I think it’s crazy that only about 80 books of the 350 have been sent back to CGC. These are high value books, it’s a big purchase for the most part, and would think with a big purchase comes market research and staying in tune with the hobby and the news. Find it hard to believe those people haven’t seen what’s going on. CGC should institute a deadline as to when they will stop reimbursing for these compromised books, to force people to make a decision and begin to send in. Need these books cleaned out of the hobby.
I was having this conversation with someone on IG. I bet most comic collectors aren’t even aware of the scam. We are on IG and TH-cam so we see all this stuff. But the majority of collectors aren’t. So it’s very likely a big percentage of buyers out there don’t even know about the reholder scam.
Agree, I find it hard to believe that if your a serious collector (spending over $1000 on books for your collection) that you could be "unaware" of whats going on 🤷♂. From what i would guess however is that these book holders are scared (and rightly so) that they will not have things "made whole" /the legal term that is constantly used in courts. IE: 1) Book returned with a lower grade/devaluing it 2) Book not returned,with a insufficient refund etc. 3) Sit in limbo for ages, with CGC keeping the book with no idea of whats to happen with it. Unfortunately, most people simply are just going to try and ignore it and just move on, hopeing things down the road will just "blow over" to try and just sell them later, not a good idea in my opinion, but what i would guess is going on. Thanks for the vids, great content. -Cheers
@@AutomaticComics Sence you have many connections in the industry, and make a living in that industry , I would tend to believe what you say concerning what you have heard that many are "uninformed". Sad but could be true, well on the bright side, @ Automaticcomics you def do a good job of trying to get important news out there, whether some choose to ignore it is a whole other subject. Hmm, hadent watched the whole video before i made the first comment. Ok def sheds more light on things, great info. -Cheers
We need CGC itself "cleaned out of the hobby." Clowns Grading Comics. WTF, reholdering Hulk 181 without taking 10 seconds to check for the Marvel Value Stamp. Total incompetence.
CGC should pay the victims of the scam the amount they paid for their compromised books. I know it may be hard to prove unless they bought the book from an auction site or had receipts. Otherwise, the victims would still stand to lose a good amount of money in this down market. Also, sellers often price their books above FMV on sites such as eBay, so even if the victims received today's FMV for the books, they'd still lose.
I feel the offer to pay current FMV is a very fair one. CGC is trying to make those who were defrauded whole, not reimburse them their original investment. Giving enough to purchase the same book in the same grade is doing just that, giving them the means to be made whole.
It shouldn't be current value, it should be the value when the books were submitted that CGC should be paying the victims back cause comic books value in general is not as high now than months ago. If there is no guarantee on the safety of the books when they are mailed to CGC, then on-sight grading will be the best bet on not having the chance of the books being swapped.
Problem is, how would you know if a book has been tampered with or not? CGC has been found to not be doing their due diligence in checking for missing coupons or pages, so it really is a crapshoot as to what you'll be getting.
I know someone who had a shop and died the week this news broke. He has several thousand slabs. And may have some. But his family is sorting out who and what all his store and pc collection to do with.
With that amount of books I’d probably just work out a deal with heritage to get a better percentage on the fees and just send them there to auction off.
Ryan, CGC grades open RPG items, not just sealed. Been grading them for a few years now. I mentioned that the press release should have said this but it was excluded. We'll be doing a promotional video next week where I will say this. Not sure when the video will be released, but my guess is probably by the end of the month.
I dropped books off at C2E2 and CGC seemed a bit unorganized. The employees were streched for the amount of traffic they were getting, but they were helpful.
I was unaware of the issue until I sent comic link about 9 comics to sell for me at the comic con in Orlando this last Feb about a week later I received a email from them stating that my hulk 181 8.0 needed to be sent to cgc for review I’m a active member with cgc I have received zero emails from cgc explaining what was going on so I feel cgc should be doing more on their part to let people know what’s going on. I bought that book off of eBay I contacted eBay to get information from the seller who’s account was closed eBay was clueless to was is going on they said I was the first person to contact them about this issue I think they’re trying to do their best to not leak out what’s going on personally Cgc’s Reputation is on the line and I think after it’s all said and done they won’t be the held as the goto grading company to get maximum money for your high end comics like they’ve been in the past
CGC needs to bankrupt by us not Using them anymore! Stop using cgc. Dude they switch books you send in!!! 1000s of books im convinced have be switched!
No idea, you should be able to see though the sold listings on eBay or the link on gocollect. They probably didn’t know either. I wouldn’t jump to the conclusion that they’re passing it off. A lot of people aren’t aware of the whole scam thing. Reality is if they knew, they could just send it to CGC for a refund and not have to even deal with selling it or fees.
