"CGC Submission Fee Adjustment"? 3 3

[Rhymenoceros]

On 7/21/2021 at 8:38 PM, eddly said:

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

They actually flat out state they will NEVER do that 

[Waylander]

For those who have sent in high value books, if you have paid for a WalkThrough and valued your book based on a Raw NM (for arguments sake let's say its an ASM 129), but it grades say a 9.6, would you be asked to pay the difference? 

Edited July 22, 2021 by Waylander

[THE_BEYONDER]

So....

 

Are we about to experience a loose phase of grading?  Higher grades mean more tier bumps...no?

 

[Gaard]

On 7/21/2021 at 8:26 PM, wiparker824 said:

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 

Wouldn't it be great if they actually outlined their procedures (for this and other things)?

[Crops068]

On 7/21/2021 at 2:35 PM, NewWorldOrder said:

Incorrect.

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

They clearly state in policy they are not altering the declared value which is how they handle the insurance claim if one arises.

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

 

[Rhymenoceros]

On 7/22/2021 at 9:53 AM, Gaard said:

Wouldn't it be great if they actually outlined their procedures (for this and other things)?

Exactly what I'm advocating for now after experiencing this tier bump on a small FMV threshold. Less mystery and more transparency in policies that we agree to by submitting books. Again, I'm not "upset" by the outcome in getting the 9.8; rather the lack of clear guidelines and understanding among CGC customer service staff to be able to answer questions if it's going to be enforced this closely. 

[manetteska]

On 7/22/2021 at 10:01 AM, Crops068 said:

On 7/21/2021 at 2:35 PM, NewWorldOrder said:

Incorrect.

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

They clearly state in policy they are not altering the declared value which is how they handle the insurance claim if one arises.

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

This guy (NWO) always knows everything -- except when he doesn't, which is often.

I also enjoy the first sentence of that third paragraph:

"CGC does not assign values to collectibles. If CGC determines that a collectible is undervalued and does not qualify for the tier or services selected, it may adjust the tier and charge the appropriate difference in CCS services, grading and/or services fees based on its determination of the collectible’s current Fair Market Value."

Perhaps it's semantics, but how can one not assign a value yet determine something is undervalued using a determination of the Fair Market Value?

Edited July 22, 2021 by manetteska
name for clarity

[Rhymenoceros]

On 7/22/2021 at 11:35 AM, manetteska said:

This guy always knows everything -- except when he doesn't, which is often.

I also enjoy the first sentence of that third paragraph:

"CGC does not assign values to collectibles. If CGC determines that a collectible is undervalued and does not qualify for the tier or services selected, it may adjust the tier and charge the appropriate difference in CCS services, grading and/or services fees based on its determination of the collectible’s current Fair Market Value."

Perhaps it's semantics, but how can one not assign a value yet determine something is undervalued using a determination of the Fair Market Value?

 

 

Edited July 22, 2021 by Rhymenoceros

[Crops068]

On 7/22/2021 at 11:35 AM, manetteska said:

This guy always knows everything -- except when he doesn't, which is often.

I also enjoy the first sentence of that third paragraph:

"CGC does not assign values to collectibles. If CGC determines that a collectible is undervalued and does not qualify for the tier or services selected, it may adjust the tier and charge the appropriate difference in CCS services, grading and/or services fees based on its determination of the collectible’s current Fair Market Value."

Perhaps it's semantics, but how can one not assign a value yet determine something is undervalued using a determination of the Fair Market Value?

I think the semantics is in the word "assign", I think they are taking the literal use of the assign in this case by the submitter assigning a value on the submission form.  CGC is stating they will not themselves assign a value if left blank or even overwrite the value on the form.  But in the event a submitter assigns a value of $400 in the modern tier for a book that is lets say a $10k book that falls in the modern category, they have the right to alter the service tier to the appropriate level.  They will though keep the insurance designated declared value the same as that is completely based on what the submitter provided and not what CGC has determined was an error.

