The New Owners of CGC 8 8

[N e r V]

2 hours ago, GreatCaesarsGhost said:

I can’t disagree.

but knowing what we now know, I wonder if the relaxed grading on the Promise Collection, which helped create a $22 million auction, was part of a mating ritual between suitor and bride

Just wait till they open their new CGC offices in Los Angeles with a whole new group of relaxed graders…

[GreatCaesarsGhost]

10 minutes ago, N e r V said:

Just wait till they open their new CGC offices in Los Angeles with a whole new group of relaxed graders…

Spicoli!!

Edited July 2, 2021 by GreatCaesarsGhost

[batman_fan]

13 hours ago, G G ® ™ said:

I wonder if they'll scrap the Boards?  

Will likely come down to a value analysis.  I think in general boards are good for driving interest and demand.  Maybe more censoring of negative content about CGC (I know several board members will cheer this).

I also suspect a lot of work figuring out how to “sweat the product” which is basically squeezing out every potential penny from what they are already doing.  The company I work for is epic at this.  Buy a mismanaged company, dump all upper management, cut expenses to align with what actually needs to be done, and then raise prices to the end customers.  Of course the customers scream but they just say “well you can just buy it from someone else, oh wait there is no one else, suck it up buttercup”

[batman_fan]

10 hours ago, Pickie said:

So, if I get this right, every second GA comic gets a 9.8 now?  

I think it will be more like

Grading fees = $100 + $10^(grade you want - actual grade)

[Cat-Man_America]

12 hours ago, lou_fine said:

Or to put it in more simplified non-business terms...........CGC is like a grain of sand, while CCG is the sandbox which CGC's grain of sand resides in, and the Blackstone Group is the the entire beach which CCG's sandbox resides in.  

From the report, it sounds as though this transaction places a value on CCG of more than $500M, while the market cap of the Blackstone Group itself which trades on the NYSE is approaching $120B.  

Good point, these cats are focused on the big picture, not the minutia...

Spoiler

 

[cheetah]

17 hours ago, G G ® ™ said:

I wonder if they'll scrap the Boards?  

I think it would be hard to imagine them retaining the rather lax standards towards bad-mouthing CGC that the prior owners tolerated.

 

[fifties]

7 hours ago, G G ® ™ said:

 

If a book is near mint, great, but how can a book be near mint plus etc?  Crazy to me.

It would be near mint plus if you're the seller...

[Paul © ® ⚽️💙™]

Just now, fifties said:

7 hours ago, G G ® ™ said:

 

If a book is near mint, great, but how can a book be near mint plus etc?  Crazy to me.

It would be near mint plus if you're the seller...

And that is the crux.

[Cat-Man_America]

5 hours ago, batman_fan said:

Will likely come down to a value analysis.  I think in general boards are good for driving interest and demand.  Maybe more censoring of negative content about CGC (I know several board members will cheer this).

 

Agree on the cost/benefit analysis and doubt there'll be much, if any, change.  Chat boards help fuel investment interest.  

Content is already censored.  Yes, public criticism could be curtailed further, but in the long run that might drive collectors away and impact auction bidding interest.

I think chat board activity might be the wrong place to look for tinkering.  I'd be more inclined to look for change in the CGC's policy on private sales through the Marketplace.  That could involve tightening rules or just dropping it altogether arguing it's just too difficult to police.  Also, new management may see a longer term business benefit to shifting all private board sales to auctions (...and that's without even taking into account the perceived coziness between the CGC and HA).

5 hours ago, batman_fan said:

I also suspect a lot of work figuring out how to “sweat the product” which is basically squeezing out every potential penny from what they are already doing.  The company I work for is epic at this.  Buy a mismanaged company, dump all upper management, cut expenses to align with what actually needs to be done, and then raise prices to the end customers.  Of course the customers scream but they just say “well you can just buy it from someone else, oh wait there is no one else, suck it up buttercup”

So, will the new sheriff in town be perceived as a Jedi knight or the Empire?

Collectors don't like leaving money on the table nor being nickel-and-dimed to death, but there are usually options.  

In the real world there are trade-offs any way you look at it.   

Edited July 2, 2021 by Cat-Man_America

[MrBedrock]

19 hours ago, G G ® ™ said:

I wonder if they'll scrap the Boards?  

