Exposing FRAUD And DECEPTION - A Must Watch! 18 18

[Jeffro.]

On 8/26/2021 at 11:32 AM, blazingbob said:

Everyone cannot be an expert in everything.

You wouldn't know it by some of the yahoos on this board who post like they are experts

[onlyweaknesskryptonite]

On 8/26/2021 at 2:14 PM, valiantman said:

Not expert, but it doesn't take much to be "better than average" at something.  As long as you're better than average, you're doing fine on any particular subject. 

Expert takes 10,000 hours of experience, but "better than average" only requires reading more than one article on a topic.  Average reads one article.  Below average hates all those wordy-words.

On 8/26/2021 at 2:22 PM, Jerkfro said:

You wouldn't know it by some of the yahoos on this board who post like they are experts

 

[comicwiz]

On 8/26/2021 at 2:15 PM, COI said:

Joseph, essentially what I hear you saying is that the ends justify the means, as in, he's asking the right questions and getting some important information out there, which justifies the flawed arguments, serious accusations levied, and the expose-first-understand-later modus operandi; I don't agree with that at all.

What you find beneficial about the video and what the author claims his intentions are, simply aren't appropriate for the subject matter being discussed. He's focused on Heritage Auctions and record prices on six or seven figure collectibles. One of the main questions asked in the video is 'who are these buyers?' That's a great question, and I'd love to know that as well. The answer that Karl gives, or at least alludes to, is that the buyers aren't "real" and that Halperin and a small crew are setting these records and recirculating the games in an attempt to rev up the rest of the high end market. Putting aside for a second that he can't prove that, because again, who are the buyers, let's assume he's correct. If the buyers aren't real, who is this video trying to protect? 

This is not an attack on Karl, but there's something absurd about a guy outside of the collector market, making videos about six and seven figure sales and claiming that he's trying to protect the hobby and the people involved. You mean, the people spending five, six and even seven figures on collectibles can't do the fact-finding he did? People spending 10s or 100s of thousands of dollars can't put their big-boy pants on and take responsibility for their purchases? These buyers are so unsophisticated - an assumption which belies their ability to spend 10s of thousands on games - that they're going to be taken by the WATA founder puffing his chest on Pawn Stars? Karl spends the end of the video trying to demonstrate the harm this does to the everyday collector trying to get a Mario 64 cart because PASSION!, but we're all seasoned collectors here, and we understand that there's going to be virtually no long-term trickle-down from the sale of the top graded Mario 64 to the loose carts. You said it yourself, the long-term collector isn't really the target of this video, but the targets of this video also aren't the ones who are going to be impacted by the alleged manipulation, so again, swiss cheese.

So no, I don't think the ends justify the means, and this mentality to EXPOSE that has become rampant on the internet flies in the face of what I THOUGHT were foundational ethics, like the right to due process, innocent before proven guilty, and an established methodology for determining what constitutes evidence and a sound argument. It's funny how these righteously indignant content creators, screaming about ethics and FRAUD and DECEIT, aren't too concerned with the ethics of their own content, and don't seem to understand the impact that their mere accusations - given the size of their audience - might have on those being accused. 

My main issue in the way you are making your argument is that you selectively omit information, which Karl has not only brought up in the video himself, but with your seasoned experience on these boards, should know too. And that is the fact pattern of Heritage - particularly Halperin, who initially denied the entire NP Gresham scandal, then later admitted to what it was. A way for Heritage to bid on its own auctions. That fact pattern is enough to make people question the meteoric rise of an SMB that sold for 30K in 2017, and in 4 years is selling for 1.5M. And it's not only Karl that was suspicious of Jeff Meyers, Dain Anderson and the Carolina Collection. What he did is provide the  evidence that calls into question the entire manner with which these games are acquired, right through to the way they are sold. If we didn't have the historical context of Heritage and Halperin already having brushes with the FTC for this exact manipulative wildly_fanciful_statement, I'd understand where you're coming from, but with all due respect, all I can think in my mind when you describe your issue with this investigation is you probably don't like his choice of fashion or his voice,  and that's why you don't believe any of it.

