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-   -   PWCC Statement on Recent Card Trimming Concerns (http://www.net54baseball.com/showthread.php?t=269710)

swarmee 06-08-2019 06:50 AM

UFFDAH posted about it on the PSA message board at the time; I linked it on Page 106 of the Mantle thread, and they said it was just featured in his collection article in the SMR.

ullmandds 06-08-2019 06:51 AM

Quote:

Originally Posted by Republicaninmass (Post 1886605)
"1952 Bowman Stan Musial #196 PSA 9 to 10: Value gain of $25,300.03"

Ouch, seem to remember someone posting about buying this card.

Starting to wonder wherever brent described a card ad having “impossible” corners or “ impossible “ centering...maybe this was a hint like his stupid stickers a card had been tampered with??

Republicaninmass 06-08-2019 06:53 AM

The freaking thing was a PSA 9 HE SOLD less than 7 months earlier if I'm reading correctly. Now try to tell me he didnt know it was the same card. Wow

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Peter_Spaeth 06-08-2019 06:59 AM

Quote:

Originally Posted by swarmee (Post 1886606)
UFFDAH posted about it on the PSA message board at the time; I linked it on Page 106 of the Mantle thread, and they said it was just featured in his collection article in the SMR.

He posted here too.

http://www.net54baseball.com/showpos...6&postcount=70

And he had this to say about it.

Peter - sellers like Brent, Steve Hart and some others are straight shooters. They build successful businesses because they are trustworthy. No different than my company taking care of our customers/consumers because we stand behind our product, you have to for repeat long term business. Brent does not hesitate to tell me to pass on one of his auction cards if he feels I should be patient and wait for a little stronger example knowing my goals and tastes. Sometimes my itchy trigger does not want to listen to him but I almost always do.

MULLINS5 06-08-2019 06:59 AM

The Musial is worthy of it's own thread

swarmee 06-08-2019 07:06 AM

I bumped the old one.

MULLINS5 06-08-2019 07:20 AM

Quote:

Originally Posted by swarmee (Post 1886614)
I bumped the old one.

Wonder who will bump the PSA forum one, lol.

swarmee 06-08-2019 07:23 AM

Well, they bumped the 15-year old Moser thread on the Set Registry board and it's still there, but that board gets no traffic.

And PSA knows that deleting the old threads would be a negative in the case of a real investigation. I can see them locking them, but not deleting them. I'm sure someone has already screen-captured or archived them.

In fact, maybe the owner will. He just posted on the Blowout board that he is aware and returning the card.

jason.1969 06-08-2019 07:26 AM

Beyond alterations, and yes I'm guessing this Ruth has seen some, I am not a fan of descriptions that make unsubstantiated and likely false claims as if they were fact.

Sorry but if you're gonna tell me Ruth 53 is EASILY the most rare of the Goudey Ruth cards I will need evidence. (Asked PWCC but recd no response.)

I would be happy to bet a lot that red 149 is more rare, though not by enough to ever use the word "easily."

https://uploads.tapatalk-cdn.com/201...ebe177e7a7.jpghttps://uploads.tapatalk-cdn.com/201...0c02af75b9.jpg

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Bram99 06-08-2019 07:50 AM

How many buyers
 
Quote:

Originally Posted by swarmee (Post 1885166)
Solvency may be one of them. A consignment business can't last long if they're taking returns but can't get reimbursed by the submitter.

How many buyers will begin to pay PWCC in some form of reverse C.O.D.? If they turn out to be insolvent and have to shut their doors, the last payors who pay for their auctions might not be able to get their cards I would imagine. Does anyone know if the paypal or credit card refund measures would cover a buyer in this scenario?

earlywynnfan 06-08-2019 08:53 AM

Quote:

Originally Posted by Bored5000 (Post 1886543)
Here is the response from PWCC that I received about a Moser card I purchased that was probably cleaned but not altered:

"Thank you or reaching out to us about this card. At this time we are working to address those cards which have been trimmed, recolored, have corners built up, etc. The card you purchased is not obviously altered and we don’t have enough evidence to determine yet that it is. Please be patient while we work through the clearly altered cards; if there are any issues with any of your past purchases we promise we will get to you soon. Thank you for your assistance on this.


