"CGC Submission Fee Adjustment"? 3 3

[NewWorldOrder]

On 7/20/2021 at 10:36 AM, SuperBird said:

At the rate they are processing my submissions, they will all have to get bumped from Economy to Standard.  

Be happy then 

[Rhymenoceros]

On 7/21/2021 at 2:00 PM, NewWorldOrder said:

I understand the frustration of the argument that CGC is in the grading business not the valuation business.  However, let's say you the customer submitted an invoice like I did a couple years ago.  I submitted 10 copies of the same book in the modern fast track tier.  

8 got graded CGC 9.8 as expected

2 got CGC 9.9 (I thought one had a chance)

Now if CGC didnt bump me then if the package was lost in the mail they were only going to cover me no more than $200, and or insurance.

So its a way #1 for them to make more money and #2 protect you as well.

Point being if CGC just mailed you back your CGC 9.9, and it's now worth considerably higher than $200, would you be okay conversely  with them not bumping you if the package was damaged or lost in the mail?  You cant have it both ways is my point.  

aka Your book is now worth this, and should have been submitted in a higher value tier.  More often that not is justifiable for them to do so, and honestly if CGC bumped all my books I am going to be up much higher than my CGC fees in the long run.  CGC wants to be paid for the risk of handling, grading, and shipping your books.  Think about it this way if a book is now worth $10k, and you only paid $18 to get it graded how does that benefit CGC for the risk of grading that book?  The transaction has to be worth their time for taking on that risk as well. 

I just submitted a couple books Express, I hope to God they get pumped to Walkthrough!  

I don't believe they increase the insurance value... they just charge you more while bumping the tier up. If something would happen, according to their own terms, you would only be paid what you the submitter entered on the form. At least in my case. Perhaps there are exceptions. 

Edited July 21, 2021 by Rhymenoceros

[NewWorldOrder]

On 7/20/2021 at 5:46 PM, wombat said:

It would seem very weird to me if it was based on raw value and not graded value. 

They use GPA, that is has been known for 15 years, and or other available information from past auctions or known sales.  Just like we do.

Maybe I am at fault here, nope I just check and this thread is not from 2005. 

Edited July 21, 2021 by NewWorldOrder

[NewWorldOrder]

On 7/21/2021 at 12:33 PM, Rhymenoceros said:

I don't believe they increase the insurance value... they just charge you more while bumping the tier up. If something would happen, according to their own terms, you would only be paid what you the submitter entered on the form. At least in my case. Perhaps there are exceptions. 

Incorrect.

Almost 20 years of submitting CGC comics and being bumped occasionally.   Tier status bump changes automatically changes insurance values. 

Edited July 21, 2021 by NewWorldOrder

[Rhymenoceros]

On 7/21/2021 at 2:34 PM, NewWorldOrder said:

They use GPA, that is has been known for 15 years, and or other available information from past auctions or known sales.  Just like we do.

Maybe I am at fault here, nope I just check and this thread is not from 2005. 

For those who haven't been here for 15 years, can you provide a current link to where CGC makes that determination clear to submitters?

[NewWorldOrder]

On 7/21/2021 at 12:55 PM, Rhymenoceros said:

For those who haven't been here for 15 years, can you provide a current link to where CGC makes that determination clear to submitters?

Where do you think they find out market info from?  They just dont make up values in their heads. 

I had books damaged, they paid me GPA prices from my valuation which I gave them and they agreed.

Not that hard to figure out.   

They cover that in so many words in the company's liability section in case of damage or loss while in their procession.  

Let me ask you this......

You submit a ASM #300 in the slow track modern tier.  CGC gives it a a grade of CGC 9.8.

What should CGC do? 

 

Edited July 21, 2021 by NewWorldOrder

[NewWorldOrder]

On 7/21/2021 at 1:09 PM, Count D. Monet said:

Thank you for giving me hope that most people here are not clueless! 

[Rhymenoceros]

I'm glad two people agree that a single obscure post on the forums is a sufficient way to communicate an important policy with everyone. 

Two separate customer service reps could not or would not tell me what is in that post. How is that transparent or obvious? 

In the asm 300 9.8 case referenced above, that is an extreme and a different ballpark than my example. Even a raw NM asm 300 goes for more than the $400 modern tier max. 

 

Edited July 21, 2021 by Rhymenoceros

[NewWorldOrder]

On 7/21/2021 at 1:21 PM, Rhymenoceros said:

I'm glad two people agree that a single obscure post on the forums with an unknown date is a sufficient way to communicate an important policy.

Two separate customer service reps could not or would not tell me what is in that post. How is that transparent or obvious? 

In the asm 300 9.8 case referenced above, that is an extreme and a different ballpark than my example. Even a raw NM asm 300 goes for more than the $400 modern tier max. 

 

You can still submit it modern tier for now.

Okay I see what book was bumped.  Honestly you got a outlier, 1st time in a long I have seen them bump on such a small amount.  Book is only worth $600 from what I saw on GPA.

What I do agree with is you got unlucky.  It happens sometimes.

 

Edited July 21, 2021 by NewWorldOrder

[Rhymenoceros]

Read my update on pg 4. I'm not upset at the outcome. I think the policy of sources from that screenshot should be clear and well communicated among the company, assuming it's current. It has not been consistently enforced from others' posts in this thread. Maybe it will be, moving forward with the new management as some have predicted. 

[Rhymenoceros]

On 7/21/2021 at 3:27 PM, Count D. Monet said:

Who cares? Value it at what you'd like insurance to pay out for it, and if you get bumped up a tier, great. If you're living hand to mouth where a tier bump is going to ruin your finances you should probably be concentrating on other more important things.