Edited August 27, 2021 by comicwiz

[COI]

On 8/26/2021 at 3:30 PM, comicwiz said:

My main issue in the way you are making your argument is that you selectively omit information, which Karl has not only brought up in the video himself, but with your seasoned experience on these boards, should know too. And that is the fact pattern of Heritage - particularly Halperin, who initially denied the entire NP Gresham scandal, then later admitted to what it was. A way for Heritage to bid on its own auctions. That fact pattern is enough to make people question the meteoric rise of an SMB that sold for 30K in 2017, and in 4 years is selling for 1.5M. And it's not only Karl that was suspicious of Jeff Meyers, Dain Anderson the Caroline Collection. What he did is provide the  evidence that calls into question the entire manner which which these games are acquired, right through to the way they are sold. If we didn't have the historical context of Heritage and Halperin already having brushes with the FTC for this exact manipulative wildly_fanciful_statement, I'd understand where your coming from, but with all due respect, all I can think in my mind when you describe your issue with this investigation is you probably don't like his choice of fashion or his voice,  and that's why you don't believe any of it.

I'm not selectively omitting information. I'm talking about Karl's rhetoric, not Heritage's potential market manipulation. You're conflating my criticism of the video with a defense of Heritage/WATA, or at least, turning a blind eye to their activities. You say I "don't believe any of it"; any of what? I haven't said what I believe or don't believe about Heritage, and I said several times now that many of the questions Karl raises are valid.

I'm criticizing his argument, not HIM. And I've been talking about the video, not Heritage or Halperin or WATA. At no point did I say that I either believe or don't believe there is market manipulation going on. I just made my objections to Karl's video and his "journalistic" methods as clear as I can. You're focused on going after what you perceive as manipulation at all costs, and I'm saying I don't agree with the video's rhetoric. 

Once again, me saying this video isn't some smoking gun is not the same as saying everything is cool with Heritage or Halperin. I'm not sure how else to say it.

[NewWorldOrder]

On 8/25/2021 at 9:37 AM, wombat said:

This argument seems a bit odd to me. If you don't have the money to buy the book so you instead buy a fractional share, you had zero chance of losing the entire value of the book. In both examples you are losing 100% of what you put in if the value drops to zero. 

If the stock market falls to zero and stays at zero we are all dead anyway so it doesn't matter.  It's a rigged game might as well play along. 

Seriously though fractional shares at least when it comes to the stock market is a great way for any investor to dabble or slowly build their investment portfolio if you are on a budget.  Example, every month I put a $100 towards Amazon, so eventually I will have a 1 share in addition to my regular monthly buying of stocks, but I look at it from the standpoint of I don't care about how many shares I have it's more the amount of total money I have into Amazon in general.  If Amazon stock goes up 2% per day so does my total money with them.

While at this time I have no interest in buying any fractional shares of Action Comics #1, I fully understand why people would.  It's the question of who is housing the investment and are they a legit holding company is main concern I have. 

Either way fractional shares will inflate all the underlying assets involved because more people can throw their money at the asset than they could prior, hence inflating the overall cost/value of the market.

Edited August 26, 2021 by NewWorldOrder

[Roger66]

"One believes things because one has been conditioned to believe them.”
― Aldous Huxley

Regardless of who may be wrong or right here or whether the truth is a hybrid patina of grays - the fact remains we are talking about video games not medication, not housing and certainly nothing that is deemed essential in anyone's lives.  The fact that there has been an unprecedented meteoric spike in the value of what was essentially a fraction of today's price not so long ago - should have raised flashing alarms if not sirens in most peoples' minds but of course it didn't because "Greed, for lack of a better word, is good."  I am in no way condoning fraud, lying and unethical behaviors but pointing out a simple fact - you need 2 people to pull off a crooked transaction for a non-essential - the crooked seller and the naïve gullible buyer.  From my point of view - I never believed in video games as a collectible but respect those who do. I also know as a comic collector, I draw the line on paying a certain price point on certain books.  I refuse to allow the market to dictate to me what I have to spend when I intuitively believe something is over-valued and over-hyped.  I have zero sympathy for anyone allegedly negatively impacted in this current discussion be it a scam or a false-alarm because "you should have known better."  My 2-cents. 

“It is necessary to the happiness of man that he be mentally faithful to himself. Infidelity does not consist in believing, or in disbelieving, it consists in professing to believe what he does not believe.”
― Thomas Paine, The Age of Reason

[NewWorldOrder]

On 8/25/2021 at 3:05 PM, valiantman said:

I get no thrill from owning company stocks either.  
 

I am thrilled x4 times a year on each stock's ex-dividend date, compounding interest, and 10-12% annualized long term gains.  