Thank you!

Betsy Huigens
PWCC Marketplace"

Doesn't the phrase "clearly altered cards" jump out at anyone else? That they sold some that were obvious, along with some that weren't? That sounds like the type of thing that would get hammered by the lawyers on Boston Legal.

swarmee 06-08-2019 08:57 AM

Quote:

Originally Posted by earlywynnfan (Post 1886671)
Doesn't the phrase "clearly altered cards" jump out at anyone else? That they sold some that were obvious, along with some that weren't?

Well, now they have the hindsight of before and after pictures despite not calling that "evidence" in the past.

calvindog 06-08-2019 09:24 AM

Quote:

Originally Posted by earlywynnfan (Post 1886671)
Doesn't the phrase "clearly altered cards" jump out at anyone else? That they sold some that were obvious, along with some that weren't? That sounds like the type of thing that would get hammered by the lawyers on Boston Legal.

Boston lawyers are notoriously sharp, true.

Peter_Spaeth 06-08-2019 09:40 AM

Quote:

Originally Posted by calvindog (Post 1886682)
Boston lawyers are notoriously sharp, true.

But not well reasoned.

Paul S 06-08-2019 09:58 AM

Quote:

Originally Posted by Bram99 (Post 1886639)
How many buyers will begin to pay PWCC in some form of reverse C.O.D.? If they turn out to be insolvent and have to shut their doors, the last payors who pay for their auctions might not be able to get their cards I would imagine. Does anyone know if the paypal or credit card refund measures would cover a buyer in this scenario?

...and all the cards in The Vault are confiscated as evidence during the ensuing criminal proceedings.

Fuddjcal 06-08-2019 11:57 AM

Quote:

Originally Posted by BengoughingForAwhile (Post 1886601)
Is the near future here yet?
How long does it take to print a list of cards connected to Gary Moser?

probably at least a month. Imagine 1000 cards 4 times a year for 15 years... That's 1 guy. PWCC is VERY CROOKED. Someone will wipe the glossy white smiles off the faces of those 2 imbeciles

Fuddjcal 06-08-2019 12:02 PM

Quote:

Originally Posted by jason.1969 (Post 1886622)
Beyond alterations, and yes I'm guessing this Ruth has seen some, I am not a fan of descriptions that make unsubstantiated and likely false claims as if they were fact.

Sorry but if you're gonna tell me Ruth 53 is EASILY the most rare of the Goudey Ruth cards I will need evidence. (Asked PWCC but recd no response.)

I would be happy to bet a lot that red 149 is more rare, though not by enough to ever use the word "easily."

https://uploads.tapatalk-cdn.com/201...ebe177e7a7.jpghttps://uploads.tapatalk-cdn.com/201...0c02af75b9.jpg

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Very nice Fake Ruth... That's what it should say in the description.

steve B 06-08-2019 12:26 PM

Quote:

Originally Posted by Fuddjcal (Post 1886756)
Very nice Fake Ruth... That's what it should say in the description.

What makes you think it's fake?

it is marginally tougher than the 149, but only by about 30 cards out of all the ones graded.

53 779 95+ 62Q 936
144 1064 144+ 119Q 1327
149 802 89+ 70Q 961
181 885 89+ 99Q 1073

Oh, and all the 35's together don't even total as many.

Fuddjcal 06-08-2019 02:30 PM

https://www.blowoutforums.com/showpo...postcount=2694

For all you T206 American Beauty Hughie Jennings Fans...PSA 4 to PSA 6.5

Should be called "Two Hands Soaking" - Nothing like chemical treatment, coloring and a trim . Just like a haircut.

Somebody certainly TOOK a haircut on this one. You know who didn't?

