Massive theft at Dallas card show, Nearly 2 Million Dollars worth of cards stolen

[raulus]

Originally Posted by gregndodgers

If I had to bet, I would say these thieves already had buyers lined up or potential buyers. IMO, a good portion of the sports card industry is driven by collectors who have a network of buyers and sellers. So IMO, the really rare / high end stuff would likely end up in private collections and stay there for years. The other stuff will be cracked open, and then either sold raw or regraded.

All it takes is for one of these cards to be discovered, and then the whole scheme could unravel.

Your theory is certainly possible.

It just seems like you're introducing a whole lot of co-conspirators into the process, which dramatically increases the likelihood of detection.

In theory, a single buyer might make more sense, just to keep the number of involved parties to a minimum. But when you look at the inventory here, just as one example, it's hard for me to imagine a single buyer who feels like they need a fist full of mostly low-grade 52 Mantles, and they're willing to risk prison to get them. Maybe a single 52 Mantle in PSA 8/9/10 or a high grade complete 52T set. Or pick your favorite high value and desireable grouping of cards that would slot into a nice collection to hold in perpetuity. While the stolen case of cards is certainly a very valuable grouping of cards, it doesn't scream out to me that some aspiring collector with a bunch of cash and shady morals would decide that they'd rather pick up this assortment of cards on the cheap for their own collection, because they're dying to have all of these specific cards.

[gregndodgers]

Originally Posted by raulus

Your theory is certainly possible.

It just seems like you're introducing a whole lot of co-conspirators into the process, which dramatically increases the likelihood of detection.

The buyers don't know they are stolen.

For example, there is a card shop I know of that has a reputation - among a small community of collectors in my area - for dealing in stolen cards. He gets some really amazing cards...Babe Ruths, Cobbs, Michael Jordan's - all high end stuff. I always wondered how he always had such great inventory until one day another card shop owner said he sells hot cards. Well, I know for a fact that as soon as a great card walks in the door, that unscrupulous shop owner already has a buyer for the card. In fact, he has a network of high end collectors that routinely buy from him. They spend thousands each month. One quick phone call, and the card has been re-sold.

Once I figured this out, I stopped going to his shop.

[Peter_Spaeth]

Originally Posted by gregndodgers

The buyers don't know they are stolen.

For example, there is a card shop I know of that has a reputation - among a small community of collectors in my area - for dealing in stolen cards. He gets some really amazing cards...Babe Ruths, Cobbs, Michael Jordan's - all high end stuff. I always wondered how he always had such great inventory until one day another card shop owner said he sells hot cards. Well, I know for a fact that as soon as a great card walks in the door, that unscrupulous shop owner already has a buyer for the card. In fact, he has a network of high end collectors that routinely buy from him. They spend thousands each month. One quick phone call, and the card has been re-sold.

Once I figured this out, I stopped going to his shop.

So there's a constant supply of stolen high end cards being sold in plain sight and this all just goes under the radar?

[gregndodgers]

Originally Posted by Peter_Spaeth

So there's a constant supply of stolen high end cards being sold in plain sight and this all just goes under the radar?

Yea, is that so surprising? Of course, the guy is smart and takes precautions. He does not ask any questions when he buys the cards, and he quickly sells them. In fact, I would think that even he does not know they are stolen.

One day, I was in the unscrupulous shop, and I heard the shop owner receive two calls in a span of 30 minutes. Both were from people who live out of town and were "just traveling through the area," and they had some high end cards to sell. One was a raw Jordan RC. The shop owner told him to bring it in. Now, I don't know for sure that the Jordan was stolen, but when a non-local person "just travelling through" comes into your store with a high end card (and perhaps sells it for 25% of book), then it begs the question of whether the card is stolen.

Hence, when I say he deals in hot cards, what I'm really saying is that he does not ask any questions when he buys even though he probably should.

[Peter_Spaeth]

Originally Posted by gregndodgers

Yea, is that so surprising? Of course, the guy is smart and takes precautions. He does not ask any questions when he buys the cards, and he quickly sells them. In fact, I would think that even he does not know they are stolen.

One day, I was in the unscrupulous shop, and I heard the shop owner receive two calls in a span of 30 minutes. Both were from people who live out of town and were "just traveling through the area," and they had some high end cards to sell. One was a raw Jordan RC. The shop owner told him to bring it in. Now, I don't know for sure that the Jordan was stolen, but when a non-local person "just travelling through" comes into your store with a high end card (and perhaps sells it for 25% of book), then it begs the question of whether the card is stolen.

Hence, when I say he deals in hot cards, what I'm really saying is that he does not ask any questions when he buys even though he probably should.

Have you considered alerting the authorities?

[gregndodgers]

Originally Posted by Peter_Spaeth

Have you considered alerting the authorities?

I have, but at the end of the day, I have zero evidence. Only strong suspicion and hearsay. I have a house and a family, so I cannot take the chance that what I say could come back and bite me if you know what I mean.