Rather look at my stocks all day than any TMNT #1.......

 

[NewWorldOrder]

On 8/26/2021 at 2:24 PM, Roger66 said:

"One believes things because one has been conditioned to believe them.”
― Aldous Huxley

Regardless of who may be wrong or right here or whether the truth is a hybrid patina of grays - the fact remains we are talking about video games not medication, not housing and certainly nothing that is deemed essential in anyone's lives.  The fact that there has been an unprecedented meteoric spike in the value of what was essentially a fraction of today's price not so long ago - should have raised flashing alarms if not sirens in most peoples' minds but of course it didn't because "Greed, for lack of a better word, is good."  I am in no way condoning fraud, lying and unethical behaviors but pointing out a simple fact - you need 2 people to pull off a crooked transaction for a non-essential - the crooked seller and the naïve gullible buyer.  From my point of view - I never believed in video games as a collectible but respect those who do. I also know as a comic collector, I draw the line on paying a certain price point on certain books.  I refuse to allow the market to dictate to me what I have to spend when I intuitively believe something is over-valued and over-hyped.  I have zero sympathy for anyone allegedly negatively impacted in this current discussion be it a scam or a false-alarm because "you should have known better."  My 2-cents. 

“It is necessary to the happiness of man that he be mentally faithful to himself. Infidelity does not consist in believing, or in disbelieving, it consists in professing to believe what he does not believe.”
― Thomas Paine, The Age of Reason

When I was younger I looked at Bud Fox as a good dude that just got in way over his head.  As an adult I think Bud Fox was a stupid kid who couldn't handle the amazing lifestyle Gekko gave him.

The older I get the more I like Gekko!

 

Edited August 26, 2021 by NewWorldOrder

[onlyweaknesskryptonite]

On 8/26/2021 at 4:38 PM, NewWorldOrder said:

I am thrilled x4 times a year on each stock's ex-dividend date, compounding interest, and 10-12% annualized long term gains.  

Rather look at my stocks all day than any TMNT #1.......

 

Me looking at my stock dividends.  

[NewWorldOrder]

On 8/26/2021 at 2:54 PM, onlyweaknesskryptonite said:

Me looking at my stock dividends.  

Just don't' kidnap your boss at least!  

[MasterChief]

Perhaps like some/many here, I found it odd that Mark Wilson, the former Heritage employee and long-time comic dealer, would relay information to his son about his personal relationship and conversations with Jim Halperin concerning manipulating comic book prices to stimulate the market. Was Wilson mindful that his son was going to go public with that information?

Another case of a long-time comic book dealer who recently went public with personal Heritage insight was William (Bill) Hughes. For those that may not know, Hughes was a player in the hobby and comic book investment advisor in brokering some of the very first unprecedented Gold Age megadeals just after the launch of the certification age. Two of which were the sales of the "Pay Copy" of Marvel Comics #1 from Steve Geppi to Jay Parrino; and the sale of the Denver Copy of Marvel #1 from Steve Geppi to Jay Parrino. The latter transaction involving Heritage who arranged the private transaction (see article).

Additionally, Hughes, on behalf of Jay Parrino's The Mint, was involved with bringing the Nicolas Cage Collection to market. Both Heritage and The Mint jointly auctioned Cage's collection, one of the first certified collection to achieve national press coverage at the time (see article).

Hughes would go on to other business interactions with Heritage, but suffice to say, the relationship between the two would eventually unravel with Hughes suing after years of collaboration.

What I'll post is the beginning and the end of the Hughes grievance. The midstream legal wrangling you can search out for yourself. Make of the case what you will. In my opinion, however, the episode not only paints Hughes in a bad light, but also adds to the dark cloud that hangs over Heritage.
 

---

Complaint Review: Heritage Auctions
Submitted: Mon, May 26, 2014
Updated: Thu, July 17, 2014
Reported By: William Hughes

"Between 2001 and 2009 minimally, Heritage Auctions has used their vast financial resources, position in the collectibles industry and experience in manipulating the accounting of sales of consigned goods to steal, cheat and con clients who enter into consignment relationships with them in good faith. I personally entered into well over $3,000,000 worth of transactions with these crooks and ended up on the short end of the stick to the tune of hundreds of thousands, if not over a million dollars (I am still figuring out the magnitude of the deception and malfeasance on their part)..."