@AutomaticComics mean like personal names addresses other alias... for public so we know to stay clear of them.. but guess we have to wait till all is over... also prison time but that would only happen if doj gets involved
I dont know about this one. If I bought a book for $1200 and they offered me $500 because of the reholder scam. Then I don't think its fair. The book was sent to them, they failed in their due diligence and should compensate the buyer with the purchase price.
I think he’s playing devils advocate. It doesn’t say he has a book, just if. I just don’t see it as cgcs responsibility to pay people for their loss in value. It should be to replace the book. But like I said in the video, that’s my take and I’m sure others will disagree.
@@AutomaticComics I don't know man. If the company is based on certifying a collectible especially if they handled it, then they should be responsible. At what point does the "certified" mean certify? Itbwould be a totally different scenerio if the book was never touched by CGC by since it has, and there has been examples of reholders which the book went down due to whatever reason is one of my arguements. If they blanketed a reholder without proper inspection then CGC should be held liable for any losses.
@@Kingdom_Comics what if the book went down in price since you bought it? Should they still pay you what you paid? I just think covering replacement costs book for the book makes everyone whole and is the easiest to apply for most cases. Like I said in the video, there will likely be different situations for more rare books (one that I’ve now heard about since this video posted). But most cases should be addressed with replacement cost. At least in my opinion. I’ve bought books in the boom that I’ve lost money on, that’s just part of the reality of fluctuating prices. I don’t expect anyone to cover my losses and I don’t think this is any different.
Guessing you don’t buy or sell expensive comics. There reaches a point where you want that validation. And even with the small percentage of scam books out there, having it graded is far far safer than trying to buy raw.
People in the comments gave CGC a hard time for that video, but it's good. The collector needs to understand their process, and the video does a good job showing the grading area and putting the human perspective behind the imperfect process.
What happened to the crooks that caused all this?
350 high value books is a lot of money 😳
I think it’s crazy that only about 80 books of the 350 have been sent back to CGC. These are high value books, it’s a big purchase for the most part, and would think with a big purchase comes market research and staying in tune with the hobby and the news. Find it hard to believe those people haven’t seen what’s going on. CGC should institute a deadline as to when they will stop reimbursing for these compromised books, to force people to make a decision and begin to send in. Need these books cleaned out of the hobby.
I was having this conversation with someone on IG. I bet most comic collectors aren’t even aware of the scam. We are on IG and TH-cam so we see all this stuff. But the majority of collectors aren’t. So it’s very likely a big percentage of buyers out there don’t even know about the reholder scam.
Agree, I find it hard to believe that if your a serious collector (spending over $1000 on books for your collection) that you could be "unaware" of whats going on 🤷♂. From what i would guess however is that these book holders are scared (and rightly so) that they will not have things "made whole" /the legal term that is constantly used in courts. IE: 1) Book returned with a lower grade/devaluing it 2) Book not returned,with a insufficient refund etc. 3) Sit in limbo for ages, with CGC keeping the book with no idea of whats to happen with it. Unfortunately, most people simply are just going to try and ignore it and just move on, hopeing things down the road will just "blow over" to try and just sell them later, not a good idea in my opinion, but what i would guess is going on. Thanks for the vids, great content. -Cheers
@@AutomaticComics Sence you have many connections in the industry, and make a living in that industry , I would tend to believe what you say concerning what you have heard that many are "uninformed". Sad but could be true, well on the bright side, @ Automaticcomics you def do a good job of trying to get important news out there, whether some choose to ignore it is a whole other subject. Hmm, hadent watched the whole video before i made the first comment. Ok def sheds more light on things, great info. -Cheers
We need CGC itself "cleaned out of the hobby." Clowns Grading Comics. WTF, reholdering Hulk 181 without taking 10 seconds to check for the Marvel Value Stamp. Total incompetence.
Probably need to add a zero to that 350 number. CashGrabComics is to sketch, not an opinion, either
CGC should pay the victims of the scam the amount they paid for their compromised books. I know it may be hard to prove unless they bought the book from an auction site or had receipts. Otherwise, the victims would still stand to lose a good amount of money in this down market. Also, sellers often price their books above FMV on sites such as eBay, so even if the victims received today's FMV for the books, they'd still lose.
I feel the offer to pay current FMV is a very fair one. CGC is trying to make those who were defrauded whole, not reimburse them their original investment. Giving enough to purchase the same book in the same grade is doing just that, giving them the means to be made whole.
I don’t know if you have the Star Wars price variant but news as of today is mark hamill is signing again
It shouldn't be current value, it should be the value when the books were submitted that CGC should be paying the victims back cause comic books value in general is not as high now than months ago. If there is no guarantee on the safety of the books when they are mailed to CGC, then on-sight grading will be the best bet on not having the chance of the books being swapped.
