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How to Buy/Sell


How to Buy and Sell
Important Terms
Types of Orders
Order Status Descriptions
How to Cancel an Order
Trade Settlements

How to Buy and Sell

In order to Buy/Sell or Place a Listing, you must Open an account and add a Credit Card on file. *Please Note: You can make a purchase without placing a credit card on file, however, the Shopping Cart Check Out must be used. The Shopping Cart can be found by clicking on View All Listings on an items page.

How To Buy/Sell and Post a Buy or Sell Listing:

  1. Look up the card that you want to buy or sell.

    • Enter the name of the player only (do not enter brand, year, etc) that you are looking for in the "Player Search" shown at the top of each page; or

    • To search by year, brand, etc., click on Advance Search found to the right of the Player Search.

  2. A list of items will appear that match your search. Click on the item you are interested in.

  3. The next page will display the items Highest Bid/Buy Offer & the Lowest Ask/Sell Listing.

    • To buy it at the price shown, click on the Green "Buy It Now" Price. To sell it, click on the Red "Sell It Now" Price. To see all the listings and/or use the Shopping Cart click the "View All Listings" link just below the prices.

    • Enter the quantity of cards that you want to purchase or sell. ThePit gives you the option to select a Minimum Quantity. (See additional information on Minimum Quantity)

    • Enter the price that you wish to purchase or sell the cards. If you are buying or selling the item at the current listing price your order is Marketable and will be executed immediately. If you want to post a listing at the price you want, simply change the price. (Once your listing is posted you can track it in your Order Status Page, where you can edit and/or cancel a listing at any time).

    • Enter the Expiration date of the order & select Preview Order.

  4. If the information is correct, Click the Confirm Button to execute the transaction.

    • Please note: Before your buy or sell order is submitted, you will have the ability to confirm your order.

  5. If your order is Marketable, it should be executed immediately. Once your order is executed:

    • Buyers: The card(s) you purchased will be reflected in your Holdings and Balances, where you can choose to request delivery or leave them in your account.


    • Sellers: If you sold items from your account on ThePit, the funds will be reflected in your Holdings and Balances immediately, where you can request a check or PayPal Deposit at any time. If you sold cards which were not in your account, you are requested to ship them out within 2-3 business days to ThePit.com. Click here to learn more about selling cards which are not in your account.


Important Terms

Minimum Order Quantity

thePit.com gives our account holders the option to choose the Minimum order quantity when they place orders to buy or sell multiple cards.

For example, if you place a listing to buy 10 cards at $20ea. and you leave the Minimum order quantity at 1, your listing maybe executed anywhere from one to ten cards. If you choose 10 as the Minimum order quantity, your Bid/Buy Offer Listing can only be executed for all 10 cards.

Marketable Orders

A marketable order is one that can be immediately executed. Your order is considered marketable if it meets the price and quantity of an existing listing:

Order Status Descriptions

There are five possibilities when looking at the status column on your Order Status Monitoring screen:

  • Open orders This is an order that is still open but has not been executed.  All open orders remain available until they expire, they are cancelled, or they are executed.
     
  • Executed orders This is a trade that has been executed.  See Trade Settlements for more information.
     
  • Canceled orders These are orders which have been canceled.
     
  • Executed Partial orders This is similar to an executed order, except that only a portion of the entire order quantity has been executed.  The balance is considered an open order until it is executed or cancelled.
     
  • Cancel Partial orders This is the balance of a partially executed order that was later canceled.
     

How to Cancel an Order


Buy/Sell Settlements

Purchase Trades:  Upon purchasing an item, ThePit will first remove funds directly from a users account. If there are not enough funds in the account, the system will then require a Credit Card or PayPal. If posting a Bid/Buy Offer and funds are not available in the account, the users Credit Card on file will be executed. Only after a confirmation of payment is received will the transaction go through.

Sale Trades:  There are two types of Sale Trades with thePit.com.

  1. Sell From Account - Sales of cards that are in thePit.com account at the time of the trade will settle immediately.  Therefore, the card(s) will be removed from the account, and the funds immediately credited.
     
  2. SNIA (Sell Not In Account) - Users can sell their own cards that they are in possession of. Once you sell your item follow the sale confirmation instructions and ship your items to ThePit. Once ThePit receives your items, the funds will be posted to your account for you to cash out or use to make purchases on the site. Always remember to complete and enclose the Shipping Cards Form when sending cards to thePit.com.
     

If you are sending cards that you have sold to thePit.com, the card(s) sold should be shipped out 2-3 business days after your Sale to avoid a penalty.  Additionally, thePit.com reserves the right to freeze any account from further trading.

Remember, in order to sell a card on thePit.com, you must own that card at the time of the order.  No short selling is allowed.

If You Sold Cards that are NOT held in your Account, please follow these steps!

  1. Complete the Shipping Cards Form and type or write in exactly what cards you are sending in.  Customers are encouraged to complete the form online then print it out and enclose it with the cards.
    1. Ship Your Cards To:

      thePit.com
      PO Box 2120
      Oxnard, CA 93034
      Attn: Processing Dept.

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