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Logan Paul's 3.5 MM Pokemon case updates
SammyC
Posts: 112 ✭✭
I notice the previous thread of Logan Paul's 3.5 MM Pokemon case is closed. I would like to use this thread to people to post updates regards to that case. I know Logan met with BBCE last weekend but did they open the case? what was the outcome?
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Update on Twitter:
we cracked open my $3,500,000 Pokémon box to see if it’s REAL or FAKE.
coming Thursday…
Thx for the updates! I don't use twitter so I didn't know. thank you!
I have to imagine it’s no good. We will see.
HOF SIGNED FOOTBALL RCS
I have a feeling they will break this down into Part I, Part II, Part III.... etc Those clicks and video views will make Paul get that $3.5M back if not more.
Or it's real and the boxes/case will be rewrapped and even more valuable because of the provenance and popularity of this being the famous "Logan Paul Case".
This. He'll milk this for all it's worth and will probably make more than $3.5 million off the publicity generated from it.
He'd be dumb if he didn't, regardless if it's real or not.
My question is why did mods shut the other thread down, & with no explanation ! Come on..
It was FAKE
Wow. They cracked the case open to find GI Joe Packs in Pokemon boxes. Big OOOF. I really hope this doesn't ruin Steve and BBCE's reputation, as he's hands down the best in the business in my opinion. He's the only guy in this I feel bad for. I don't know how much Logan Paul is involved in the hobby, but my guess is he bought this just for the flex.
Ouch.
Brian
eBay Store
Greg Maddux #1 Master SetGreg Maddux #2 Basic Set
Ouch.
Bosox1976
I feel bad for Steve. He was just crapping himself from the moment they said "Wait, why are the boxes so puffy?"
From BBCE on Facebook:
“In March 2021, we were asked to provide our good-faith opinion and verify that the Pokémon case had not been previously opened or tampered with. We evaluated it and, in our opinion, the case was in its original state. This past Saturday, we opened that case to verify our opinion and were extremely disappointed to learn it was inauthentic. We have authenticated tens of thousands of sealed card products for nearly 20 years and have meticulously developed a structure and framework to provide our expert opinion. We are re-evaluating our approach to all sealed cases going forward. We have also decided to halt the review of Pokémon or Yu-Gi-Oh! cases or boxes until we assess and revise our processes to avoid this happening in the future.”
Tough situation for BBCE, but I would say they handled it about as well as humanly possible.
That stinks. Hope it gets traced all the way back to the creator of the case and they get a conviction.
In my eyes Steve Hart and BBCE are still the very top of the industry for authenticating unopened product. If anything, this incident will drive them further up in the trust category. They LITERALLY stood by their word... put their face and name on the front line, and are doing something about it. 99% of this hobby would run and hide if this happened to them. Kudos to the BBCE guys, and I have a new found respect for Logan Paul.
And to whoever put those ridiculous G.I. Joe packs in there... wow. lol
"A REAL AMERICAN HERO!!!!"
Very tough situation for BBCE and feel bad for Steve who is genuinely one of the good guys in the hobby. I feel bad for Logan Paul as well. I don't really know much about the guy and it sounds like he is not well-liked but the guy made an investment much like many of us have in the same hobby and ended up a victim of fraud on the highest level in the hobby.
Ouch
Successful Trades: Swampboy,
So since it's that much money, one would assume the FBI would get involved... and wouldn't there be fingerprints on the packs inside the other boxes of cards? Just thinking out loud...
Horrible outcome for all involved. The good news for Logan at least is that he's already been refunded the 3.5M from (Matt) Shyne who now has to go get his money back (from I think the fat dude on the left in vid.) Someone near the beginning of the chain of custody will end up getting screwed unless they somehow manage to find the thief that created that thing.
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
Cardporn on Instagram had some more details about this transaction:
cardporn
The result is out: IT’S FAKE.
We can confirm that @shyne150 refunded @loganpaul’s $3.5m immediately.
HOWEVER, Jameel from @shopmeelypops and Jacob from @cardkahuna still haven’t paid @shyne150 back.
We have it on good authority that Jameel initially promised he’d pay Shyne back immediately (Jameel’s cut of the deal was $515,000 and Jacob’s cut was $2,185,000), however he has since gone back on his word and has lawyered up, making Shyne waste money on attorneys to fight to get his money back.
We are pretty disappointed by this development as Jameel has always appeared to be a stand up guy. Jameel profited handsomely from this deal; he was the one who had the pre-existing relationship with Steve at @bbcexchange, and was the one who (along with Jacob) pretty much convinced BBCE to authenticate the case despite BBCE’s inexperience in authenticating Pokémon cases.
Jameel even made a series of YouTube videos about the sale to increase his own notability and credibility within the hobby and to promote his shop.
A man is only as good as his word, yet Jameel has gone back on his. Hopefully he comes to his senses and pays Shyne back immediately.
Next on our sh!t list is BBCE. They are considered the experts on authenticating SPORTS wax and packs. They had no business authenticating this Pokémon case to begin with, and should have declined the job. It appears that Steve was more persuaded the case was real by Jameel and Jacob rather than rely on the science and actually thoroughly examine the case itself. Steve’s inexperience on this product resulted in him making a very bad mistake. Had he not authenticated and wrapped this box to begin with, Shyne would never have bought it.
Let’s hope that BBCE stick to authenticating what they’re specialists in from now on so this NEVER happens again.
