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Great idea for a scam

Started by That Ron Dude,

18 posts in this topic

That Ron Dude

That Ron Dude

Posted
Posted

I started entering this in the "Spider-man 300" thread but thought it might consistute a highjack. I think it is worth its own thread anyone.

 

My brother, who collect military stuff, told me a great scam that has been used in his collecting hobby. I wonder if it has ever been done in comics.

 

Take a rare but worthless comic that you have many copies of-- perhaps an oddball comic from the early '50's that can be picked up for 20 or 30 dollars. Put it up on ebay saying that it is recognized as the greatest work of the artist involved, has a remarkable cover, is scarce with only a few copies ever being CGC'd and any other hogwash you can come up with to crank up its supposed worth. Then get your pal down the street to buy it for $582. No money and no comic changes hands except for the fees to ebay

 

Repeat with another friend.

 

Repeat with yet another friend.

 

By this point the comic will seem to have some genuine collectable value. Put it up and let the suckers duke it out to own the valued copy. Maybe put up a higher grade one and watch the bidders go nuts.

 

I think it would probably work. Does anyone know of a case where it has worked?

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gifflefunk

gifflefunk

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That's how the CGCing of modern books craze got "bootstrapped". Early on a few dealers were buying CGCed books between each other on eBay to stir up interest in "high grade" books that are super common. Stupid things like Spawn #1s and *spoon* like that, eventually the marketplace decided that their must be value in 9.9/10.0 modern books.

 

Of course the market did eventually correct itself and prices for Spawn #1s started coming back down... but the damage had already been done to the few suckers that had fought it out for these "valuable" books (to the tune of $800+ a book!).

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ft88

ft88

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According to Mile-High Chuck this has been going on in the hobby for years and not just to make a 'hot' book, but to drive up price guide prices in general.

 

Maybe but this market is bigger even than chuck can affect. I don't even think what you are talking about is a scam, but it does seem like a colossal waste of time. There might be one, maybe two buyers who will speculate and try to flip but at most you'd get a yawn out of the whole thing.

 

Another point. For every "sucker" who bought a Spawn #1 CGC 10.0 there were 10 "astute" speculators who bought Wolverine LS CGC 9.8 a few years ago and can now double their money. Funny how when an item loses money those that bought in are suckers and when something goes up in value the buyers are smart.

 

If someone were to speculate simply because ebay prices were moving and there was some action going on, then he gets everything he deserves.

 

Ed

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Lazyboy

Lazyboy

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I think it would probably work. Does anyone know of a case where it has worked?

 

gossip.gif Incredible Hulk 181

 

I'm not saying there isn't legitimate demand (and quite a bit of it), but the price has definitely been manipulated to the artificially high levels it's at now.

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Stronguy

Stronguy

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I started entering this in the "Spider-man 300" thread but thought it might consistute a highjack. I think it is worth its own thread anyone.

 

My brother, who collect military stuff, told me a great scam that has been used in his collecting hobby. I wonder if it has ever been done in comics.

 

Take a rare but worthless comic that you have many copies of-- perhaps an oddball comic from the early '50's that can be picked up for 20 or 30 dollars. Put it up on ebay saying that it is recognized as the greatest work of the artist involved, has a remarkable cover, is scarce with only a few copies ever being CGC'd and any other hogwash you can come up with to crank up its supposed worth. Then get your pal down the street to buy it for $582. No money and no comic changes hands except for the fees to ebay

 

Repeat with another friend.

 

Repeat with yet another friend.

 

By this point the comic will seem to have some genuine collectable value. Put it up and let the suckers duke it out to own the valued copy. Maybe put up a higher grade one and watch the bidders go nuts.

 

I think it would probably work. Does anyone know of a case where it has worked?

 

I'm sure this has gone on on eBay before. It's been going on with Overstreet for decades. foreheadslap.gif

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Marty B

Marty B

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foreheadslap.giftonofbricks.gif
I agree foreheadslap.gif

foreheadslap.gifforeheadslap.gif

 

Anybody in favour of a strike ? confused-smiley-013.gif

 

A strike? Harsh dude, harsh.

 

How about using the thread as some others have an talk about books that do seem to have increased in value for no good reason (or for good reason).

 

The Spawn UPC is a perfect example. How about the GL #76 that everyone all of a sudden needs in high grade?

 

Good soup is made from water, then you add stuff, spices and what not, cook it ... all of a sudden it's really good. Add some spice to a watered down conversation and see what can happen.

 

Ubie X

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