[batman_fan]

17 minutes ago, Cat-Man_America said:

Agree on the cost/benefit analysis and doubt there'll be much, if any, change.  Chat boards help fuel investment interest.  

Content is already censored.  Yes, public criticism could be curtailed further, but in the long run that might drive collectors away and impact auction bidding interest.

I think chat board activity might be the wrong place to look for tinkering.  I'd be more inclined to look for change in the CGC's policy on private sales through the Marketplace.  That could involve tightening rules or just dropping it altogether arguing it's just too difficult to police.  Also, new management may see a longer term business benefit to shifting all private board sales to auctions (...and that's without even taking into account the perceived coziness between the CGC and HA).

So, will the new sheriff in town be perceived as a Jedi knight or the Empire?

Collectors don't like leaving money on the table nor being nickel-and-dimed to death, but there are usually options.  

In the real world there are trade-offs any way you look at it.   

I am thinking the new owners will be more like Jaba the Hutt

[MrBedrock]

8 hours ago, N e r V said:

Wow. I didn’t realize Blackstone’s market cap was almost as much as Bedrock’s…

The next step towards World domination...Bedrock City Beer!!!

Our collaboration with No Label Brewing Co. is back! “Up, Up, and Away” Hazy IPA, featuring art by the incredible Aaron Lopresti, is here to save the summer! It’s available today at the No Label taproom and everywhere else! (Keep an eye out for awesome displays like this at H-E-B!)

Unfortunately only available in the Houston area at this time.

 

Edited July 2, 2021 by MrBedrock

[comicdonna]

19 hours ago, G G ® ™ said:

I wonder if they'll scrap the Boards?  

 

[Paul © ® ⚽️💙™]

All tied in....

[tth2]

10 hours ago, batman_fan said:

Will likely come down to a value analysis.  I think in general boards are good for driving interest and demand.  Maybe more censoring of negative content about CGC (I know several board members will cheer this).

I also suspect a lot of work figuring out how to “sweat the product” which is basically squeezing out every potential penny from what they are already doing.  The company I work for is epic at this.  Buy a mismanaged company, dump all upper management, cut expenses to align with what actually needs to be done, and then raise prices to the end customers.  Of course the customers scream but they just say “well you can just buy it from someone else, oh wait there is no one else, suck it up buttercup”

Market dominance. 

[Professor K]

I wonder if some time in the near future people will pay a premium for books graded "Pre-BS" (Pre-Blackstone). I hope we don't see a drastic or even noticable difference in the grading standards. 

[tth2]

2 minutes ago, Professor Chaos said:

"Pre-BS"

  

[N e r V]

8 minutes ago, Professor Chaos said:

I wonder if some time in the near future people will pay a premium for books graded "Pre-BS" (Pre-Blackstone). I hope we don't see a drastic or even noticable difference in the grading standards. 

Tens for everyone! 

 

[N e r V]

5 hours ago, MrBedrock said:

The next step towards World domination...Bedrock City Beer!!!

Our collaboration with No Label Brewing Co. is back! “Up, Up, and Away” Hazy IPA, featuring art by the incredible Aaron Lopresti, is here to save the summer! It’s available today at the No Label taproom and everywhere else! (Keep an eye out for awesome displays like this at H-E-B!)

Unfortunately only available in the Houston area at this time.

 

[Professor K]

43 minutes ago, tth2 said:

  

This guy gets it. Seriously, I know I am probably missing some facts which would make my opinion BS as well, I only know what I read in the article.

This for one - "CCG’s leadership team will remain in place, combining their experience and expertise with Blackstone’s extensive resources. "  

So the CGC "leadership team" will remain in place. Meaning their not giving everyone their pink slips? What about the graders? Outsourced to Bratslavia perhaps?  As far as what is meant by "Blackstones extensive resources" I don't know what that means or how it helps the grading business for the better. Sounds good though. 

And this - “We are thrilled to be partnering with Blackstone during this key point in the industry as the collectibles market continues to accelerate and attract new collectors and investors,” added Steven R. Eichenbaum, CEO at CCG. “From the moment we met the Blackstone team, we could tell that we shared the same vision for the future of our company and the global collectibles industry.”

Partnering? They just bought the majority of the company. I guess technically that's a partnership. And I wish I knew what that vision of the future is. Enough of me being cynical, all I really care about is that the grading standards remain the same.

Edited July 3, 2021 by Professor Chaos
spelling correction