Eloy Jimenez (JIME) $2.00 0.2% Luis Severino (SVOL) $1.00 0.1% Gary Sanchez (GSCZ) $8.00 Jose Altuve (ALTU) $13.00 -0.1% Case Keenum (KEEC) $18.00 0.1% Joe Montana (MNTA) $137.00 -0.2% Greg Maddux (MDDX) $73.00 -0.1% Julio Jones (JULJ) $4.00 -0.1% Ken Griffey Jr. (GRIF) $52.00 -0.1% Kirk Cousins (COUK) $2.00 -0.2% Mike Mussina (MUSS) $4.00 -0.2% Victor Robles (ROBV) $2.00 Sammy Sosa (SOSA) $16.00 0.1% Reggie Miller (REGG) $28.00 -0.1% Rafael Devers (DVRS) $2.00 -0.1% Wade Boggs (BOGS) $107.00 -0.3% Jameis Winston (WJAM) $9.00 -0.3% LeBron James (LBRJ) $900.00 Carlos Beltran (CBEL) $14.00 -0.6% Grant Hill (HILL) $7.00 0.2% Tyrod Taylor (TROD) $15.00 Mark Mcgwire (MACK) $52.00 -0.2% Mike Trout (TRUT) $150.00 -0.1% Matthew Stafford (STAF) $25.00 -0.1% Joey Votto (VOTO) $110.00 0.7%

FEE-FREE TRADING *** 10% CashOut Fees *** Credit Cards & PayPal Accepted *** CLICK FOR DETAILS


7:10am PT Thursday, 3 November 2016

Credit Card transactions now executing.  Please update your credit card information using the "Manage My Profile" tab.

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Friday, 28 October 2016

*** FEE-FREE TRADING Debuts with New Website ***

ThePit’s conversion to a new website design, currently scheduled for Saturday, Oct. 29th, will coincide with the conversion to a new “fee-free” business model that will reward traders who trade within thePit to build their portfolios. In the past, card purchases on thePit have been subject to a fee designed to offset thePit’s credit card expenses. That fee was 2.5% for purchases of $60 or more, and slightly more for smaller purchases. With the new-look Pit, PURCHASE FEES WILL BE ELIMINATED.

On the selling side, Pit fees in the old model ranged on a descending scale from 7% (for transactions in the $13 to $20 range) to 2.5% (for transactions over $1000). Those fees were for cards sold within a user’s Pit account; fees for Sales Not In Account (“SNIA”) were two percentage points higher in each range. With the new-look Pit, FEES FOR IN-ACCOUNT SALES WILL BE ELIMINATED. SNIA sales, in which cards are sold before being delivered to thePit, will be charged a fee of 5% regardless of transaction size.

So users who trade their cards within thePit will not incur any fees, buying or selling! The new model is designed to encourage traders to buy and sell cards aggressively on thePit. Traders who choose instead to “Cash Out” their Pit credits will be charged a fee of 10%; so a trader with a balance of $200 in his Pit account will receive $180 via PayPal or Wells Fargo check if he requests a full payout of his Pit credits. Account holders with cash balances carrying over from the old system will be allowed to withdraw that cash with no fee for a period of one year (until November 1, 2017).

We welcome your comments and questions on the new fee model via email (customer.service@thepit.com), phone (415-307-0453) or Twitter. Continue reading below for an earlier post detailing additional features of the new website.

Trade Sports Stars Like Stocks!

Mark Humphries
General Manager

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** 10/15/2016 **
*** NEW SOFTWARE IMPLEMENTATION SATURDAY 10/29 *** SUSPENSION OF TRADING ***

PIT TRADING WILL BE SUSPENDED ON FRIDAY, OCTOBER 28th AT 9:00PM (Pacific Time) TO PREPARE FOR CONVERSION TO NEW SOFTWARE. DURING THE CONVERSION YOU MAY NOT HAVE ACCESS TO YOUR ACCOUNT AND YOUR HOLDINGS FOR A DAY OR TWO. PLEASE DO NOT PLACE TRADES AFTER 8:00PM PT FRIDAY UNTIL NOTIFIED IN THIS SPACE (OR VIA TWITTER) THAT THE NEW SITE IS READY FOR TRADING. ***

We are now estimating a launch date of Monday, October 31st for the new Pit site. The new Pit will build on the strengths of our existing site while adding new elements that we believe will make trading on thePit easier, more useful and more fun. Most of the new site will look familiar to veteran users; here are some features that will change:

** FEE-FREE TRADING: the new Pit will apply neither Buy nor Sell commissions to trading within the site. A fee of 10% will be applied to CashOut requests, and a fee of 5% is applied to SNIA ("Sale Not In Account") trades in which the item is delivered to thePit *after* sale execution. Customers with cash balances at the time of conversion will be given an option to withdraw that money fee-free.

** SEARCH BY IMAGES: The old Pit offered search results as descriptive lines of text, but the new Pit will provide images so that traders can quickly scan the options.

** MORE FLEXIBLE SEARCH: Using the new "Advanced Search Filters", site users can scan the thousands of items on thePit by setting ranges for year and grade. Searching by team will be enabled in coming months.

** ENTER MULTIPLE TRADES FROM PORTFOLIO SCREEN: ThePit’s “Holdings and Balances” page has always shown users what they own, and what the current Buy/Sell quotes are for those items. With the new site, users will be able to input and view their own Bid and Ask prices directly from this page, making trading faster and easier.

** EMAIL TRADE NOTIFICATIONS: This feature, suspended in recent years by changes in external security systems, will be restored to keep traders more up-to-date with their Pit activity.

** AUTOMATIC CREDIT-CARD FUNDING: Pit traders will once again be able to set single or multiple bids to buy cards backed only by their credit card as opposed to needing funds in their Pit account.

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As with any major software upgrade, there will be issues and “bugs” in the implementation of thePit’s new system. We have worked with our software developer for many months to deliver a quality upgrade to the existing site, and we ask that you help us by reporting any problems to us by email (customer.service@thepit.com) or by calling our main number (805-485-5700). We are also happy to guide you through the new site over the phone, or to answer specific questions by email or Twitter (@thePitCards). Thanks for your patience and understanding as we work through the issues to improve your sports card trading experience on thePit.

Trade Sports Stars Like Stocks!

Mark Humphries
General Manager
ThePit.com
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