Certified Collectibles Group (CCG) Acquires Classics Incorporated 3 3

[Tropean]

Well this should cut down the waiting times.....

In house pressing and restoration creates a huge ethical vacuum - and doubts in peoples minds about their grades.

This changes everything.

 

Very interesting as a business proposition, in that now the question will inevitably be asked whether CGC gave a "home team" grade to a book which its sister company restored and/or pressed. This would seem to open the door to a legitimate competitor (i.e., not PGX) which did purely grading. Be interesting to see if someone sees that opportunity and pursues it.

 

As a matter of curiosity I did a very quick and superficial search to see whether Sotheby's or Christie's auction houses did restoration or conservation along with their appraisal and sales functions. If they do they're hiding it pretty well on their websites (like I said, I did not look very deeply). This would seem to indicate that a firm whose primary business is grading (and therefore implicitly offering opinions on value) might not be the best candidate to offer resto and conservation services.

 

Will be fascinating to see how this plays out in the marketplace over the coming years.

 

EDITED: Further looking around indicates that Sotheby's has a restoration division, so I appear wrong on that point. Still looking for more info.

Edited November 16, 2012 by Tropean

[Dr. Balls]

This brings back memories of all those old lighting rod threads. Too bad they have all been deleted!

 

I imagine this one is going to be a huge one. Quite a bombshell that goes past opinion - this is going to change they way they do business, and the way people do business with them. So it should be for a good read.

[COI]

This thread will be 100 pages long by Sunday.

[KingOfRulers]

That's a big announcement. Wow.

 

Welcome to FL!

Edited November 16, 2012 by KingOfRulers

[DoctorWyoming]

I'm curious to see if the pricing structure will remain the same for Classics.

 

THIS was my thought. He used to offer a discount for slabbing too. Will this change?

[maloney414]

A lot of people will complain and say it's a conflict of interest publicly, but then turn around and use the service privately.

[Mad Titan]

This thread will be 100 pages long by Sunday.

 

[Dr. Balls]

This thread will be 100 pages long by Sunday.

 

And so it should. I'm kinda waiting for the heavyweights to chime in. My little submit-20-books-a-year opinion doesn't mean squat in the grand scheme of things. I'm interested to see what the real dealers think in how this is going to affect them, if at all.

[Silver Surfer]

I doubt they will say much because if you notice no one really advertises that they prep their books in this manner. Everyone says pressing is no big deal but why do they still treat it like its a dirty little secret?

[VintageComics]

Will there be stickers applied to books that need a Classic Incorporation?

 

Just askin'

 

 

 

 

[Reno McCoy]

Wow. This is a huge, huge game changer. I already feel a little dirty.

[comicstock]

I heard CGC is opening up an auction site...

Edited November 16, 2012 by comicstock

[COI]

This thread will be 100 pages long by Sunday.

 

And so it should. I'm kinda waiting for the heavyweights to chime in. My little submit-20-books-a-year opinion doesn't mean squat in the grand scheme of things. I'm interested to see what the real dealers think in how this is going to affect them, if at all.

 

If history is any indication, there will be a 100-200 page uproar that will change absolutely nothing, then it'll be business as usual. Those who have the most to gain or lose aren't typically the most candid in these kinds of threads.

 

I will enjoy the ride.

[Mad Titan]

I heard CGC is opening up an auction site...

 

Heritage Auctions?

[COI]

I heard CGC is opening up an auction site...

 

I hear they'll be outsourcing to China.

[COI]

How long until someone accuses the OP of being a shill, despite the green ID?

[maloney414]

I honestly don't see anything negative happening to their business model. People will continue to pay a premium for CGC 9.8 books. As long as they do, people will continue to submit books (and press them too), and CGC will continue to be profitable.

 

They have been leaving money on the table for years and I know for sure they regreted not doing this sooner.

[drbanner]

[Straw-Man]

I'm having a bunker built in the yard, and stocking up on water, canned goods and butterfinger chips.

[revat]

the pressing turnaround times will end up getting clogged too. horrible, horrible business decision IMO.

 

Although if they wanted to do some vertical integration that wouldn't ruin their public perception of independance, they should have integrated with some type of post slabbing framing service for CGC'd comics.