BRENT MASTRO, that's who. Nice work snake oil boy.

swarmee 06-08-2019 02:32 PM

Quote:

Originally Posted by Fuddjcal (Post 1886821)
https://www.blowoutforums.com/showpo...postcount=2694

For all you T206 American Beauty Hughie Jennings Fans...PSA 4 to PSA 6.5

Top of the pop report; also removed a crease based on the auction description of the PSA 4.

midwaylandscaping 06-08-2019 04:51 PM

Quote:

Originally Posted by MULLINS5 (Post 1886618)
Wonder who will bump the PSA forum one, lol.


52 Musial thread? You're welcome. :D:):D

CMIZ5290 06-08-2019 05:14 PM

Quote:

Originally Posted by steve B (Post 1886762)
What makes you think it's fake?

it is marginally tougher than the 149, but only by about 30 cards out of all the ones graded.

53 779 95+ 62Q 936
144 1064 144+ 119Q 1327
149 802 89+ 70Q 961
181 885 89+ 99Q 1073

Oh, and all the 35's together don't even total as many.

I agree Steve, how is this card fake? I sure hate to stick up for Brent having said that....

Fuddjcal 06-08-2019 05:30 PM

Quote:

Originally Posted by CMIZ5290 (Post 1886881)
I agree Steve, how is this card fake? I sure hate to stick up for Brent having said that....

Just my personal opinion that if 1 PWCC card is TAINTED, they are ALL tainted. Especially the nice clean brightly chemically dipped and pressed Ruth like that one.

rajah424 06-08-2019 05:40 PM

Pwcc
 
Anyone tried to register a Moser Altered Cards registry set with PSA yet?

bnorth 06-08-2019 05:42 PM

2 Attachment(s)
Here is my version of the F*ck Faces baseball card.:)

Unfortunately I got a bad ink cartridge and the colors are off.:(

Second pic is what it should look like.

xplainer 06-08-2019 05:50 PM

:D
Great job there.

steve B 06-08-2019 07:04 PM

Quote:

Originally Posted by Fuddjcal (Post 1886886)
Just my personal opinion that if 1 PWCC card is TAINTED, they are ALL tainted. Especially the nice clean brightly chemically dipped and pressed Ruth like that one.

Altered isn't fake...

And most of my few 33s have whiter borders, and I'm pretty much 100% sure they aren't bleached.

Not saying something wasn't done to that one, just that I believe it's real and whatever alterations there may be are hard to find in that image

bnorth 06-08-2019 07:39 PM

Does anybody think Brent will be a gentleman like Bill Mastro and send out gift baskets to those who supported him?

Fuddjcal 06-08-2019 08:44 PM

Quote:

Originally Posted by rajah424 (Post 1886889)
Anyone tried to register a Moser Altered Cards registry set with PSA yet?

No, but I was trying to get Moseralteredcards.com but it was taken already....Brent Mastro was the registered owner.

MULLINS5 06-08-2019 09:01 PM

Quote:

Originally Posted by Fuddjcal (Post 1886933)
No, but I was trying to get Moseralteredcards.com but it was taken already....Brent Mastro was the registered owner.

That domain is available. What domain did Brent buy?

Peter_Spaeth 06-08-2019 09:19 PM

Quote:

Originally Posted by Fuddjcal (Post 1886933)
No, but I was trying to get Moseralteredcards.com but it was taken already....Brent Mastro was the registered owner.

brentmastro.com seems like the domain for you

ruth-gehrig 06-08-2019 09:31 PM

f*ckfacesofbaseball.com is available as well:D

Mark17 06-08-2019 10:20 PM

Quote:

Originally Posted by bnorth (Post 1886892)
Here is my version of the F*ck Faces baseball card.:)

Unfortunately I got a bad ink cartridge and the colors are off.:(

Second pic is what it should look like.

You should send this in to be graded.

Bigdaddy 06-09-2019 09:38 PM

So with all this 'alteration' and/or 'conservation' going on, how long will it be before all baseball cards are transformed into PSA 10s?

Republicaninmass 06-10-2019 04:40 AM

If it was up to Moser and PWCC, it would be imminent.

