Is Mile High a reference to their prices? 4 4

[roach04]

47 minutes ago, 01TheDude said:

Rats! He was so close to cornering the entire "comics books markets". Such a shame- the guy has never had one lucky thing ever happen to him.

 

Not gonna lie - legitimately laughed out loud at that one - well done!

[Hudson]

Well last week (May 11) Chuck stated 42 of his skylights were damaged in the storm (see my previous post on page 19) and he estimated his damages to exceed $100,000.  In today's email, he now states 70 massive skylights simultaneously shattered.   He also states he is still finding damaged product.  I am really glad I am not his insurance company.  I am curious as to what "value" his company is going to put on these damaged comics, books, toys, posters, and magazines.  Here is an except from today's email.....

I am still busier than a big on a hot stove, working every day to find and sort the numerous comics, books, toys, posters, and magazines that were damaged in our Jason St. Mega-Store when our 70 massive skylights simultaneously shattered during the huge hailstorm that we experienced a week ago Monday. Coming into Jason St. this morning I thought that I had things well in hand, but after I picked up a little high-intensity mag light and started reexamining shelving in areas of the warehouse that were not as well lit as our main store, I discovered even more water-damaged merchandise. Sigh. The fun never stops...

 

[shadroch]

I'm not defending Chuck but years ago, I worked in a large parking garage in NYC.  A freak storm blew out one of our skylights and damaged several overhead lights.  We put boards over the skylight and had an unlicensed guy work to rig up the lights.

When he said he was done, my boss flipped the switch and everyone of the overhead lights blew out simultaneously, about half of them actually shattering.

It could well be that the skylights seemed to survive but had damage not immediately noticeable.  That's why insurance companies have inspectors.

[Hudson]

I just hope Chuck's insurance company knows his 40% off code word.

[jharvey]

2 hours ago, Hudson said:

I just hope Chuck's insurance company knows his 40% off code word.

Hmm..that's a good point. Is it considered insurance fraud if you claim you lost a raw copy of New Mutants #98 with a price tag of $2,500, when the highest a CGC 9.8 ever sold for is $1,200, and the average current price is $749?

Edited May 21, 2017 by jharvey

[oakman29]

9 hours ago, Hudson said:

Well last week (May 11) Chuck stated 42 of his skylights were damaged in the storm (see my previous post on page 19) and he estimated his damages to exceed $100,000.  In today's email, he now states 70 massive skylights simultaneously shattered.   He also states he is still finding damaged product.  I am really glad I am not his insurance company.  I am curious as to what "value" his company is going to put on these damaged comics, books, toys, posters, and magazines.  Here is an except from today's email.....

I am still busier than a big on a hot stove, working every day to find and sort the numerous comics, books, toys, posters, and magazines that were damaged in our Jason St. Mega-Store when our 70 massive skylights simultaneously shattered during the huge hailstorm that we experienced a week ago Monday. Coming into Jason St. this morning I thought that I had things well in hand, but after I picked up a little high-intensity mag light and started reexamining shelving in areas of the warehouse that were not as well lit as our main store, I discovered even more water-damaged merchandise. Sigh. The fun never stops...

 

I smell shenanigans.

[Ken Aldred]

It’s a shame that he didn’t show any empathy towards the victims of the terrible storm that hit the east coast a few years back. 

A bit of a double standard here, sorry to say.

Edited May 21, 2017 by Ken Aldred

[Batman1fan]

It would be interesting to find out, when it's all said and done, what the settlement amount that Chuck receives versus what he values his items at.  The real estate portion is pretty cut and dried.  Home Depot, Lowes, etc sells skylights, roofing materials, etc for a certain amount.  The prices might fluctuate a few dollars between stores, but it's still probably fairly easy to come up with a value for these things.  The interesting part will be how much he values his collectibles at versus how much he claims his items are worth compared to the prices those same items can be had from other sources.  

[ygogolak]

22 minutes ago, Batman1fan said:

It would be interesting to find out, when it's all said and done, what the settlement amount that Chuck receives versus what he values his items at.  The real estate portion is pretty cut and dried.  Home Depot, Lowes, etc sells skylights, roofing materials, etc for a certain amount.  The prices might fluctuate a few dollars between stores, but it's still probably fairly easy to come up with a value for these things.  The interesting part will be how much he values his collectibles at versus how much he claims his items are worth compared to the prices those same items can be had from other sources.  