I am curious if they have specific graders for specific tiers?  So you wouldn't want your high end book being reviewed by a modern grader instead the walkthrough grader has more experience in that field.

[Crops068]

On 7/22/2021 at 1:24 PM, Count D. Monet said:

Yeah kinda.

https://www.cgccomics.com/grading/cgc-graders/

Crazy they are handling that much volume with only 17 people.  Of course the TATs are showing us they are definitely struggling.

[jsilverjanet]

On 7/22/2021 at 11:35 AM, manetteska said:

This guy (NWO) always knows everything -- except when he doesn't, which is often.

 

[jsilverjanet]

On 7/22/2021 at 1:24 PM, Count D. Monet said:

Yeah kinda.

https://www.cgccomics.com/grading/cgc-graders/

there's a pattern

 

[wombat]

I don't think it could be any clearer from CGC's own statement. Bump up a tier if they think you undervalued the book? Yes. Adjust the value for insurance purposes? No. 

[Crops068]

On 7/22/2021 at 2:00 PM, wombat said:

I don't think it could be any clearer from CGC's own statement. Bump up a tier if they think you undervalued the book? Yes. Adjust the value for insurance purposes? No. 

I wonder if you can call in and change the declared value when they bump?

[awakeintheashes]

On 7/22/2021 at 10:25 AM, THE_BEYONDER said:

So....

 

Are we about to experience a loose phase of grading?  Higher grades mean more tier bumps...no?

 

I think we are going to experience a loose phase of people starting threads (before a grade is assigned) about the potential grade they received or damage by CGC because their submission was not upcharged. 

Oh and don’t forget about blaming people in the “Hey, Buddy, Can You Spare a Grade” thread. 

[Rhymenoceros]

On 7/22/2021 at 3:44 PM, awakeintheashes said:

I think we are going to experience a loose phase of people starting threads (before a grade is assigned) about the potential grade they received or damage by CGC because their submission was not upcharged. 

Oh and don’t forget about blaming people in the “Hey, Buddy, Can You Spare a Grade” thread. 

 
Time will tell if CGC will be cracking down on borderline FMV tier adjustments based on CGC sold data, or if I just got unlucky as some have said 

Edited July 22, 2021 by Rhymenoceros

[THE_BEYONDER]

On 7/22/2021 at 2:46 PM, jsilverjanet said:

[manetteska]

On 7/22/2021 at 3:53 PM, Rhymenoceros said:

 
Time will tell if CGC will be cracking down on borderline FMV tier adjustments based on CGC sold data, or if I just got unlucky as some have said 

This example, to me, is a very odd and specific case.

While ASM 300s were selling for $2000+ people were still submitting as Modern. Were those getting bumped a tier and people understood in those scenarios, hence no commentary?

[Crops068]

On 7/23/2021 at 9:16 AM, manetteska said:

This example, to me, is a very odd and specific case.

While ASM 300s were selling for $2000+ people were still submitting as Modern. Were those getting bumped a tier and people understood in those scenarios, hence no commentary?

I know of a couple books that were selling for well over the declared value max that did not get bumped.  Ultimate Fallout #4 and Star Wars Clone Wars #1 are just a couple examples.  Even raw are way above now.

[manetteska]

On 7/23/2021 at 9:32 AM, Crops068 said:

On 7/23/2021 at 9:16 AM, manetteska said:

This example, to me, is a very odd and specific case.

While ASM 300s were selling for $2000+ people were still submitting as Modern. Were those getting bumped a tier and people understood in those scenarios, hence no commentary?

I know of a couple books that were selling for well over the declared value max that did not get bumped.  Ultimate Fallout #4 and Star Wars Clone Wars #1 are just a couple examples.  Even raw are way above now.

Exactly. Will be interesting to see if this becomes the norm or is an anomaly. Everyone says it's no big deal until it happens to them.

Would be quite a bump, but within CGC's guidelines to upgrade specific Moderns they believe are a 9.8 up to Express or Walkthrough tiers with the associated charges.

But all that is "what if" / "what about that" until or unless more examples pop up.