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T206Collector...and I'll say it here again. The concerns expressed in this post are the reasons why third party grading become such an important part of our hobby.
Many of us were burned in the 80's or earlier and only returned to the hobby with the assurances provided by PSA and later SGC. Currently, I trust SGC for all of my grading needs -- including avoiding fraudulent misrepresentations about a card's condition and unaltered status. If I ever run into an issue with SGC (as I did with PSA (over)grading (creased)trimmed cards), I will have to jump ship and go with another company -- or perhaps even discuss investing in something like what is contemplated here. But my opinion is still that SGC addresses all of my concerns in the hobby. I've never paid more for a card than I wanted to pay (that's why the potential for shill bidding has never bothered me); and I've never had to rely on SGC's money-backed guarantee.
In short, as a consumer of quality vintage sports cards, SGC satisfies all of my concerns.