Problem is, how would you know if a book has been tampered with or not? CGC has been found to not be doing their due diligence in checking for missing coupons or pages, so it really is a crapshoot as to what you'll be getting.
I know someone who had a shop and died the week this news broke. He has several thousand slabs. And may have some. But his family is sorting out who and what all his store and pc collection to do with.
With that amount of books I’d probably just work out a deal with heritage to get a better percentage on the fees and just send them there to auction off.
Ryan, CGC grades open RPG items, not just sealed. Been grading them for a few years now. I mentioned that the press release should have said this but it was excluded. We'll be doing a promotional video next week where I will say this. Not sure when the video will be released, but my guess is probably by the end of the month.
Thanks for the update 👍
Cgc always has a situation 😂
Great update but id really like to hear specifics on numbers.
I dropped books off at C2E2 and CGC seemed a bit unorganized. The employees were streched for the amount of traffic they were getting, but they were helpful.
I was unaware of the issue until I sent comic link about 9 comics to sell for me at the comic con in Orlando this last Feb about a week later I received a email from them stating that my hulk 181 8.0 needed to be sent to cgc for review I’m a active member with cgc I have received zero emails from cgc explaining what was going on so I feel cgc should be doing more on their part to let people know what’s going on. I bought that book off of eBay I contacted eBay to get information from the seller who’s account was closed eBay was clueless to was is going on they said I was the first person to contact them about this issue I think they’re trying to do their best to not leak out what’s going on personally Cgc’s Reputation is on the line and I think after it’s all said and done they won’t be the held as the goto grading company to get maximum money for your high end comics like they’ve been in the past
CGC needs to bankrupt by us not Using them anymore! Stop using cgc. Dude they switch books you send in!!! 1000s of books im convinced have be switched!
I tried to make an offer but the family is fighting with each other on who gets what.
That’s why you should probably just sell everything. Then there’s no fighting.
8:00 who was the eBay seller passing this off as real still?
No idea, you should be able to see though the sold listings on eBay or the link on gocollect.
They probably didn’t know either. I wouldn’t jump to the conclusion that they’re passing it off. A lot of people aren’t aware of the whole scam thing. Reality is if they knew, they could just send it to CGC for a refund and not have to even deal with selling it or fees.
Id rather see the people that did this identified and send to prison and sued so it may deter others from doing this again
They have been identified and they are being sued. That’s what’s going on in the lawsuits.
@AutomaticComics mean like personal names addresses other alias... for public so we know to stay clear of them.. but guess we have to wait till all is over... also prison time but that would only happen if doj gets involved
I dont know about this one. If I bought a book for $1200 and they offered me $500 because of the reholder scam. Then I don't think its fair. The book was sent to them, they failed in their due diligence and should compensate the buyer with the purchase price.
So what is the final outcome? Did u get the book back?
I think he’s playing devils advocate. It doesn’t say he has a book, just if.
I just don’t see it as cgcs responsibility to pay people for their loss in value. It should be to replace the book. But like I said in the video, that’s my take and I’m sure others will disagree.
@@mightycomicsandcollectibles I don't have a book but if I did, and the example above happened. Ueah I will be irritated.
@@AutomaticComics I don't know man. If the company is based on certifying a collectible especially if they handled it, then they should be responsible. At what point does the "certified" mean certify? Itbwould be a totally different scenerio if the book was never touched by CGC by since it has, and there has been examples of reholders which the book went down due to whatever reason is one of my arguements. If they blanketed a reholder without proper inspection then CGC should be held liable for any losses.
@@Kingdom_Comics what if the book went down in price since you bought it? Should they still pay you what you paid? I just think covering replacement costs book for the book makes everyone whole and is the easiest to apply for most cases.
Like I said in the video, there will likely be different situations for more rare books (one that I’ve now heard about since this video posted). But most cases should be addressed with replacement cost. At least in my opinion.
I’ve bought books in the boom that I’ve lost money on, that’s just part of the reality of fluctuating prices. I don’t expect anyone to cover my losses and I don’t think this is any different.
Excellent update.
good for them though.
Dont buy graded books. Problem solved.
Guessing you don’t buy or sell expensive comics. There reaches a point where you want that validation. And even with the small percentage of scam books out there, having it graded is far far safer than trying to buy raw.
People in the comments gave CGC a hard time for that video, but it's good. The collector needs to understand their process, and the video does a good job showing the grading area and putting the human perspective behind the imperfect process.
4:40
Fair market value?
If fair market value was a cgc grade scale?
What would that grade be? Or purple label er I mean never mind lol.
Thankyou