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Why are we charged % FMV?

Started by mikeyboy9000,

87 posts in this topic

RedFury

RedFury

Posted
Posted
It costs you more to get an expensive comic book graded by CGC because that is what CGC charges to grade your expensive comic book.

 

Exactly.

 

You conceivably stand to profit from submitting a high end book, and that profit is directly as a result of the certification process, so there's no reason why CGC shouldn't get their piece.

 

And therefor CGC benefits from the books grades

 

Yeah, so?

 

That's the definition of conflict of interest.

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Ares

Ares

Posted
Posted
It costs you more to get an expensive comic book graded by CGC because that is what CGC charges to grade your expensive comic book.

 

Exactly.

 

You conceivably stand to profit from submitting a high end book, and that profit is directly as a result of the certification process, so there's no reason why CGC shouldn't get their piece.

 

And therefor CGC benefits from the books grades

 

Yeah, so?

 

That's the definition of conflict of interest.

^^

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VintageComics

VintageComics

Posted
Posted

I wonder how many of the people that try to rip CGC a new hole

 

1) buy CGC Comics

2) submit books to CGC

3) have tried running their own business.

 

hm

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RedFury

RedFury

Posted
Posted
I wonder how many of the people that try to rip CGC a new hole

 

1) buy CGC Comics

2) submit books to CGC

3) have tried running their own business.

 

hm

 

You misunderstand. I'm pointing this out because I really like CGC. Look at my avatar. I've been here since 2002. I may not post often, but I'm always here. Look at my registry set. I'm in the top 100. I buy CGC books, I submit books to CGC, I sell CGC books.

 

Why do we all prefer CGC to PGX? The answer is simple: trust. CGC's business model is built around trust. It's their differentiator. Lose the trust, and it's over.

 

So if your business is built on trust, why do anything that puts that trust at risk? Why allow the appearance of impropriety to continue?

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Flaming_Telepath

Flaming_Telepath

Posted
Posted
I wonder how many of the people that try to rip CGC a new hole

 

1) buy CGC Comics

2) submit books to CGC

3) have tried running their own business.

 

hm

 

:hi:

 

I've been ripping them new arseholes for years now and am fully entitled to do so. (thumbs u

 

Oh, and the old 'if you haven't done it/don't use it/haven't been there' argument is nonsense. I've never been to Zimbabwe, but I'm entitled to an opinion. I've never worked on Wall Street, but I'm entitled to an opinion there, too.

 

Still, on this point, I'm failing miserably to see the problem. A company requires a certain amount of income to cover all expenses and, hopefully, turn a profit. They structure their fees to achieve this. If CGC withdrew the % of FMV as a charge, they'd simply have to bump up standard submissions to...oh, I don't know, $45 for a Modern...to generate the income they require.

 

Which of course would be hitting the folk who don't benefit from the insurance in place for those high ticket items and would cause all manner of outcry. doh!

 

Hey, if you don't like it, nobody's forcing you to send your books to Sarasota? (shrug)

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DrWatson

DrWatson

Posted
Posted

I, for one, am glad that you have an opinion on all manner of things, Mr Beckett.

 

No one ever said we had to agree. At least you play fair and are often entertaining in the process.

 

I have actually changed a few of my thought processes thanks to your input.

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Flaming_Telepath

Flaming_Telepath

Posted
Posted
I, for one, am glad that you have an opinion on all manner of things, Mr Beckett.

 

No one ever said we had to agree. At least you play fair and are often entertaining in the process.

 

I have actually changed a few of my thought processes thanks to your input.

 

:hi:

 

I'm still trying to work out whether any of this is complimentary... hm

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DrWatson

DrWatson

Posted
Posted
I, for one, am glad that you have an opinion on all manner of things, Mr Beckett.

 

No one ever said we had to agree. At least you play fair and are often entertaining in the process.

 

I have actually changed a few of my thought processes thanks to your input.

 

:hi:

 

I'm still trying to work out whether any of this is complimentary... hm

It's as close as you're going to get from me. :baiting:

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VintageComics

VintageComics

Posted
Posted
I wonder how many of the people that try to rip CGC a new hole

 

1) buy CGC Comics

2) submit books to CGC

3) have tried running their own business.

 

hm

 

:hi:

 

I've been ripping them new arseholes for years now and am fully entitled to do so. (thumbs u

 

Oh, and the old 'if you haven't done it/don't use it/haven't been there' argument is nonsense. I've never been to Zimbabwe, but I'm entitled to an opinion. I've never worked on Wall Street, but I'm entitled to an opinion there, too.

