My moderns submission from 6/27 has been sitting at scheduled for grading for over two weeks now.
Now, here's a point I haven't heard brought up in the discussion yet. Is it possible CGC is simply trying to profit from the glutton of books being submitted in the short term because they foresee the approaching collapse of the market?
Pure speculation on my part, but take a look at feebay. Five years ago you would have seen maybe 20 pages of slabbed books, now what is it? I'm not going to even guess but it is well over 100 I know. Key books will seemingly have a demand if you have one, but all those other books that are being slabbed for who knows what reason, after a while that's a lot of money built up into a bunch of books that are not making much of a profit sitting on an auction site. If any profit is made after secondary sites and payment acceptors take their cut. How long before some of the dealers just simply have to take a loss on a flood of books and values drop simply because they need money in an economy that has been in the worst recession on record, boardering on the next great depression?
I realize submissions are at an all time high but at some point, just in any other market, there will be a lull. Not necessarily because of competition either. When it comes to the economy it may be because of the need for other things such as food and shelter and if you think getting credit is hard now, wait until next year. New banking regulations are putting a strangle hold on what the banks are willing to lend and to whom.
I'm just a collector myself and I look at the amount of money I have spent on my books and I know the profit margin I have made on the ones I have sold and the average is well below what I would think would be a healthy business average. It seems to be almost seasonal, probably following the convention scene. No way would I be in this as a business right now.