Peter_Spaeth 06-10-2019 04:43 AM

26K gain on a Cousy RC.
https://www.blowoutforums.com/showpo...postcount=2789

iwantitiwinit 06-10-2019 04:51 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1887273)

Per the link......Note in the PWCC PSA-8.5 listing description: "The offered quality simply doesn't exist in the hobby and we'd be rather surprised if any of the 4 PSA 9s in the world hold eye appeal equal to this 8.5. A dead centered and perfectly printed specimen which sets the bar for what's possible from the issue."

Well he's right there. It didn't exist in the hobby it had to be fabricated. It sets the bar for what's possible from a person practiced in alteration. No bueno.

Peter_Spaeth 06-10-2019 06:13 AM

https://www.blowoutforums.com/showpo...postcount=2797

49B Jackie 3 to 5.
Midgrade isn't safe either, y'all.

iwantitiwinit 06-10-2019 06:45 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1887282)
https://www.blowoutforums.com/showpo...postcount=2797

49B Jackie 3 to 5.
Midgrade isn't safe either, y'all.

This one took over a year and a half to resell. Why so long? Possibly multiple submissions to PSA to get an unqualified grade? Just wondering does PSA monitor whether the same card has been submitted multiple times from the same individual? Wouldn't that be the simplest form of tracking and control.

Peter_Spaeth 06-10-2019 08:04 AM

Quote:

Originally Posted by iwantitiwinit (Post 1887293)
This one took over a year and a half to resell. Why so long? Possibly multiple submissions to PSA to get an unqualified grade? Just wondering does PSA monitor whether the same card has been submitted multiple times from the same individual? Wouldn't that be the simplest form of tracking and control.

There have been countless crackouts and bumps, I doubt the graders realize a card has been through there before unless maybe it's a rarity. I know cards that have been in there 3,4,5 times before getting their desired grade.

topcat61 06-10-2019 09:08 AM

I'm not sure this article on Collector's Universe has been posted yet, but it's pretty interesting.

https://seekingalpha.com/article/426...aiting-exposed

Peter_Spaeth 06-10-2019 09:15 AM

Quote:

Originally Posted by topcat61 (Post 1887320)
I'm not sure this article on Collector's Universe has been posted yet, but it's pretty interesting.

https://seekingalpha.com/article/426...aiting-exposed

yes it has its own thread

Dpeck100 06-10-2019 05:47 PM

My buddy Rob just forwarded me an email he got from PWCC in regards to a card he purchased that was outed as a Gary Moser example that was trimmed.

They want him to send it back and they will "work" to get his refund and "work" to get the the card taken out of circulation by ultimately causing the card to be forwarded to law enforcement.

I checked with him if I could share and I thought readers would be interested in the info.

Peter_Spaeth 06-10-2019 06:43 PM

Quote:

Originally Posted by Dpeck100 (Post 1887564)
My buddy Rob just forwarded me an email he got from PWCC in regards to a card he purchased that was outed as a Gary Moser example that was trimmed.

They want him to send it back and they will "work" to get his refund and "work" to get the the card taken out of circulation by ultimately causing the card to be forwarded to law enforcement.

I checked with him if I could share and I thought readers would be interested in the info.

Kick it to the FBI like they did in WIWAG? Hope I am reading that wrong.
Oh I did read it wrong, this is PWCC not PSA sorry.

MULLINS5 06-10-2019 06:57 PM

Quote:

Originally Posted by Dpeck100 (Post 1887564)
My buddy Rob just forwarded me an email he got from PWCC in regards to a card he purchased that was outed as a Gary Moser example that was trimmed.

They want him to send it back and they will "work" to get his refund and "work" to get the the card taken out of circulation by ultimately causing the card to be forwarded to law enforcement.

I checked with him if I could share and I thought readers would be interested in the info.

Have to get their hands on the evidence.

ZiggerZagger 06-10-2019 07:05 PM

Quote:

Originally Posted by Dpeck100 (Post 1887564)
My buddy Rob just forwarded me an email he got from PWCC in regards to a card he purchased that was outed as a Gary Moser example that was trimmed.

They want him to send it back and they will "work" to get his refund and "work" to get the the card taken out of circulation by ultimately causing the card to be forwarded to law enforcement.

I checked with him if I could share and I thought readers would be interested in the info.