Link to original report and follow-up posts by Hughes: https://www.ripoffreport.com/reports/heritage-auctions/internet/heritage-auctions-heritage-comics-heritage-sports-collectibles-heritage-movie-posters-f-1149717#comment_7
 

---

After a period of time, the Hughes claim went to arbitration and then to trail court, with final adjudication by the Texas Court of Appeals. Here's the verdict issued by the appellate court...

Date: 05-08-2015
Case Style: Movie Poster House, Inc. v. Heritage Auctions, Inc.
Case Number: 05-14-01260-CV
Judge: Molly Francis
Court: Texas Court of Appeals, Fifth Court of Appeal from 160th Judicial District Court of Dallas County
Plaintiff's Attorney: Thomas E. Shaw for Heritage Auctions, Inc.
Defendant's Attorney: Robert J. Andreotti, Corey R. Herrick and Derrick J. Hahn for Movie Poster House, Inc.

Description: Movie Poster House, Inc. appeals the trial court’s summary judgment in favor of Heritage Auctions, Inc. In four issues, MPH contends the trial court erred because its claims are not barred by res judicata or collateral estoppel and the arbitrator abused his discretion by refusing to allow MPH to amend its statement of claims. We affirm.

In early 2008, Kenneth Mauer loaned William Hughes over $600,000 that was secured by artwork, coins, movie posters, sports memorabilia, and other collectibles owned by Hughes. Mauer perfected his security interest by filing a UCC-1 of the various items with the Texas Secretary of State. At the time, Hughes also held 50% ownership in MPH and was an officer and director in the company. When Hughes defaulted on his loan obligations, Mauer obtained a judgment against him for over $730,000. Mauer then filed an application for writ of garnishment against Heritage because Hughes regularly bought and sold artwork, coins, movie posters, sports memorabilia, and other collectibles through Heritage and Hughes believed Heritage held many of the items secured by his UCC-1 security interest. Heritage filed its answer, alleging that any interest Hughes had in the collateral had been consumed by charges due Heritage. After a subsequent audit determined Heritage had engaged in a “systematic pattern of overcharging and other wrongful conduct,” Mauer sued Heritage in November 2009 for various causes of action,
including fraud and civil conspiracy.

On May 23, 2012, MPH filed a petition in intervention, alleging that “[a]mong the specific goods purportedly ‘pledged’ to Heritage by Hughes was memorabilia actually belonging to MPH.” MPH sought (1) an accounting, including asking Heritage to identify any MPH property it held but had not sold and (2) in the event Heritage had collected proceeds that had not been tendered to MPH, a credit to MPH’s account for that amount. In response, Heritage filed an application to compel arbitration, noting that MPH had signed an Auction Consignment Agreement in November 2008 which contained a “valid, enforceable, and eminently fair arbitration agreement and all of its claims [fell] within its scope.” On June 5, 2012, the trial court granted Heritage’s request and ordered “the dispute” between Heritage and MPH to arbitration.

On January 28, 2013, MPH filed its detailed statement of claims with the arbitrator, asking for an accounting and a declaration that the pledge language in the November 2007 agreement between Heritage and Hughes was ineffective to grant Heritage a security interest in either Hughes’s shares of MPH stock or in the inventory MPH had consigned previously to Heritage. Several months later, MPH filed, without the arbitrator’s consent or approval, an
untimely amended statement of claims asserting six new causes of action for damages, including breach of contract and a claim for missing and/or damaged inventory. The arbitrator struck the amended claims but stated that, at the evidentiary hearing set for July 2013, he would address the propriety of allowing MPH to proceed with the claims.

Following the July hearing and a subsequent September 11, 2013 telephone hearing, the arbitrator ruled:

• the pledge language in the Hughes-Heritage agreement was ineffective to provide Heritage with a valid security interest in either Hughes’s shares of MPH stock or in the inventory MPH had consigned previously to Heritage;
• there was no legally enforceable agreement between MPH and Heritage that would allow Heritage to apply proceeds from the sales of MPH-consigned inventory to pay down Hughes’s debt to Heritage;
• Heritage’s contractual statute of limitations defense failed because of the doctrine of fraudulent concealment.

