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ASM #252 CGC 9.8 Record Sale - something fishy going on? - Holder Tampering Incident confirmed by CGC
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Started by spidermanbeyond,

9,030 posts in this topic

Steven Valdez

Steven Valdez

Posted
Posted
On 12/31/2023 at 4:20 AM, Point Five said:

Same. lol  @Steven Valdez Can you provide a link to the article? This is so ‘inside baseball’ so far, I’d love to see what a mainstream article would even look like.

 

It was a few days ago on my iPhone as I was waking up. I'll let you know if I can scroll back down to it.

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onlyweaknesskryptonite

onlyweaknesskryptonite

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On 12/30/2023 at 11:25 AM, THE_BEYONDER said:
On 12/30/2023 at 11:23 AM, Steven Valdez said:

It was a few days ago on my iPhone as I was waking up. I'll let you know if I can scroll back down to it.

:popcorn:

On 12/30/2023 at 11:17 AM, wiparker824 said:
On 12/30/2023 at 11:14 AM, Steven Valdez said:

And that's all the way here in Australia, just for context.

I’m just picturing a bunch of Australians waking up to a newsfeed on their phone saying WTF is a reholder? Who is CGC? And then proceeding to stomp out some deadly creature that wondered into their home.

it will probably take him a bit to find the article.  

He has to scroll past all the Dingo ate my baby stories. 

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Buzzetta

Buzzetta

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On 12/30/2023 at 12:23 PM, BigLeagueCHEW said:

CGC knows they will profit from this. There will be a mass reholder submission when it’s changed. Then :banana: 

Yeah, sure.  Collectors and dealers alike will send all of their slabs in to get the six reflective hologram sealed foil stickers to be placed around four edges that anyone with any combination of solvents sold at your local ACE Hardware will be able to remove and reapply within three months of experimentation.

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drotto

drotto

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I know it has been touched on here and elsewhere, would there be support for two levels of slabs?  People need to be honest, most of the floods of stabbed 9.8 modern or even recent spec books, are worth less then the stabbing and grading processes itself. If that is you thing, fine, but I think it has lead to millions of books encased that really did not need to be done. One the other hand grading, verifying, and protecting grails of high value definitely serves a purpose.

So for those wanting to grade and slab spec books, minor keys, moderns etc, there is a cheaper less secure slab option.

For those big books, and rare high value books, there is a more expensive, much more secure case, with multiple levels of security.  That would be reserved for book of at least $1000 in value at time of submission (just a start point). This would be it own thing, with dedicated staff and graders. The best analog I can think of is guitars where you have say regular USA Gibsons off the regular production line, then you have the costum shop within that, with its own dedicated, much more experienced work force. Yes it costs more.  Yes, it is only for certain people willing to pay. But, it isn't a higher level.

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onlyweaknesskryptonite

onlyweaknesskryptonite

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On 12/30/2023 at 11:30 AM, Steven Valdez said:

Nah, here it is:  https://apple.news/AnOa-FG5RSfC6iQjfs_FGhA

 

That's what passes for "mainstream news" over there?

airplane-sniffing.gif.932da43bdcc0b005397bc7d14bd826d3.gif.3721f52380fe36c8eb70236677be2e31.gif

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Steven Valdez

Steven Valdez

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Posted (edited)
On 12/31/2023 at 4:38 AM, THE_BEYONDER said:

Gotta love the video that accompanied it…

 

IMG_9629.jpeg

Poor old Rob will never live that down...

I thought this line was quite germane:

"While they are investigating the reholdering scam perpetrated by this one high roller, fans have started to question how many other people are out there pulling the same stunt, on a scale small enough that it doesn't provoke suspicion."

 

Edited by Steven Valdez
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EastEnd1

EastEnd1

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If Blackstone works like most multinationals do, and I fully expect that they would, CGC won't have very much excess cash to access on its own.  It's cash gets periodically swept up by Blackstone to redeploy wherever Blackstone sees fit in its overall business.  I'd imagine CGC will have to come up with an estimate, take a charge, and then either sop it away from incoming cash (if small) or secure funding from Blackstone (if large).  Blackstone would function as its "bank".  I don't believe Blackstone would let CGC go under, that just seems foolish financially.  But I could see them come to the conclusion to prop it up and divest it if the cost/benefit of owning it, based on their internal metrics, no longer makes sense.  Really depends how bad this gets financially (probably not too bad) and reputationally (could be bad).  There's also insurance to consider if CGC wants to make the claim.  

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onlyweaknesskryptonite

onlyweaknesskryptonite

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On 12/30/2023 at 11:42 AM, Steven Valdez said:

Apple News is American, so no doubt it ran there too... just so you know.

Other than saying that on the link, when I clicked on the link you shared it just took me to some comic website for the article. Didn't see it on an Apple News site. Besides it isn't like I would trust American news either.  Some people here think the Enquirer  is a "News Source" 

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Matt1982

Matt1982

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On 12/30/2023 at 11:23 AM, BigLeagueCHEW said:

CGC knows they will profit from this. There will be a mass reholder submission when it’s changed. Then :banana: 

Absolutely! Anyone see the 1997 movie on HBO called Breast Men? David Schwimmer plays the doc who invented the silicon breast implant. He makes a ton of money selling it, and then they learn that it sucks and is leaking silicon into women and making them sick. It ruins him, until he realizes he can market and sell the “upgraded replacements”. He tells women he’ll take out the bad ones, put in new bigger ones, and insurance will pay for it. He makes a mess-ton of money fixing the problem.

CGC will fix the case, use it going forward, and offer people “discounts” to confirm grades and reholder into the new case. Slab owners will do it because books in old slabs will be worth a lot less than books “confirmed” in new slabs.

If they're smart they’ll assure customers it won’t be a massive re-grade because people are so completely sick of sending in a 9.8 that comes back as a 9.6. They should confirm everything that hasn’t been tampered with - as evidenced by whether the actual grade for the book is in the neighborhood of what the “confirmer” thinks it should be. The point is just to find tampered books, not to re-grade and subject books to grader subjectivity.

 

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Steven Valdez

Steven Valdez

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On 12/31/2023 at 4:51 AM, Matt1982 said:

Absolutely! Anyone see the 1997 movie on HBO called Breast Men? David Schwimmer plays the doc who invented the silicon breast implant. He makes a ton of money selling it, and then they learn that it sucks and is leaking silicon into women and making them sick. It ruins him, until he realizes he can market and sell the “upgraded replacements”. He tells women he’ll take out the bad ones, put in new bigger ones, and insurance will pay for it. He makes a mess-ton of money fixing the problem

It's the same when tech guys screw-up. They get paid again to fix their own mistakes. What a racket.

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Heronext

Heronext

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On 12/30/2023 at 12:47 PM, onlyweaknesskryptonite said:

Other than saying that on the link, when I clicked on the link you shared it just took me to some comic website for the article. Didn't see it on an Apple News site. Besides it isn't like I would trust American news either.  Some people here think the Enquirer  is a "News Source" 

Apple News is just a news aggregator and shows you articles based on your interests.  Just Google "CGC scam" and the Comicbook.com article comes up.  I found it to be a pretty good summary.

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