Just got my email as well from an item purchased November 2018. Not going into any more detail, but the gist as stated above is right -- send the card back and we'll "work to refund your purchase price", and take the card out of circulation by forwarding it to law enforcement.

Fortunately it's just a single card for me. So far...

I'd imagine these templated emails will be arriving to folks in the hobby en masse in the coming days.

.

Peter_Spaeth 06-10-2019 07:33 PM

48 Leaf Jackie 32K gain.

https://www.blowoutforums.com/showpo...postcount=2827

Republicaninmass 06-10-2019 07:39 PM

Quote:

Originally Posted by Peter_Spaeth (Post 1887617)

Wonder if Brent advised the buyer what to bid in that one. Holy schnikes

Peter_Spaeth 06-10-2019 07:43 PM

Quote:

Originally Posted by Republicaninmass (Post 1887619)
Wonder if Brent advised the buyer what to bid in that one. Holy schnikes

Looks way too white for a Leaf.

Aquarian Sports Cards 06-10-2019 08:06 PM

Man that whole concept just smells funny. Please send us the evidence so that we can TRY and pay you back and even though we have been completely untrustworthy to date, trust us to give the card to the authorities.

Or maybe give us the card back and we'll try and resell it so we can give you your money back without costing us anything???

RollieFingers 06-10-2019 08:12 PM

2nd qtr. 54-48 warriors....

:)

perezfan 06-10-2019 11:20 PM

Quote:

Originally Posted by Aquarian Sports Cards (Post 1887624)
Man that whole concept just smells funny. Please send us the evidence so that we can TRY and pay you back and even though we have been completely untrustworthy to date, trust us to give the card to the authorities.

Or maybe give us the card back and we'll try and resell it so we can give you your money back without costing us anything???

If not too much time has passed, I would definitely pursue your refunds via either eBay or PayPal (NOT PWCC). Both eBay and PayPal will refund you in full, and then they will collect the funds from PWCC. That way, you won't have to play the waiting game indefinitely, and won't have to worry about actually getting your refund. Ebay will take the headache out of it, and they'll collect the funds from PWCC after the fact.

As long as it's within the accepted time frame, why would anyone go the more difficult and problematic route? With all of its flaws, at least eBay has excellent Buyer Protection Policies.

Bored5000 06-11-2019 02:19 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1887617)

That was originally a $9,000 card that Moser cracked out and doctored. So much for the claim on here that Moser would not have taken a chance by "conserving" the $3,000 Musial card. The risk/reward trade off is rather high when a one grade bump is worth $32K.

Bored5000 06-11-2019 02:23 AM

Quote:

Originally Posted by perezfan (Post 1887649)

As long as it's within the accepted time frame, why would anyone go the more difficult and problematic route? With all of its flaws, at least eBay has excellent Buyer Protection Policies.

I don't really think many people are going down the more problematic route if the card was a recent purchase. It is the people with Moser cards from a couple years ago that are over a barrel.

perezfan 06-11-2019 10:24 PM

Quote:

Originally Posted by Bored5000 (Post 1887661)
I don't really think many people are going down the the more problematic route if the card was a recent purchase. It is the people with Moser cards from a couple years ago that are over a barrel.

That's a shame for those unfortunate collectors... that's why I emphasized the "accepted" eBay time frame.

Hopefully PWCC and PSA will make good on their respective promises/guarantees, and make these victims whole again.

Best of luck to the hundreds pf people impacted!

Exhibitman 06-11-2019 11:30 PM

I would not send my card to PWCC without cash in hand. 'Work' to get me a refund? Bullshit. I got that swinging.

Republicaninmass 06-12-2019 05:25 AM

No way, they will pull the SGC card

"Its under federal investigation, so seek restitution from the FBI"

SGC added if I sent them the flip, they would reimburse me the grading fee. I thought that was cute.