As for Jacob aka @cardkahuna, something was very off about him from the beginning. He also promised to refund Shyne immediately, but despite claiming to be a “$150m young man”, he now claims he can’t pay Shyne back as he doesn’t have the money right now. He’s told multiple different stories, and is as slippery as a snake. He’s definitely one to avoid in the hobby.
https://www.instagram.com/tv/CYrng_upf9t/?utm_source=ig_web_copy_link
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
Well, that actually means $150,000. So no wonder he can't.
I'm pretty sure it was all the legal assumptions being made by lay people as to guarantees and recourse
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Man watching that video was rough. I'm upgrading that to brutal
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
That was the most elaborate GI Joe wax pump scheme ever.
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
Wow.. incredible video. I think it shows there are some bad actors out there. It also shows that Steve (BBCE) is not infallible, as many portray him to be.
Gretzky,Ripken, and Sandberg collection. Still trying to complete 1975 Topps baseball set from when I was a kid.
Cobra Command has to be responsible
When he finds out it's GI Joe and he just throws the box of cards is priceless.
It does bring even more attention to the hobby. Wouldn't it lead to even higher prices across the board for cards?
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
The obvious elephant in the room is that the case was authenticated because the tape and label were properly imbedded and aged. It totally fooled Steve. If the same methodology was used on sealed sportscard cases it can't help but raise doubts. At least that's the first thing that came to me.
In the "case" of the Pokémon opening in the video the con wasn't the GI Joe packs in Pokémon boxes. The con was to deceive the aging and imbedding of the tape and label. That was it. Someone figured it out. The GI Joe packs were a giant middle finger to the hobby
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
BBCE receives a lot of praise around here and rightfully so, but if we're going to be fair and balanced then we need to recognize this for what it is -- a terrible look for them. not all mistakes are created equal. i can't stand either one of the Paul brothers, but that was so painful to watch that i actually found myself feeling real empathy for that cat.
The best thing that could possibly happen is if everyone here goes and opens up all of your BBCE sealed boxes and cases right now. Rip them all open. That way mine will be worth more. LOL
You beat me to it.
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Goes to show that anyone can make mistakes. Unfortunately, it happened to a great guy and ambassador of our hobby in this instance. More weight should be put into provenance when making these types of purchases. Sure, having Steve, or PSA say something is legit, is one thing, but it seems that a lot of experts in that community knew something wasn't right with that case.
Collecting:
post world war II HOF rookie
76 topps gem mint 10 commons 9 stars
Arenado purple refractors(Rockies) Red (Cardinals)
successful deals with Keevan, Grote15, 1954, mbogoman
So someone, Cobra or otherwise, must have put this together years ago, right? I mean, Steve mentions on several occasions that the outside of the box looked legitimately dated/worn.
But I have to ask, why wasn't the case opened and each box wrapped as FASC? That's how BBCE usually handles sports cases. Am I wrong?
oh man, terrible news. I think this does add some layer of doubt on sealed cases. If the full process is as stated in the previous thread, it is not enough. checking the tape/staples.
I guess Steve should have stayed in his lane. this is a terrible look. I am shocked he took such a risk with his reputation by "authenticating" something so far out of his depth.
George Brett, Roger Clemens and Tommy Brady.
This played out about how I expected. Fake case due to BBCE stepping out of their comfort zone, initial refund from the high profile seller to the high profile buyer, then lawyering up for the rest of the chain of custody participants.
I believe an FBI investigation is warranted due to the size of the fraud.
>
This was discussed in the previous thread. If requested, BBCE will authenticate and wrap a full case, rather than the boxes FASC. Many pointed out how important provenance becomes in an instance like this, and no doubt BBCE will adjust their protocols due to this unfortunate event. We may not see full cases wrapped like this again. Especially early Fleer basketball - which is where I'd expect the biggest risk/reward would come from when trying to forge something to fool BBCE.
I was hoping there was some detail that we missed, or that the Pokebeach guys missed in their analysis. Was really rooting for Steve on this one but it appears he did get duped by the guys who had it authenticated and made the penultimate sale at $2.7 mil.
I just don't get POKEMAN. How can it be worth more than American heros like GI Joe, 6 Million Dollar Man and The Dukes of Hazzard?? Glad I don't collect that cowcrap.
I would give anything to have my original 6 Million Dollar Man action figure with the lab kid and the Oscar Goldman "action" figure that I threw aside to God knows where because he didn't have a cool eye or bionic arm.
Ugh.
I know Steve is a great guy and I trust BBCE product, but this is the second high profile beat that he should have caught. Provenance on this case was brutal.
And he should have known sequencing on all the star cello’s that got by.
This may not be a popular take but when you position yourself as an authority, you will be held to that standard. This is a big deal, period. Was very preventable.
@PROMETHIUS88 - I still have my 6 Mill man figure!! Will try to share a pic tomorrow. Heck Yeah!!
I would think a nicely centered Major Bludd RC would be pretty cool to see
I’ve been looking for some GI Joe…. Who can I contact to get these?
On a side note: it was pretty ballsy for him to look all around the room and say “we” all got duped….
Nic
Guides Authored - Graded Card Scanning Guide PDF | History of the PSA Label PDF
Time for them to stop authenticating unopened cases and stick to boxes only.
The reality is that cases need to be opened now. Feel really bad for Steve and such a great asset. BBCE went a bridge too far here and paid a price for sure.