The arbitrator also determined Heritage was legally obligated to remit $29,949.46 to MPH: $23,078.90 from sales of MPH-consigned inventory that had been used to offset Hughes’s debt to Heritage and $6,870.56 in proceeds that had not been applied to any account. And the arbitrator awarded MPH $70,000 for its reasonable attorney’s fees and costs in connection with the arbitration proceeding.

The arbitrator then addressed why he denied MPH’s request to assert “multiple causes of action for damages based on Heritage’s retention of proceeds that should have been paid to [MPH] and to assert a claim, based on Heritage’s breach of contract, that the parties’ Auction Consignment Agreement be declared terminated and that [MPH’s] consigned inventory be ordered returned to it.” The basis for these claims was that Heritage failed to pay MPH the $29,949.46 in sale proceeds when it was legally required to do so. The arbitrator noted that in April 2012, before the arbitration proceeding began, principals of Heritage told representatives of MPH that Heritage had begun applying proceeds from the sale of MPH inventory to offset Hughes’s debt. The arbitrator concluded MPH knew or should have known of the misappropriation of funds in April 2012 and could have asserted such claims in its original demand for arbitration or in its January 2013 statement of claims. With respect to MPH’s proposed claim for missing or damaged inventory, the arbitrator noted MPH physically inspected its inventory consigned with Heritage in December 2012. Thus, MPH should have determined or known during that inspection or as a result of that inspection if any of the consigned inventory was missing or damaged and should have included any claims addressing the same in its January 2013 statement of claims. Finally, the arbitrator stated that in light of the evidence adduced at the July 15 and 16 hearing, it was unlikely MPH could show conduct on the part of Heritage sufficiently culpable to entitle MPH to additional or punitive damages under the Texas Deceptive Trade Practices and Consumer Protection Act, and MPH had been “made whole for its out of pocket loss by [the] award to it of $29,949.46.” There was no appeal of the arbitration award.

MPH then filed an amended petition in district court, incorporating the arbitration award and asserting new causes of action for breach of contract, conversion, theft of property, violations of the DTPA, common law fraud, and fraud by nondisclosure. Heritage filed an answer and a traditional motion for summary judgment, asserting MPH’s claims in the amended petition were barred by res judicata and/or collateral estoppel. The trial court granted Heritage’s summary judgment motion without specifying the grounds and dismissed MPH’s claims. This appeal followed. We begin with MPH’s argument that the arbitrator abused his discretion by refusing to allow MPH to amend its statement of claims during arbitration.

The parties’ consignment agreement provided they would arbitrate under the Federal Arbitration Act. Under the FAA, an arbitration award is presumed to be valid, and judicial review is “exceedingly deferential” and “extraordinarily narrow.” Myer v. Americo Life, Inc., 232 S.W.3d 401, 407−08 (Tex. App.―Dallas 2007, no pet.) (citing Sarofim v. Trust Co., 440 F.3d 213, 216 (5th Cir. 2006)). The statutory bases for vacating an arbitration award are outlined in the FAA. See 9 U.S.C. §§ 10-11. Refusal to allow an amendment of claims is not one of the statutory grounds for vacating an award. See id. “Under the FAA, the validity of an arbitration award is subject to attack only on the grounds listed in sections 10 and 11 of the Act.” Roehrs v. FSI Holdings, Inc., 246 S.W.3d 796, 805−06 (Tex. App―Dallas 2008, pet. denied).

Here, MPH complains the arbitrator should have allowed the company to file an amended statement of claims. Notably, MPH does not challenge the arbitration award or seek to vacate it. Because MPH does not raise a statutory ground to vacate or modify the award, we dismiss this issue. In its remaining issues, MPH claims the trial court erred by granting summary judgment on the grounds of res judicata or collateral estoppel.