Peter_Spaeth 06-12-2019 06:06 AM

A slimmed down Leaf Dempsey.
https://www.blowoutforums.com/showpo...postcount=2869

Peter_Spaeth 06-12-2019 06:09 AM

Quote:

Originally Posted by Bored5000 (Post 1887660)
That was originally a $9,000 card that Moser cracked out and doctored. So much for the claim on here that Moser would not have taken a chance by "conserving" the $3,000 Musial card. The risk/reward trade off is rather high when a one grade bump is worth $32K.

As long as you can afford to lose, which he clearly can, it's just a risk reward calculation for him. Anyone who thought he wouldn't crack out the Musial without some assurance of a bump from the inside doesn't understand the scale on which he operates, or the mindset.

jason.1969 06-12-2019 06:27 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1887989)
As long as you can afford to lose, which he clearly can, it's just a risk reward calculation for him. Anyone who thought he wouldn't crack out the Musial without some assurance of a bump from the inside doesn't understand the scale on which he operates, or the mindset.

+1

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Exhibitman 06-12-2019 06:38 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1887988)

http://photos.imageevent.com/exhibit...0to%20hell.jpg

Damn you to hell PWCC and Moser!

bnorth 06-12-2019 06:39 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1887989)
As long as you can afford to lose, which he clearly can, it's just a risk reward calculation for him. Anyone who thought he wouldn't crack out the Musial without some assurance of a bump from the inside doesn't understand the scale on which he operates, or the mindset.

I understand that everything that has been uncovered to this point isn't even a scratch on the tip of a very huge iceberg.

I don't understand the mind set of those that don't understand how shady the hobby is. My favorite part is how they think something could be going on but it doesn't affect them. I love the I collect this and the scammers stay away from it because there is no real $ in it.LOL dream on sucker. Scammers are selling $2 fake autographed cards up to the most expensive card in the hobby.

Lets not forget the morons who think their PSA card(s) are not affected because this is something new.LOL PSA has been a scam since the beginning. They 100% need to fail if this hobby is going to go forward and clean itself up.

I know my posts are not very popular on this forum but at least they are honest.

Peter_Spaeth 06-12-2019 06:40 AM

Quote:

Originally Posted by Exhibitman (Post 1887997)

Boxing tu, Brute.

Peter_Spaeth 06-12-2019 06:42 AM

Quote:

Originally Posted by bnorth (Post 1887998)
I understand that everything that has been uncovered to this point isn't even a scratch on the tip of a very huge iceberg.

I don't understand the mind set of those that don't understand how shady the hobby is. My favorite part is how they think something could be going on but it doesn't affect them. I love the I collect this and the scammers stay away from it because there is no real $ in it.LOL dream on sucker. Scammers are selling $2 fake autographed cards up to the most expensive card in the hobby.

Lets not forget the morons who think their PSA card(s) are not affected because this is something new.LOL PSA has been a scam since the beginning. They 100% need to fail if this hobby is going to go forward and clean itself up.

I know my posts are not very popular on this forum but at least they are honest.

Yeah, "it doesn't affect me" is certainly one of the more common defense mechanisms people employ. I am probably guilty of it myself.

jason.1969 06-12-2019 06:42 AM

Quote:

Originally Posted by bnorth (Post 1887998)
I understand that everything that has been uncovered to this point isn't even a scratch on the tip of a very huge iceberg.



I don't understand the mind set of those that don't understand how shady the hobby is. My favorite part is how they think something could be going on but it doesn't affect them. I love the I collect this and the scammers stay away from it because there is no real $ in it.LOL dream on sucker. Scammers are selling $2 fake autographed cards up to the most expensive card in the hobby.



Lets not forget the morons who think their PSA card(s) are not affected because this is something new.LOL PSA has been a scam since the beginning. They 100% need to fail if this hobby is going to go forward and clean itself up.



I know my posts are not very popular on this forum but at least they are honest.

+1, especially on the PSA part.

Sent from my SM-G950U using Tapatalk

bnorth 06-12-2019 06:56 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1888000)
Yeah, "it doesn't affect me" is certainly one of the more common defense mechanisms people employ. I am probably guilty of it myself.

This is how it works in my experience.

Me: Sorry to tell you but that card is altered.

Other: I can see how it could be altered but mine is NOT.