Not the point and doesn't apply, but I appreciate your concern. 

[Rhymenoceros]

On 7/21/2021 at 3:22 PM, Count D. Monet said:

It clearly says March 1

Noted 

[NewWorldOrder]

On 7/21/2021 at 1:37 PM, Rhymenoceros said:

Read my update on pg 4. I'm not upset at the outcome. I think the policy of sources from that screenshot should be clear and well communicated among the company, assuming it's current. It has not been consistently enforced from others' posts in this thread. Maybe it will be, moving forward with the new management as some have predicted. 

re-read my last post I saw the book you said in question, just edited it

[Rhymenoceros]

On 7/21/2021 at 3:32 PM, NewWorldOrder said:

You can still submit it modern tier for now.

Okay I see what book was bumped.  Honestly you got a outlier, 1st time in a long I have seen them bump on such a small amount.  Book is only worth $600 from what I saw on GPA.

What I do agree with is you got unlucky.  It happens sometimes.

 

Thanks for the level headed reply after understanding the situation 

[wiparker824]

On 7/21/2021 at 12:35 PM, NewWorldOrder said:

Incorrect.

Almost 20 years of submitting CGC comics and being bumped occasionally.   Tier status bump changes automatically changes insurance values. 

Are you sure on this? Someone asked this to CGC regarding cards a few months back and the answer was no (I’ll post screenshot), they bump the tier but not the return shipping insurance. I’d assume they’d be doing the same for comics… but who knows maybe it’s just the wild Wild West with cards, and that doesn’t apply to comics or maybe this admin was just wrong. I don’t know.

Edited July 21, 2021 by wiparker824

[Fisionbomb]

On 7/21/2021 at 5:40 PM, wiparker824 said:

Are you sure on this? Someone asked this to CGC regarding cards a few months back and the answer was no (I’ll post screenshot), they bump the tier but not the return shipping insurance. I’d assume they’d be doing the same for comics… but who knows maybe it’s just the wild Wild West with cards, and that doesn’t apply to comics or maybe this admin was just wrong. I don’t know.

Nice of Paul to respond... Which he "DID NOT HAVE TO DO"

Edited July 21, 2021 by Fisionbomb
.

[NewWorldOrder]

On 7/21/2021 at 2:40 PM, wiparker824 said:

Are you sure on this? Someone asked this to CGC regarding cards a few months back and the answer was no (I’ll post screenshot), they bump the tier but not the return shipping insurance. I’d assume they’d be doing the same for comics… but who knows maybe it’s just the wild Wild West with cards, and that doesn’t apply to comics or maybe this admin was just wrong. I don’t know.

When CGC' bumps you there is an admission of written proof they are increasing the value of that book so its should be protocol to automatically increase the insurance if not that is something they need to look into.  However, from past experiences if damage occurs they usually use proper common sense measures to help the customer out.  So even if Paul's right I have only seen them do the right thing in off chance damage happens to one of my books.  On my end I have alway been taken care of in case of a problem with CGC with a simple email and a credit on my account.

Now I will say I dont really have to do much with CGC insurance anyway currently because I have CIS Insurance.  99% of all my orders ship UPS or Fed-Ex ground regardless of value.  

Until there is a problem I wouldn't worry to much, and if one knows they got bumped (usually before shipping, but that could have changed) you can call and ask to increase the insurance yourself just to be safe.

Edited July 21, 2021 by NewWorldOrder

[KEY ISSUES Comics]

On 7/21/2021 at 1:12 PM, wiparker824 said:

You’re wrong, I wish you were right but it’s not the case when dealing with moderns like this. A 9.8 raw is not the same as one that is encapsulated with the label, regardless of what anyone’s initial opinion is on it, the slab matters to buyers for these books. It matters a lot less to a buyer of Action 1 assuming someone credible confirms it’s rough grade and that it’s unrestored. This is a horrible comparison.

Right on the money. I agree 100%.

[wiparker824]

On 7/21/2021 at 3:52 PM, NewWorldOrder said:

When CGC' bumps you there is an admission of written proof they are increasing the value of that book so its should be protocol to automatically increase the insurance if not that is something they need to look into.  However, from past experiences if damage occurs they usually use proper common sense measures to help the customer out.  So even if Paul's right I have only seen them do the right thing in off chance damage happens to one of my books.  On my end I have alway been taken care of in case of a problem with CGC with a simple email and a credit on my account.

Now I will say I dont really have to do much with CGC insurance anyway currently because I have CIS Insurance.  99% of all my orders ship UPS or Fed-Ex ground regardless of value.  

Until there is a problem I wouldn't worry to much, and if one knows they got bumped (usually before shipping, but that could have changed) you can call and ask to increase the insurance yourself just to be safe.

Yeah I’m sure the insurance is increased for in house, and they have the ability to absorb in house damage claims if they do chose and I’m sure you’re right they’d do the right thing if they increased the value and damage the book after the fact. All that said that all goes out the window with return shipping, they’re just buying insurance on your behalf with the carrier, so it’s the carrier who will handle and pay out the claim not them. So if they’re not upping the return insurance you’re not going to get a dime more than you declare with USPS, and even getting the full declared value is a bit of a hassle but entirely possible just a matter of what they’re actually declaring.

In any case this thread was a good discussion, but it does lend more to CGC needing to update their page about declared value to be a bit more clear. Hopefully they make time to do that after they grade all the books of mine I’m waiting on 

[eddly]

As long as they bump you down a tier too if it turns out you overvalued a book…