 

Still, on this point, I'm failing miserably to see the problem. A company requires a certain amount of income to cover all expenses and, hopefully, turn a profit. They structure their fees to achieve this. If CGC withdrew the % of FMV as a charge, they'd simply have to bump up standard submissions to...oh, I don't know, $45 for a Modern...to generate the income they require.

 

Which of course would be hitting the folk who don't benefit from the insurance in place for those high ticket items and would cause all manner of outcry. doh!

 

Hey, if you don't like it, nobody's forcing you to send your books to Sarasota? (shrug)

 

Nick, it takes a Brit to eloquently state what a neanderthal like me has been trying to get across all day.

 

...they still won't get it though.

 

lol

 

My point was not raised because people can't have opinions...my point was that I was trying to show intent.

 

Why do people constantly pick apart CGC but have no viable solutions?

 

SCS? Build them a better slab and they'll pay you for it.

FMV grading fees? Show me a better way to do it...I think they've done a great job splitting the grading fees.

Too expensive? What do you want them to charge you when they make your $1 purchase a $20,000 book (see TMNT #1 CGC 9.8 in another thread)?

 

Personally I'm thankful I don't have to go head to head with FT.

 

The guy just makes too much sense.

 

 

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seanfingh

seanfingh

Posted
Posted
I wonder how many of the people that try to rip CGC a new hole

 

1) buy CGC Comics

2) submit books to CGC

3) have tried running their own business.

 

hm

 

You misunderstand. I'm pointing this out because I really like CGC. Look at my avatar. I've been here since 2002. I may not post often, but I'm always here. Look at my registry set. I'm in the top 100. I buy CGC books, I submit books to CGC, I sell CGC books.

 

Why do we all prefer CGC to PGX? The answer is simple: trust. CGC's business model is built around trust. It's their differentiator. Lose the trust, and it's over.

 

So if your business is built on trust, why do anything that puts that trust at risk? Why allow the appearance of impropriety to continue?

 

I don't understand what the appearance of impropriety is. I am operating on several assumptions: (1) the cost of handling, insuring, storing etc a high dollar book is more than a low dollar book; (2) part of CGC's business model is to pass on that additional cost in direct proportion to the book submitted (i.e. as opposed to doing a dollar cost average and charging all slabs the same amount); (3) CGC discloses this in its fee schedule as part and parcel of the submission process. Assuming all of these are true, what is the appearance of impropriety? If anyone believe any of these are false, then, how so?

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NewWorldOrder

NewWorldOrder

Posted
Posted

My best guess would be that CGC has a SPECIALITY SURPLUS LINES Insurance Policy specially tailored for their constant fluctuating of inventory/value.

 

They also may have to do monthly or weekly reports to their insurance company on reporting values of their entire inventory to see if they go over/under their maximum Business Personal Property Coverage.

 

That means they might have to pay an extra premium if they go over and get a rebate if they are under, but w/o me knowing exactly who their Insurance carrier is or what type of policy they have it’s tuff to say.

 

The 2.5% FMV of the comic is also a way for CGC to make a couple extra bucks off those big books, don’t kid yourself. :shy:

 

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Jeffro.

Jeffro.

Posted
Posted
I wonder how many of the people that try to rip CGC a new hole

 

1) buy CGC Comics

2) submit books to CGC

3) have tried running their own business.

 

hm

 

Right.

Everyone just STFU and be spoonfed without ever questioning anything.

 

I have nothing against CGC

I have had books slabbed and will continue to do so.

I have bought slabbed books and will continue to do so.

I have no problem with a company making money.

 

However, given all that, I see nothing wrong with questionin practices. I can't speak for everyone but i don't do it because I want to 'rip' them. I am merely looking for answers.

There's nothing wrong with questioning.

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G.A.tor

G.A.tor

Posted
Posted
My best guess would be that CGC has a SPECIALITY SURPLUS LINES Insurance Policy specially tailored for their constant fluctuating of inventory/value.

 

BINGO! (thumbs u

I implied that ealier lol
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thehumantorch

thehumantorch

Posted
Posted
The FMV always confused me as well.

Shouldn't the cost of slabbing the book be trhe same no matter what age or value of the book?

 

Isnt this their attempt to profit from the value of your book?

 

 

I couldn't have put it better myself.

 

Absolutely, low value books they charge a small amount as these books would not get slabbed otherwise. High value books they charge more because they can.

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seanfingh

seanfingh

Posted
Posted
My best guess would be that CGC has a SPECIALITY SURPLUS LINES Insurance Policy specially tailored for their constant fluctuating of inventory/value.

 

BINGO! (thumbs u

 

:acclaim:

 

The ArchDuke of blind squirrels finds himself a nut. (worship)

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