Sounds like the typical corporate statement that’s just utter bullshit… I doubt anything will come out of this, they’re just playing damage control.
1 Like
Of course we should expect nothing less than some corporate bs statement but at least they have acknowledge that there are potentially hundreds of comprised cases (we know there are obviously much more than this from pure common sense) and that they’re going to work with past buyers of slabs from the perp who got victimized as CGC will compensate them fairly for their losses (whatever that means).
People were speculating on their forums that CGC would do nothing and try to sweep this under the rug in their own forums. This scandal seems much more severe than the ones in the past as CGC had to do something.
2 Likes
Well, hopefully this changes things for the better. We will see. I also hope the person committing fraud goes to jail for a very long time.
1 Like
I thought it was interesting they stated the number of books affected. A few hundred seems like a small number to me.
What were your expectations?
What type of statement a week or so into, keep in mind this is occurring between Christmas and new years, would satisfy you?
Has anyone watched the video on how easy it is to open a CGC slab with a basic prying tool and a heat gun?
Very concerning…and now everyone is educated on how to do it.
I may actually try this on a few books I was going to crack anyway for a press and regrade.
2 Likes
IDK… maybe instead of trying to say their process is great with improvements, they can at least admit their process failed them and they ■■■■■■ up… Just seems like they’re deflecting.
Honestly all this place would have to say is… “We Fscked Up and we’re going to try and fix it”. Then be done with it without all the other PR bullshit…
This video and this MJ scandal (probably tied together) make me realize all these years how stupid I was with investing in two/three inept grading companies that can’t hang a curtain rod. If either of these two companies were in a true business environment they’d been belly up a long time ago with their incompetence in so many areas. But everything pushed aside, forgotten, and replaced with “well they’re a necessary evil”. No - they’re incompetent that we have accepted.
I resisted submitting for years, hated both of them, thought the whole grading thing was a big scheme wrapped with a red bow; but I submitted anyway because that’s where the money has been despite a big something in me saying “don’t submit. don’t submit”. But I went against my gut and here we are.
Shows me to trust my gut and know a big effin pyramid scheme when I see it. I should have known better. I’ll now watch the value of my graded books go into the toilet and/or be questioned by every potential buyer til the end of my days.
With that Immaculate comics video - every single book is now suspect except for the cheapest of the cheap, because who really cares about messing with cheap books. Un-effin-believable
2 Likes
The simplest solution is the easiest Stamp the serial number on the plastic housing, the label, and the case. All three must match to be reholdered.
4 Likes
Good solution going forward.
That solution would work as well as others mentioned would work
Often times, the looking forward solution is not the difficult part; it’s dealing with existing inventory. In this case… thousands (maybe millions) of books with this current iteration design of slab.
Is it not the case that every single slab is suspect since anyone with simple tools and a freakin’ hair dryer can switch books?. That’s the difficult solution that I can’t see there ever actually being a true solution to. It’s the “look back” solution or lack thereof that is the looming financial disaster.
1 Like
Is there a link to all known affected Cert Number or simply the name of the seller?
If someone has this information, please do share. This year I been buy some major key. Hopefully its not on the list.
Check the CGC Forum there are a couple guys who have posted books and certs # they found and I am pretty sure they used 2 Ebay names since 2011.
Lots of noise in there maybe there is a search option.
Well the bigger news is now CGC has expanded to grading DVDs and BluRays woohoo
What will they grade next?..
Manga is on the horizon. But the kids and adults that read Manga vs Comics will they really shell out money to grade? No idea but we shall see eventually.
1 Like
So no CERT # has been published/confirmed by Officially CGC. Pretty much for me they still layed a 0 in regards for any type of resolution support.
Here is link to CGC official statement on the matter. There is a email at bottom you can reach out to if you feel you have a scammed book
All reseals of existing books will have to be re-certified In order to gain people’s trust they will need to.
1 Like
I know the ones I submitted are good. 
The simple answer Yes. The more complicated answer is “low valued” books (let’s say < $1000) and likely recently graded CBCS books are very low risk…unless more info comes out to the contrary.
I’m actually wondering if reholders now will be subject to being regraded (not just checking for inserts and counting pages) going forward as there’s a good chance more people are doing this, but just swapping out a book that’s a few decimal points lower and flying under the radar.
1 Like
They could do that, but I’m sure they had their lawyers/hired legal experts review what they were going to publicly say and any lawyer with at least 0.01% of a brain would have advised against admitting to any error at this time. I’m not a lawyer but I could only imagine if this went the way of a class action lawsuit (which it may still if enough big time investors are impacted) any such statement would implicate them and make it very hard to minimize the financial damage…it may even sink them…
This is why these companies also keep their procedures close to the chest and don’t reveal much details in how they accomplish the service you’re paying them for. Right now if they had in writing that they check every page during a reholdering they would be subject to committing fraud themselves.
The one thing we all likely can agree on is that the pressure needs to remain on CGC to see this through. No one is going to believe this is an isolated incident. So they better have a very robust “where else” plan put into place to cast a big enough net which encompasses a larger pool of slabs which “could” be suspect…request those slabs be “returned” for re-inspection…and eventually release some data that says “although we believe this to be an isolated incident, out an abundance of caution and as a means of validation we recalled X number of additional slabs, physically inspected the and found no additional evidence of tampering. “
That doesn’t mean no other tampering exists, but at least it means they likely bounded the problem as best they can in a reasonable time frame to restore some confidence back into their product and the risk is small. And yes, going forward their procedures have to include inspecting the internals of books as part of the reholder process.
If they rush this and close it out as an isolated incident…and the community finds another example of tampering and throws it back in their face…they’re done. Their credibility is finished.
2 Likes
Critical Question: Will this be the end of CGC? Anyone selling off their CGC slabs in anticipation?
This is an excellent, well-thought out business response.
I’m in big business as a manager and this is what I’d expect to be hearing in close door sessions when one of our products does not perform to specifications once in the customers’ hands.
In my line of business it’s not just about correcting the issue going forward. It’s about addressing existing product that is already in customers hands and your response that includes data driven investigation and usage of the words such as “isolated” or “minimum” is what big business does. I, personally, don’t believe in it as it is truly marketing talk, but it is the best that can be expected here. And for once it’d be nice to see them operate as a business instead of a Mickey Mouse Club