Me: Your card is altered and I explain how.

Other: Now this gets 3 different responses.
1) Least common, That sucks I now have a altered card in my collection.
2) Most common, I see the card listed as a rare error for sale within a few days by the person I was trying to help.
3) Have the card owner call me names and tell me how important they are in the hobby and how stupid I am. Then they list it as a rare error card for sale.

I won't out names but I have had #s 2 and 3 happen on this forum from some very respected members.:eek:

Fuddjcal 06-12-2019 08:44 AM

Quote:

Originally Posted by bnorth (Post 1887998)
I understand that everything that has been uncovered to this point isn't even a scratch on the tip of a very huge iceberg.

I don't understand the mind set of those that don't understand how shady the hobby is. My favorite part is how they think something could be going on but it doesn't affect them. I love the I collect this and the scammers stay away from it because there is no real $ in it.LOL dream on sucker. Scammers are selling $2 fake autographed cards up to the most expensive card in the hobby.

Lets not forget the morons who think their PSA card(s) are not affected because this is something new.LOL PSA has been a scam since the beginning. They 100% need to fail if this hobby is going to go forward and clean itself up.

I know my posts are not very popular on this forum but at least they are honest.

You are absolutely correct. Some people will go into Car analogies instead of just opening their eyes and see the nose in front of their face.

I hope PSA goes bankrupt much like I hoped GM would go bankrupt back in 1982 when My Trans Am was a lemon. I never purchased another GM piece of S***. My dream came true many years later but then the government inexplicably bailed them out. Maybe PSA will get bailed out by the Government?

There's your car analogy for the day car guys, enjoy....

Peter_Spaeth 06-12-2019 08:48 AM

Meanwhile CLCT stock has recovered and then some from the drop the other day. Not so easy to short stock as some folks seem to think.

CuriousGeorge 06-12-2019 09:19 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1888045)
Meanwhile CLCT stock has recovered and then some from the drop the other day. Not so easy to short stock as some folks seem to think.

It's very easy to short and is up today on 10K shares.

Dpeck100 06-12-2019 09:23 AM

Quote:

Originally Posted by CuriousGeorge (Post 1888057)
It's very easy to short and is up today on 10K shares.

It might be easy to get shares to short but it is a terrible short.

No liquidity and the open interest in the options market is tiny with massive spreads.

It is one thing to not like CLCT and hope for its demise but a terrible trading stock.

Peter_Spaeth 06-12-2019 09:29 AM

Quote:

Originally Posted by CuriousGeorge (Post 1888057)
It's very easy to short and is up today on 10K shares.

Maybe with inside information, but otherwise not so sure about that.

CuriousGeorge 06-12-2019 09:32 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1888065)
Maybe with inside information, but otherwise not so sure about that.

What does inside information have to do with whether it’s easy to short or not? And aside from that with what we have seen on this board and blowout over the past few weeks would you want to be a shareholder of this company?

Peter_Spaeth 06-12-2019 09:34 AM

Quote:

Originally Posted by CuriousGeorge (Post 1888066)
What does inside information have to do with whether it’s easy to short or not? And aside from that with what we have seen on this board and blowout over the past few weeks would you want to be a shareholder of this company?

If by easy you simply mean the process, then nothing, but I thought you were referring to the chances of success.

I wouldn't want anything to do with this stock in either direction at this point. I think the market impact of this stuff is very hard to predict.

CuriousGeorge 06-12-2019 09:42 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1888068)
If by easy you simply mean the process, then nothing, but I thought you were referring to the chances of success.

I wouldn't want anything to do with this stock in either direction at this point. I think the market impact of this stuff is very hard to predict.

Now I understand what you meant. And as for where the stock goes I guess it depends on how much liability and litigation comes out of this. Probably tough to tell now but I know if I thought I had an affected card I would not let them get away without honoring their guarantee.

Peter_Spaeth 06-12-2019 09:50 AM

Quote:

Originally Posted by CuriousGeorge (Post 1888073)
Now I understand what you meant. And as for where the stock goes I guess it depends on how much liability and litigation comes out of this. Probably tough to tell now but I know if I thought I had an affected card I would not let them get away without honoring their guarantee.

