I think we have to look at the inevitability of this business model. It's a lesson in economics...
Would you pay money to have your books pressed to achieve a lower grade? Would you pay lots of money for that book to be pressed and regraded to a higher grade?
I know this has been discussed over and over. But the explosion of 9.8s (previously a very difficult grade to achieve) has prompted me to start to question this whole thing again.
And a very telling observation: The majority of these new 9.8s showing up are not new to market 9.8s.
Last decade's 9.4 is yesterday's 9.6 and today's 9.8. And I don't think it has anything to do with CGC's lax grading. As collectors, investing in having your books pressed must yield dividends for this business model to work.