Mmm, no, you're probably not going to get his warehouse skylights at Home Depot. Those are residential retailers. 

Edited May 21, 2017 by ygogolak

[Hudson]

4 hours ago, ygogolak said:

Mmm, no, you're probably not going to get his warehouse skylights at Home Depot. Those are residential retailers. 

I think Batman1fan was just trying to make the point that construction materials (regardless of exactly where they are purchased) are relatively similar in price.  A collectible, however, can be valued significantly different by one person than by another.  Isn't this what Chuck's entire empire is built on?  The idea that he can purchase collectibles for a small fraction of what he then sells the same collectible for.  So does the insurance company get to reimburse Chuck for his "purchase price", his "replacement cost", or his "whatever Chuck wants to sell it for today cost"?  I would think it would be "replacement cost", but that too is up for debate as to what "actual replacement cost" really is.

[shadroch]

Does Chuck leave $2500 books out in the open where they could suffer such damage? What would a little water and wind do to a CGC  book?

[Hudson]

2 hours ago, shadroch said:

Does Chuck leave $2500 books out in the open where they could suffer such damage? What would a little water and wind do to a CGC  book?

That may depend on your definition of what a qualifies as a $2500 book.

Is it a book with an actual FMV of $2500 OR is it any book Chuck chooses to throw $2500 price tag on?

Edited May 21, 2017 by Hudson

[oakman29]

1 hour ago, Hudson said:

That may depend on your definition of what a qualifies as a $2500 book.

Is it a book with an actual FMV of $2500 OR is it any book Chuck chooses to throw $2500 price tag on?

Exactly! I saw a video of Chuck pricing a raw New Mutant 98 at 12K 

[ygogolak]

8 hours ago, Hudson said:

I think Batman1fan was just trying to make the point that construction materials (regardless of exactly where they are purchased) are relatively similar in price.  A collectible, however, can be valued significantly different by one person than by another.  Isn't this what Chuck's entire empire is built on?  The idea that he can purchase collectibles for a small fraction of what he then sells the same collectible for.  So does the insurance company get to reimburse Chuck for his "purchase price", his "replacement cost", or his "whatever Chuck wants to sell it for today cost"?  I would think it would be "replacement cost", but that too is up for debate as to what "actual replacement cost" really is.

Understood, the analogy still doesn't hold up. It's marganiziling a product in general. You can get a Home Depot faucet for $90 or a Kohler for $400. Insurance companies have people that they pay to know know these things. So, quoting $100k in comic book losses they are going to pay for an expert to evaluate it.

[Ken Aldred]

I wouldn't have thought that it would take too long for them to figure out there's considerable retail overpricing and insurance overvaluation going on in this case, maybe facilitated by a lot of online discussion, historical and current.

[Hamlet]

15 hours ago, Ken Aldred said:

I wouldn't have thought that it would take too long for them to figure out there's considerable retail overpricing and insurance overvaluation going on in this case, maybe facilitated by a lot of online discussion, historical and current.

I would guess that the valuation of the material was discussed when Chuck's insurance rates were set.  That may be very different than their full retail "value".

[rjpb]

On 4/27/2017 at 5:25 PM, Batman1fan said:

I think that someone posted at one time that they do that intentionally, supposedly so that their listings will pop up if you search for either comics or comic book, hence their use of comics book.  Personally, I wish there was a word you could type in to eliminate their listings from my search.

Try  -"comics book" , no one else uses that exact phrase.

[ygogolak]

On 5/22/2017 at 4:45 PM, Hamlet said:

I would guess that the valuation of the material was discussed when Chuck's insurance rates were set.  That may be very different than their full retail "value".

We did finally this morning receive our check $168,641.00 for reimbursement on the first batch of our comics and books that got soaked when our 72 skylights caved in during the storm

That's a lot of drek.

[ThothAmon]

On 1/23/2018 at 11:01 AM, ygogolak said:

We did finally this morning receive our check $168,641.00 for reimbursement on the first batch of our comics and books that got soaked when our 72 skylights caved in during the storm

That's a lot of drek.

for reimbursement on the first batch ... 

[aszumilo]

I'm sure their insurance adjuster never ordered from them, otherwise he would realize that the books he claimed were only worth about 20 bucks.