American Greed-CNBC

Fballguy · #1 08-22-2017, 10:26 AM

Quote:

Originally Posted by vintagerookies51

I'm apparently in the minority in not caring what Evers paid for that box of cards. If his story is true (very well could be a lie), then he offered the guy $500 just by looking at 4 cards. The seller must've been happy with it if he accepted right away. Either way it was a deal

Agreed...I'm sure everyone here would've cut the guy a check for 50K on the spot.

1952boyntoncollector · #2 08-22-2017, 10:35 AM

I think the point about the $500 garage sale buyer is he is a victim of karma... a illegal thief stealing from a 'legal' thief is not as sympathetic... versus just a regular guy selling cards....moral judgments i guess on that guy... it is interesting that the guy did say 'i only saw 4 of the cards' when i made the offer....which is a moral justification if true...but we all know thats a lie, had to have seen more.. so its his character we have a problem with even though he appears to have been a huge victim of fraud.

I have to say it..but out of all the american greed episodes this one appeared to be one of the worst ones.....if i wasnt into baseball cards i dont know if i would of watched the whole thing...there wasnt any running from the law or big court room drama.....no fake kidnappings for fake deaths......the wagner being trimmed was already discussed a lot on tv shows like espn 30 for 30...also we dont hear any comments from the fraudsters.. we also dont hear that much about the luxurious lifestyles...no siberian tigers in the lawn etc..

Orioles1954 · #3 08-22-2017, 10:42 AM

Quote:

Originally Posted by 1952boyntoncollector

I have to say it..but out of all the american greed episodes this one appeared to be one of the worst ones.....if i wasnt into baseball cards i dont know if i would of watched the whole thing...there wasnt any running from the law or big court room drama.....no fake kidnappings for fake deaths......the wagner being trimmed was already discussed a lot on tv shows like espn 30 for 30...also we dont hear any comments from the fraudsters.. we also dont hear that much about the luxurious lifestyles...no siberian tigers in the lawn etc..

+1.

aconte · #4 08-22-2017, 01:04 PM

Quote:

Originally Posted by Orioles1954

I have to say it..but out of all the american greed episodes this one appeared to be one of the worst ones.....if i wasnt into baseball cards i dont know if i would of watched the whole thing...there wasnt any running from the law or big court room drama.....no fake kidnappings for fake deaths......the wagner being trimmed was already discussed a lot on tv shows like espn 30 for 30...also we dont hear any comments from the fraudsters.. we also dont hear that much about the luxurious lifestyles...no siberian tigers in the lawn etc..

+1.

+2

I was bored and actually fell asleep with twenty minutes to go. I had to
rewind on the DVR.

Bicem · #5 08-22-2017, 01:42 PM

Tough crowd. Thought it was great, but I'll watch anything on TV relating to the hobby and starring people I know.

Fballguy · #6 08-22-2017, 10:58 AM

Quote:

Originally Posted by 1952boyntoncollector

I think the point about the $500 garage sale buyer is he is a victim of karma... a illegal thief stealing from a 'legal' thief is not as sympathetic... versus just a regular guy selling cards....moral judgments i guess on that guy... it is interesting that the guy did say 'i only saw 4 of the cards' when i made the offer....which is a moral justification if true...but we all know thats a lie, had to have seen more.. so its his character we have a problem with even though he appears to have been a huge victim of fraud.

Just curious...What are the tax implications of a score like that? Turning $500 into $49K. Does the gov't get half? That story inspired me to go tag saling this weekend and I want to be prepared.

Paul S · #7 08-22-2017, 11:17 AM

Never watched American Greed before. Although I know almost all of the story and knew the ending would be anticlimactic, I assume most non-hobby viewers felt the same. I could believe much of the Evers story except I don't know any collector, even new to the hobby, who wouldn't be thumbing through that box and hence some sort of ballpark value. Is it just me or did '58 Topps get more visual airtime than any other card- even the Wagner? Must be those garish colors

birdman42 · #8 08-25-2017, 12:05 AM

Quote:

Originally Posted by Fballguy

Just curious...What are the tax implications of a score like that? Turning $500 into $49K. Does the gov't get half? That story inspired me to go tag saling this weekend and I want to be prepared.

Nope. Gain from the sale of collectibles is a special category of capital gains. Assuming the collectible had been held for more than one year, the gain is taxed at ordinary income rates with a cap of 28%. So if you're in the 15% marginal bracket, the tax on the gain is 15%. If you're in the 33% marginal bracket, your tax is 28%. Note that many states don't distinguish much between sources of income (like MD, where I am), so income is income and there's no special treatment for capital gains.

If the gain is from a quick flip, like Mr Evans apparently, then it's short-term and it's all at ordinary income tax rate with no cap. (Though the highest bracket is currently 39.6%, plus the 3.8% NIIT on investment income.)

Bill

bnorth · #9 08-25-2017, 07:09 PM

Finally watched it today. I though it was very well done for the maybe 40 minutes of actual content.

mark evans · #10 08-25-2017, 08:28 PM

I finally saw the show as well and would like to sign on to the compliments paid to Jeff and Ryan.

Mark

Robert_Lifson · #11 08-26-2017, 02:35 AM

I was very surprised to find extra Mastro Auction episode video clips on the American Greed website. These were listed as "web exclusive" videos on the official CNBC American Greed website and obviously represent footage that could have easily made it onto the show but just couldn't make the final cut due to editing and time constraints. There is great commentary and very interesting stories presented by FBI SA Brian Brusokas and former federal prosecutor Steven Grimes in these clips and I thought anyone not aware of them (which I assume is most as I just happened to trip over them by chance and don't recall anyone mentioning) might really like to see them too.

https://www.cnbc.com/video/2017/08/2...ke-a-buck.html

https://www.cnbc.com/video/2017/08/2...nce-faked.html

https://www.cnbc.com/video/2017/08/2...ally-stop.html

hshrimps · #12 08-26-2017, 01:38 PM

So which t206 Plank was re-backed?

Peter_Spaeth · #13 08-26-2017, 02:23 PM

Quote:

Originally Posted by hshrimps

So which t206 Plank was re-backed?

I believe it was a psa 6.

mechanicalman · #14 08-22-2017, 12:17 PM

Quote:

Originally Posted by 1952boyntoncollector

I have to say it..but out of all the american greed episodes this one appeared to be one of the worst ones.....if i wasnt into baseball cards i dont know if i would of watched the whole thing...there wasnt any running from the law or big court room drama.....no fake kidnappings for fake deaths......the wagner being trimmed was already discussed a lot on tv shows like espn 30 for 30...also we dont hear any comments from the fraudsters.. we also dont hear that much about the luxurious lifestyles...no siberian tigers in the lawn etc..

It's funny, I actually agree with this 100%. Last week's episode, I believe, was about a couple who blew up a whole neighborhood by rigging a gas leak explosion for the insurance. If I wasn't head over heals for baseball cards, I would have found this episode devoid of relevance or sympathy for any "victims."

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