We review the granting of a summary judgment de novo. Travelers Ins. Co. v. Joachim, 315 S.W.3d 860, 862 (Tex. 2010). The party relying on the affirmative defense of res judicata must prove (1) a prior final determination on the merits by a court of competent jurisdiction; (2) identity of parties or those in privity with them; and (3) a second action based on the same claims that were or could have been raised in the first action. Amstadt v. U.S. Brass Corp., 919 S.W.2d 644, 652 (Tex. 1996). “The judgment in the first suit precludes a second action by the parties and their privies on matters actually litigated and on causes of action or defenses arising out of the same subject matter that might have been litigated in the first suit.” Travelers Ins. Co., 315 S.W.3d at 862. What constitutes the subject matter of a suit requires an examination of the factual basis of the claim or claims in the prior litigation as well as an analysis of the factual matters making up the gist of the complaint. Barr v. Resolution Trust Corp., 837 S.W.2d 627, 630 (Tex. 1992). “Any cause of action which arises out of those same facts should, if practicable, be litigated in the same lawsuit.” Id. (citing Gracia v. RC Cola-7-Up Bottling Co., 667 S.W.2d 517, 519 (Tex. 1984)). Here, the parties are identical, and there is a prior final determination on the merits by a court of competent jurisdiction. See Ancor Holdings, LLC v. Peterson, Goldman & Villani, Inc., 294 S.W.3d 818, 826 (Tex. App.―Dallas 2009, no pet.) (arbitration award is treated the same as the judgment of a court of last resort). Thus, the only issue is whether the causes of action MPH sought to raise arose out of the same set of facts as addressed in the arbitration.

The record shows that, in February 2014, MPH sought to amend its pleadings to include claims for breach of contract, conversion, theft of property, violations of the DTPA, common law fraud, and fraud by nondisclosure. However, these claims arose out of the same set of facts that formed the basis for MPH’s previous claims: Mauer obtained a judgment against Hughes and sought to recover items held under the security agreement; Heritage claimed all the interest Hughes had in any collateral had been consumed by charges due Heritage; an audit showed Heritage had a “systematic pattern of overcharging and other wrongful conduct;” and MPH sought to protect its inventory and received credit for any proceeds from sales of its inventory. MPH’s amended claims arose out of the same facts, and therefore were barred by res judicata. See Barr, 837 S.W.2d at 631. We overrule MPH’s first and second issues. In light of our disposition of these issues, we need not address the third issue regarding collateral estoppel. See TEX. R. APP. P. 47.1.

Outcome: We affirm the trial court’s judgment.
141260F.P05
/Molly Francis/
MOLLY FRANCIS JUSTICE
Court of Appeals Fifth District of Texas at Dallas
JUDGMENT
MOVIE POSTER HOUSE, INC., Appellant
No. 05-14-01260-CV V.
HERITAGE AUCTIONS, INC., Appellee
On Appeal from the 160th Judicial District Court, Dallas County, Texas Trial Court Cause No. DC-14-11040.
Opinion delivered by Justice Francis, Justices Lang-Miers and Whitehill participating.

https://www.morelaw.com/verdicts/case.asp?n=05-14-01260-CV&s=TX&d=78322

Edited August 26, 2021 by MasterChief

[onlyweaknesskryptonite]

On 8/26/2021 at 5:00 PM, NewWorldOrder said:

Just don't' kidnap your boss at least!  

I may have to move in with Cousin Eddie ..

[valiantman]

On 8/26/2021 at 4:24 PM, Roger66 said:

... whether the truth is a hybrid patina of grays ...

 

On 8/26/2021 at 4:24 PM, Roger66 said:

“It is necessary ...”
― Thomas Paine, The Age of Reason

@Roger66 has provided both a known quote from Thomas Paine and another (original?) quote containing the phrase "hybrid patina of grays".

This board is not a worthy recipient for this level of discourse, but I applaud the effort. 

[Aman619]

If I understand the Hughes case, Hughes got underwater, owed both parties money, heritage took steps to make themselves whole for Hughes personal heritage debts before his poster partners could, they sued heritage, won some of their money but were rebuffed when they tried to sue for more after they already inspected what heritage was holding.  Right?    So heritage got caught being savvy and in a better position than the poster guys to get paid. To which I think they’d say guilty as charged.

[WolverineX]

On 8/26/2021 at 5:43 PM, NewWorldOrder said:

When I was younger I looked at Bud Fox as a good dude that just got in way over his head.  As an adult I think Bud Fox was a stupid kid who couldn't handle the amazing lifestyle Gekko gave him.

The older I get the more I like Gekko!

 

Gekko was a terrible human that went to jail and caused Buds father to have a heart attack after going after Bluestars employees pension.  Mess with my family,  you are going down.  Money doesn't mean Sh

[kav]

On 8/26/2021 at 3:47 PM, Wolverinex said:

Gekko was a terrible human that went to jail and caused Buds father to have a heart attack after going after Bluestars employees pension.  Mess with my family,  you are going down.  Money doesn't mean Sh

I hate gekkos

[NewWorldOrder]

On 8/26/2021 at 3:47 PM, Wolverinex said:

Gekko was a terrible human that went to jail and caused Buds father to have a heart attack after going after Bluestars employees pension.  Mess with my family,  you are going down.  Money doesn't mean Sh

Bud's father had a heart because he smoked and drank too much.  

