Oh man… Dont tell me that. I just submitted 6 books (the most I have done) to CGC over at comic con. They ruled the con. CBCS only had 3 people for the show. Like whaaaat! Stupid move. And for that, CGC got my business this year. Man oh man. Hopefully I made a good choice lol. Cuz there is only 1 book of the 6 that I intend to sell. So lets hope this does not effect the value of that book.
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10 million for dissing a restoration company…in a public forum no less.
Didn’t realize comic book restoration (essentially ruining books) was a big money.
“Sir, can I pay you hundreds of dollars to make my comic book worth less?”
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Has to be more to the story. The community shits on cgc all the time, heck the worst critics are users on their own forum 
What’s likely is that cgc’s shoddy business practices were presented to the courts and when they reviewed the evidence they were disgusted with what they saw lol.
Matt was the head grader before he became president and he accused them of fraud. Matt as the head grader of cgc had the platform to cause irreparable damage to a restoration company’s reputation. Also in the suit, they claimed they were given low grades because they had a rift with cgc. It’s something the community has suspected but had no way to prove it, that cgc gives gift grades to some of their elite customers (Comiclink, Heritage etc), that they’re not inpartial to everyone.
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That is the big takeaway, that CGC directly effects the grades of the books
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I went to the CGC forums to see if they’re talking about it. Sure enough there’s a thread about it but the posts are being deleted by CGC.
I then went to check up on the CGC inner well warping issue thread and holy cow there’s a wildstorm brewing there, people are really upset and it appears CGC are deleting posts and trying to sweep this under the rug.
Holy crap, this was from a user who sent in an X-Men 1 that was super flat and the warping inner well caused a 3 giant creases to the book, this can’t be fixed. Click image to see the damage.
This from another user
Ok, this is enough for me to not send my books to CGC until they get this issue fixed. Those creases to the X-men 1 is gross!
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It just keeps getting better and better
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lol they can say anything and excuse it as its part of the process. Never using them. no credibility. the whole industry is rife w/ con artists.
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I’ve been preaching since I found CHU back in 2013 to just keep your books free and floppy… you’ll never have to worry about others handling your books and damaging them, assigning them crappy opinions, etc.
FREE AND FLOPPY!!!
And the best thing about keeping them free is, the older ones you can take out from time to time and smell them, brings back the fond childhood memories.
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One more fun little thing I want to point out. I just checked Bleedstool to see if they would cover this story that CGC just got sued and lost 10M. It’s amazing that they are always so quick to report and take credit for any little minor rumor or gossip on the most mundane comics news, decide to just ignore this entire CGC lawsuit altogether.
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Insane if true. That would mean CBCS has given up… or the demand for their services is so small that they may as well. And completely wild they just lay there like a dead fish while CGC has enormous failure after failure after failure.
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And before anyone jumps in saying… “but I get slabbed to preserve my books”… all these slab horror stories with damages, who knows the long term affect these might have on books. If they’re having issues now, imagine your book sitting in that capsule for decades… With their recent track record, I wouldn’t trust their entire process at this point in time. CGC never had credibility to me in the first place, not sure why so many are surprised about all this. I knew it would only get worse when they were bought out and now have to make shareholders happy.
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“CGC getting sued” thread just got deleted from the CGC board
Probably advice from their lawyers. Don’t want anyone commenting on the case, particularly CGC employees.
But isn’t the case over? They lost.
Is it? Seems like everyday there’s a new lawsuit with them… hehe
Could still be lawyers telling them to take down as there might be things they don’t want discussed on their public forum.
Yeah they lost and got slapped with $5 million in punitive damages on top of the $5 million they had to pay. The jury were most likely disgusted by what they heard from CGC 
Collectors need to realize that it is has become painfully obvious that the CGC of old is not the Same as the new CGC. The buyout did more than change ownership it also drastically changed the quality control for the worse. CGC by its own actions have showed me anyway, they do not deserve to be the industry leaders in grading. They just make too many bone head mistakes, and they seem to care significantly more about their public image than their customer needs and actual product.
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What’s funny is… if you fix the mistakes and prevent them from going forward, then you fix your public image.
When something happens, the best thing a company can do is just admit they fscked up, say they’re gonna address, fix, and move on. Instead they just try to sweep it under the rug without doing anything but damage cleanup patrol… and deflection.
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I’m pretty much ready to not renew my CGC membership when it expires at the end of August. Just so many messes.
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Good timing, you just need to wait a few more months and PSA will be accepting submissions. I’m going to send a few books in (small keys) to test the waters and see how the market reacts. I think a lot of people are ready to give up on CGC but are just waiting to see if PSA graded books will hold their value comparatively to CGC.
The inner well damaging the books from CGC is a deal breaker for me. I can’t imagine sending in a huge key only to have CGC holders damage the books and won’t take responsibility for it. I would be devastated if the above example of the X-men 1 damage happened to me. Don’t know how the person could stay so calm but I guess he has no other option. Even their response to the person who sent in 5 slabs to get reholdered rubbed me the wrong way. If one of your customers felt so strongly that the encapsulation is badly damaging their books, why not just re-slab it for them? By not taking responsibility it will just leave a real bad taste in their mouths and who knows how much business you have just lost from that person or anyone else who’s watching the situation (like me).
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