We'll see. Companies are very adept at settling lawsuits cheaply enough not to impact the stock price, particularly with plaintiffs' lawyers who want a payday more than anything and settle for pennies on the dollar. Most litigation I do on the defense side, if we don't win at the motion stage, ends up this way.

calvindog 06-12-2019 11:18 AM

Quote:

Originally Posted by bnorth (Post 1887998)

I don't understand the mind set of those that don't understand how shady the hobby is.

I'm starting to think you're like Mike O'Keeffe and just hate cards.

Dpeck100 06-12-2019 11:21 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1888077)
We'll see. Companies are very adept at settling lawsuits cheaply enough not to impact the stock price, particularly with plaintiffs' lawyers who want a payday more than anything and settle for pennies on the dollar. Most litigation I do on the defense side, if we don't win at the motion stage, ends up this way.

It is not my area of expertise but it would seem that CLCT might carry some form of errors and omissions insurance. Just doing a quick Google search it can cover professional advice and it would seem that a graded altered card could fall under inaccurate advice.

At the end of the quarter in March CLCT had 15.7 million in cash and is on pace to earn roughly 9.6 million in their current fiscal year. I keep reading posts about the 832k reserve fund and people are forgetting this is just a bad debt reserve and should they have to payout more they have plenty of other resources to stay a float.

I get the feeling that it isn't going to be a slam dunk for card buyers to be made whole and especially since you sign a submission form that states you won't submit trimmed cards. I could see them going hard after this Moser guy and he clearly has some resources one would think after the trail of successful flips he has made.

Peter_Spaeth 06-12-2019 11:23 AM

Quote:

Originally Posted by Dpeck100 (Post 1888106)
It is not my area of expertise but it would seem that CLCT might carry some form of errors and omissions insurance. Just doing a quick Google search it can cover professional advice and it would seem that a graded altered card could fall under inaccurate advice.

At the end of the quarter in March CLCT had 15.7 million in cash and is on pace to earn roughly 9.6 million in their current fiscal year. I keep reading posts about the 832k reserve fund and people are forgetting this is just a bad debt reserve and should they have to payout more they have plenty of other resources to stay a float.

I get the feeling that it isn't going to be a slam dunk for card buyers to be made whole and especially since you sign a submission form that states you won't submit trimmed cards. I could see them going hard after this Moser guy and he clearly has some resources one would think after the trail of successful flips he has made.

They may be able to pay and not go insolvent but a big hit to their cash will mean a hit to their valuation, no?

Dpeck100 06-12-2019 11:33 AM

Quote:

Originally Posted by Peter_Spaeth (Post 1888108)
They may be able to pay and not go insolvent but a big hit to their cash will mean a hit to their valuation, no?

The market cap is 175 million at the current share price. Obviously it wouldn't be a good thing for the company if they had to pay out millions of dollars but how much of an impact I think is unknown. Their cash since March of 18 was up 6.2 million and the stock was just over $16 then. I could easily be wrong but I don't see them writing checks for six million dollars on this. If so the stock probably retreats some but what will be more telling is what happens to submission revenue. I don't have a breakdown of how much revenue they get from higher priced submissions but if that were to slow significantly because they are getting less submissions that would probably be something that would have a bigger impact on the stock. I can't under any circumstances see this slowing down gaming submissions or lower priced cards like most collectors submit. The other issue is if they deem cards trimmed they keep the fee. I will go through their 10Q and see if I can find the average card submission price. I think if I recall it is under $10. I also think people forget that the coin business is over 60% of revenue and that has struggled in recent years and has had a big impact on the stock. I totally get that many hate grading but this isn't a dooms day scenario under any circumstances in my view.

bnorth 06-12-2019 11:39 AM

Quote:

Originally Posted by calvindog (Post 1888105)
I'm starting to think you're like Mike O'Keeffe and just hate cards.

I have no idea who Mike O'Keefe is but I love cards. I am always buying, selling, and trading cards with some excellent people.:)

I just really hate the shady side of the hobby.


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