 300 players and 500 cards. This is the very first 10 of many more to come. 10 New IPO's will be announced on Tuesday's, with Trading to begin on Thursday's. In addition to the new offerings, other new features and upgrades are being added to ThePit.com for the first time. Many of the upgrades should be added to the site by the week of Feb. 3rd. These new features and upgrades include;
Ability to pay with PayPal and to Cash Out via PayPal
Currently you can only see the Highest Bid and Lowest Ask Price of each item. This will change as the new feature will allow you to see all of the Bids and Asks of an item
Currently, to post a buy offer/bid you need to have the funds in your account to cover the transaction. This will change so that you can Post Bids/Buy Offers and have your credit card charged so that you don't have to previously fund your account.
Currently, ThePit.com Market Makers can only post one bid and one ask on each item. When a buyer or seller comes in and executes one of the bids and asks there typically isn't another order behind it, unless it is a customers. This will change so that a Market Maker can post multiple bids and asks behind each order. This will mean that when the high bid or low ask is executed there will always be a bid or ask behind it.
Currently, the Daily Change of an item is based on the midpoint of the bid and ask. This will be changed to reflect an items last transaction price from the previous day, making it much easier to follow an items movement.
In mid to late February, the Shopping Cart feature should be completed. This will be a very exciting addition as it will allow users to put all of the items they want into one shopping cart and then check out rather than having to pay for each item one at a time.
And finally, an announcement on the changing of fees with lower buying and deposit fees and higher selling fees to offset the lower fees, should be made by mid February as well.
All of these upgrades and changes along with some new Advertising and Marketing campaigns are going to make ThePit.com Grand Reopening Weekend on March 17-19 a very exciting event! That weekend all of the changes from PayPal to the new "better" fees will be in place, plus an additional 80 players/cards will have already been added to the site. Then on that special weekend 100 New IPO's will be added over those three days along with contests and prizes including a Grand Prize Giveaway of an '86 Fleer Michael Jordan PSA 9 Rookie Card (value $1000) will be given out.
Check back often to see all of these new additions and upgrades, plus more that will be added to ThePit.com! If you have any comments or suggestions, please use the General Forums to post a message to us or use the New Live Help chat feature that allows you to instantaneously chat to a Live Customer Care Rep. (M-F 9am - 6pm PST).