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"CGC Submission Fee Adjustment"?
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Started by Rhymenoceros,

123 posts in this topic

carcrawfordfan

carcrawfordfan

Posted
Posted
On 7/20/2021 at 1:19 PM, Count D. Monet said:

They've had this policy for 20 years.

They did not really ENFORCE this until recently and it was only on certain cards. They started hiring staff a few years ago to solely concentrate on upcharging people. Before it was on egregious examples like Jordan rcs and things of that ilk. I didn't get upcharges for years and years and now get them in almost every order. I am sure the new CGC investors are all over this as they have some familiarity with PSA and card grading. 

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musicmeta

musicmeta

Posted
Posted
On 7/20/2021 at 12:40 PM, carcrawfordfan said:

They did not really ENFORCE this until recently and it was only on certain cards. They started hiring staff a few years ago to solely concentrate on upcharging people. Before it was on egregious examples like Jordan rcs and things of that ilk. I didn't get upcharges for years and years and now get them in almost every order. I am sure the new CGC investors are all over this as they have some familiarity with PSA and card grading. 

I think so.  The CGC investors getting their fingers in the mix already.  I expect this to be a more normal occurrence since it means more money coming in. 

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Rhymenoceros

Rhymenoceros

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Posted (edited)
On 7/20/2021 at 2:34 PM, gregwynn said:

Find it interesting. Wonder if they have an Ahole Grader.... My last Standard Submission i had an ASM 101 Grade 9.6....They didn't bump it to Express or Walkthru price.

Now THAT is interesting... that's an $8 - $10K book, right?  (After grading)

Edited by Rhymenoceros
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Rhymenoceros

Rhymenoceros

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On 7/20/2021 at 3:25 PM, Tnexus said:

Out of curiosity, did you have a Pre-screen on it? I could see them using that as a justification to upcharge. If you believe it's a 9.8, then the value is potentially greater.

No pre-screen. I was told this:

"Based on the condition of the book and the projected grade the graders declared the book to be undervalued. Here at CGC we do not buy, sell, or trade books , but if you submit a book that is undervalued in the grader's view ,  we will bump the book up to the appropriate tier of service
 
The grades will be available once the submission has been finalized and shipped, this submission has been graded and is now being encapsulated in our encapsulation room."
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Lightning55

Lightning55

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Posted (edited)
On 7/20/2021 at 11:37 AM, Mylark said:

https://www.cgccomics.com/submit/declared-value-policy/

Regarding the policy as linked above:

"By submitting a collectible and listing a declared value, the submitter agrees that the declared value represents the current fair market value (FMV) of the submitted collectible."

They must be referring to raw value, as "current fair market value of the submitted collectible" would obviously still be in its raw state, not graded yet.  To use its future graded value as DV is certainly not current fair market value.

 

In the section on Fair Market Value, both of these contradictory statements are in the same paragraph:

"For the purposes of this Policy, the “current Fair Market Value” is the value of the collectible if it were to be sold, as determined by CGC in its sole reasonably exercised discretion."

"CGC reserves the right to use the declared value listed by the submitter on the CGC Submission Form as the current Fair Market Value, and in no event will CGC’s determination of current Fair Market Value exceed the declared value listed by the submitter on the CGC Submission Form."

Wow, that policy is as clear as mud.

Translation of policy - If your $400 comic becomes a $1000 comic while it ferments at CGC, we will charge you more to grade it.  If that same comic gets lost or destroyed while at CGC, we'll only consider its replacement value at your $400 DV, if that, because that's all you said it was worth, sucker.  Talk about hypocritical.

 

Edited by Lightning55
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Number 6

Number 6

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Posted
On 7/20/2021 at 1:44 PM, Count D. Monet said:

Why?

Because a few posts back it was theorized that since members of CGC’s new ownership are intimately familiar with PSA’s SOP that they might possibly be applying the same methodology to how CGC handles these situations. 

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gregwynn

gregwynn

Posted
Posted
On 7/20/2021 at 3:59 PM, Rhymenoceros said:

Now THAT is interesting... that's an $8 - $10K book, right?  (After grading)

Not sure that high but definitely several times higher than the standard 1k limit. 

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sckao

sckao

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Posted (edited)

Are we all assuming that they're recording everything instantly? Most likely, your book may be through most of the process before the status has even been recorded. If your book has already been graded, then they know what the approximate slabbed value would be historically. Then it makes logical sense to see and understand if your fee needs to be adjusted or not. (And you'll probably instantly see why once you see your grade.)

Edited by sckao
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