No one else makes you have a heart attack besides you.  Your logic is very flawed.

Thats like saying I am obese as an adult and its someones else's fault.  Dunkin Donuts made me eat the whole box.  

Wake up will you pal!

Spoiler

Best line from the movie

Not sure how you can live without money, but okay.  

Edited August 26, 2021 by NewWorldOrder

[jcjames]

On 8/26/2021 at 3:55 PM, NewWorldOrder said:

Bud's father had a heart because he smoked and drank too much.  

No one else makes you have a heart attack besides you.  Your logic is very flawed.

Thats like saying I am obese as an adult and its someones else's fault.  Dunkin Donuts made me eat the whole box.  

Wake up will you pal!

  Reveal hidden contents

Best line from the movie

Not sure how you can live without money, but okay.  

 

[comicwiz]

On 8/25/2021 at 11:58 PM, jaybuck43 said:

I make no comments about any of the points raised (on either side) by the video. All I look to is the smell test.

1) Jim Halperin has a long history of committing fraud. FACT.  He self admits to committing mail fraud at the age of 13 to the tune of $100,000+ ($840,000 in todays money) by advertising a non existent sales company and charging people to join it.  To avoid prosecution, he agreed to return the funds.  In 1989 he settled with the FTC for over $1.2 million and a permeant injunction because his company NCI was overgrading coins, then passing them on to another one of his companies, CRCG, where they were made to look attractive.  Sale prices were significantly higher then the coins would have fetched had they been graded by a more reputable company.  In 1990 another one of his companies, SFMC, settled with the FTC for $1.4 million for selling overgraded coins.  

2) Before Halperin got involved in the video game industry in 2019, no single game had ever crossed the 6 figure barrier.  Heck, even many bulk sales were troll bid and never paid for.  I don't believe Thompson ever saw a penny of the $750,000 his gigantic collection "sold" for.  

3) After Halperin gets involved games start routinely breaking the 6 figures mark.  Shockingly, almost all of those major sales happen at one place, Heritage (owned by Jim Halperin) To my knowledge CC has not broken the 6 figure mark, but please correct me if I am wrong, I may have missed a sale.  The only other record sale is Rally's $2 million SMB BUT that's a private sale and I have my own suspicions about what happened there.

So you have a guy who's known to commit fraud, who's own industry looked down on him, who owns interest in grading companies and the auction companies that sell said graded assets, who then enters a new field that MAGICALLY explodes RIGHT at the time he enters it.  When I hear hoof beats, I think horses, not zebras.  There's sure a lot of stench here to not pass the smell test.

*Disclaimer.  I own a TON of video games.  Every system from NES all the way to PS5. All with their original box, inserts etc. Most games are still in their original cellophane, as dad would just slit the top to get the cartridge out.  Not a single one is graded.  I have no intention of selling.  They are in my vintage video game section of my house, connected to my 36" CRT tv. My comments are not made out of jealousy or thinking I am a "true" collector or begrudging the fact that I can't get a certain game because the market is obnoxiously priced.  I speak only because I feel there is something wildly inappropriate going on in this industry and I worry what the ramifications will be long term.

Too much fact pattern and common sense here, predictably the "video was made by a journo hack" exonerates them all from wrongdoing.

[Domo Arigato]

Found this among other genius level summaries in the comment section of a news article about the video.  Reminds me of some of the posts in here, if anyone would like to take credit for it.

 

"So a couple of really rich dudes buy an games appraisal website, and immediately shut it down. One of them starts his own appraisal website, and another starts a games auction website. They spend a couple years at flea markets and game conventions, buying games valued anywhere between a couple hundred and a couple thousand dollars. A third-party “games collector” swoops-in and buys those games at super-inflated prices... but it turns out the games collector is in on the scam; he’s buying the games with the first two dudes’ money. The two rich guys spend a couple of years buying and selling the same games between one another, gradually inflating those games’ values by over 1,000%.  How is this not fraud?"

 

I knew something was strange when I saw that limo pull up to the local flea market.  

Halperin.......YOU BASTURD ! ! !

 

Edited August 27, 2021 by Domo Arigato