<b>Largest Single Day of Trading!</b>
On Thursday, with the help of the 10 New IPO's, ThePit not only had its largest day of transactions since NAXCOM's acquisition from the Topps Co., but it also had one of its largest days in the past year.
With the addition of over 300 new players & 500 new cards, along with all of the new features being added over the next few months, ThePit's future has never been brighter. Next week, users will see 10 more IPO's announced on Tuesday at 1pm. 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).