@ndleo said:
Before the discussion was “Do we bid on PWCC auctions?”, now the question is “Do we bid on ANY auctions?”
I think that's the most frustrating thing. We all knew that there are bad actors in our hobby but at least I personally underestimated the large scale of the fraud. And to have really major players like COMC, PWCC, and others involved is truly disheartening. Always felt a little safe because I'm not a high roller but now even $20 cards are showing up trimmed, so that's out the window.
I dumped over $110k in PSA cards over the past month, selling 95% of them on PWCC. Made a nice % on everything and sad to see them go, but my guess is that I'll be able to buy them back for 25-35% less in 18 months. PWCC is still realizing strong prices, which is a good thing for the hobby overall. May the high tide keep raising all boats and continue to do so forever.
Everyone can keep saying it's a small %, not a big deal, people are overreacting, grading is imperfect - and I get it. There is a bit of truth in all those statements and everyone needs to look inside and judge the situation for themselves.
But if someone like me, who has been buying PSA cards since 1998, gets spooked, I have to listen to my gut. And my gut says get out now. Especially for the type of cards I am buying, there is too much to lose. I still have a nice collection - #3 on the Registry for my 1951 Topps Ringside Boxing Set, which now that collection has a stain as the previous #3 set has been tagged as part of the trimming concerns. It sucks.
Moving into all BBCE sealed items, vintage Air Jordan sneakers and photo matched game used jerseys until the market tells me otherwise.
Be safe, everyone. Wolves are out there trying to eat the sheep. Don't be someone's dinner.
Joe
IG: goatcollectibles23
The biggest lesson I've learned in this hobby, and in life, is that if you have a strong conviction, you owe it to yourself to see it through. Don't sell yourself, or your investments, short. Unless the facts change. Then sell it all.
@PaulMaul said:
I only browsed the COMC thread...did they do anything other than host the sale of cards that turned out to be bad?
This is the statement Comc sent to a BO member who inquired about what is going on:
Thank you for contacting us with your concerns. We have begun an investigation on the matter and will take the appropriate course of action. Due to the nature of the situation, we do not have any further information at this time.
To report a fraudulent item on COMC, please reply with the following information:
Altered Items
• Before and after photos of the item showing clear evidence of alteration
• Description of the issues with the item
• Grading certification number, when applicable
• Serial number, when applicable
Items we can verify as fraudulent based on the details provided will be removed and investigated.
As for blanket returns of the items, we are happy to take everything back that is within our return window (7 days contact, 14 days return). Please provide me with any item numbers for items that are within our return window and I will be happy to take care of those for you.
For anything outside of that time window, we will honor a return on anything that is confirmed altered that we didn’t catch once our investigation is completed.
Ok, I believe this has gone far enough. Again, I am sorry that things do not seem to be progressing as quickly as everyone would like, but they are progressing. In the meantime, I don't care for the tone this has taken. It began as a posting of information and discussion, but has devolved into mud slinging by people who do not know the full details of the situation, nor are involved in the rectification of things.
Todd Tobias - Grateful Collector - I focus on autographed American Football League sets, Fleer & Topps, 1960-1969, and lacrosse cards.
Comments
That would be a tought one. So if you can't detect,you must accept? I mean,what else could they really say?
Yea this is anything but a small problem. That’s becoming very clear.
I collect: 80’s Rookies and 86 Fleer Basketball
Before the discussion was “Do we bid on PWCC auctions?”, now the question is “Do we bid on ANY auctions?”
I think that's the most frustrating thing. We all knew that there are bad actors in our hobby but at least I personally underestimated the large scale of the fraud. And to have really major players like COMC, PWCC, and others involved is truly disheartening. Always felt a little safe because I'm not a high roller but now even $20 cards are showing up trimmed, so that's out the window.
Currently Collecting:
Flickr: https://flickr.com/gp/184724292@N07/686763
I only browsed the COMC thread...did they do anything other than host the sale of cards that turned out to be bad?
I dumped over $110k in PSA cards over the past month, selling 95% of them on PWCC. Made a nice % on everything and sad to see them go, but my guess is that I'll be able to buy them back for 25-35% less in 18 months. PWCC is still realizing strong prices, which is a good thing for the hobby overall. May the high tide keep raising all boats and continue to do so forever.
Everyone can keep saying it's a small %, not a big deal, people are overreacting, grading is imperfect - and I get it. There is a bit of truth in all those statements and everyone needs to look inside and judge the situation for themselves.
But if someone like me, who has been buying PSA cards since 1998, gets spooked, I have to listen to my gut. And my gut says get out now. Especially for the type of cards I am buying, there is too much to lose. I still have a nice collection - #3 on the Registry for my 1951 Topps Ringside Boxing Set, which now that collection has a stain as the previous #3 set has been tagged as part of the trimming concerns. It sucks.
Moving into all BBCE sealed items, vintage Air Jordan sneakers and photo matched game used jerseys until the market tells me otherwise.
Be safe, everyone. Wolves are out there trying to eat the sheep. Don't be someone's dinner.
IG: goatcollectibles23
The biggest lesson I've learned in this hobby, and in life, is that if you have a strong conviction, you owe it to yourself to see it through. Don't sell yourself, or your investments, short. Unless the facts change. Then sell it all.
No, this is not a pwcc situation, as far as anyone can tell. Rather their largest sellers using the platform to move bad cards.
And to be fair to COMC they booted these guys in a week. Ebay is still slinging pwcc trimmed cards.
They haven't provided any evidence that COMC was involved other than hosting.
This is the statement Comc sent to a BO member who inquired about what is going on:
Thank you for contacting us with your concerns. We have begun an investigation on the matter and will take the appropriate course of action. Due to the nature of the situation, we do not have any further information at this time.
To report a fraudulent item on COMC, please reply with the following information:
Altered Items
• Before and after photos of the item showing clear evidence of alteration
• Description of the issues with the item
• Grading certification number, when applicable
• Serial number, when applicable
Items we can verify as fraudulent based on the details provided will be removed and investigated.
As for blanket returns of the items, we are happy to take everything back that is within our return window (7 days contact, 14 days return). Please provide me with any item numbers for items that are within our return window and I will be happy to take care of those for you.
For anything outside of that time window, we will honor a return on anything that is confirmed altered that we didn’t catch once our investigation is completed.
Have a great day,
Joe Highfill
COMC
Eric
Erikthredd’s MJ Collection: https://www.psacard.com/psasetregistry/publishedset/395035
Erikthredd’s Nike Air Jordan Collection: https://www.psacard.com/psasetregistry/basketball/key-card-sets/nike-poster-cards-michael-jordan-1985-1992/alltimeset/408486
Ok, I believe this has gone far enough. Again, I am sorry that things do not seem to be progressing as quickly as everyone would like, but they are progressing. In the meantime, I don't care for the tone this has taken. It began as a posting of information and discussion, but has devolved into mud slinging by people who do not know the full details of the situation, nor are involved in the rectification of things.