Ethical Concerns Regarding Heritage?

Exhibitman · #1 12-22-2021, 07:51 AM

We've had this same sort of behavior in the past. Think 1980, 1989-94, etc. Remember people 'day trading' stack of 100 Upper Deck RCs and calling us vintage guys a bunch of backwards-looking luddites? Or when PSA was starting up and made up the prices in the SMR while advertising it as truth (see my article in VCBC exposing it) or graded Mastro's Frankencard Wagner (read "The Card"). A bedrock of fraud and deception underlays most of this hobby. The difference I see between then and now is that organized money is coming into this. This is not just a pack of social influencing assclowns pumping and dumping some basketball cards, this is a well-organized, well-funded pack of assclowns reorganizing the entire hobby to maximize their rake at every level from card acquisition to graded card disposition. The 'dump' will come when they take these companies public again. Until that point, the 'market' is going to go up, led by PSA and Goldin and the money men like the ones at Blackstone who bought out Certified Collectibles Group. Or to quote one of their idols:

Gordon Gekko: ...what I do, stock and real estate speculation. It's bullshit. ... I create nothing. I own. We make the rules, pal. The news, war, peace, famine, upheaval, the price per paper clip. We pick that rabbit out of the hat while everybody sits out there wondering how the hell we did it.

SAllen2556 · #2 12-22-2021, 09:01 AM

I read these threads about fraud and I always come back to the same thought: The collectibles industry - whether it�s sports cards or video games - is an industry that runs on anarchy. There is no governing body. You can use the term laissez faire but that implies self-regulation. This forum constitutes the closest attempt at a regulatory body, and to its credit, in my opinion, has made a difference at times in pointing out fraud and abuse. But has it made a significant difference? From all the blatant fraud pointed out on the Blowout forum, has anyone suffered any penalty for their fraudulent behavior?

There are basically no enforceable laws regulating the industry. There is no licensing or education requirement to participate in the industry. Anyone can call themselves a sports card dealer; anyone can open an auction house; and anyone can start their own grading company. The enticements for bad behavior have always far outweighed the penalties. What percent of criminals in this industry are ever actually caught and punished? I bet it�s way fewer than 1%.

I�ve often wondered why there isn�t some sort of national board of sports card dealers and/or auction houses who could at least attempt to self-govern the industry a bit. If there was more confidence in the industry wouldn't everyone make more money? The obvious answer is that dealers and auction houses do not see it in their best interests to self-regulate. So, let the anarchy continue!

Johnny630 · #3 12-22-2021, 09:48 AM

Quote:

Originally Posted by Exhibitman

We've had this same sort of behavior in the past. Think 1980, 1989-94, etc. Remember people 'day trading' stack of 100 Upper Deck RCs and calling us vintage guys a bunch of backwards-looking luddites? Or when PSA was starting up and made up the prices in the SMR while advertising it as truth (see my article in VCBC exposing it) or graded Mastro's Frankencard Wagner (read "The Card"). A bedrock of fraud and deception underlays most of this hobby. The difference I see between then and now is that organized money is coming into this. This is not just a pack of social influencing assclowns pumping and dumping some basketball cards, this is a well-organized, well-funded pack of assclowns reorganizing the entire hobby to maximize their rake at every level from card acquisition to graded card disposition. The 'dump' will come when they take these companies public again. Until that point, the 'market' is going to go up, led by PSA and Goldin and the money men like the ones at Blackstone who bought out Certified Collectibles Group. Or to quote one of their idols:

Gordon Gekko: ...what I do, stock and real estate speculation. It's bullshit. ... I create nothing. I own. We make the rules, pal. The news, war, peace, famine, upheaval, the price per paper clip. We pick that rabbit out of the hat while everybody sits out there wondering how the hell we did it.

Spot On Adam

MattyC · #4 12-22-2021, 10:10 AM

Amen. The conflicts of interest surrounding the unholy alliance of PSA, Goldin, Wata� it�s a joke. And the cadre behind it will laugh all the way to the bank. We�re just the grist in their profit mill.

Fred · #5 12-22-2021, 10:17 AM

Ostrich UP when it comes to hobby fraud!

Ostrich Up_1.jpg

Ostrich Up_3.jpg

Johnny630 · #6 12-22-2021, 11:09 AM

I don�t hate on them I just adjust. A lot of money was out there to be made on some of my collection so I sold and did very very well, I don�t regret it one min. I�ve moved on with more money in my pocket then I could have ever thought.
I still have plenty and I�m very happy with riding it out and being patient.

Exhibitman · #7 12-22-2021, 03:00 PM

My only real frustration is being short a few cards I delayed buying because they were so readily available. Maybe if there's a big ol' crash I can get them. Because

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Ty Cobb check help - any concerns?	MGHPro	Autograph Forum- Primarily Sports	9	04-30-2019 04:22 PM
Hmmmm. I have some concerns with the listings.....	Brian Van Horn	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	18	06-14-2015 04:35 PM
Which alleged practice concerns you the most?	Peter_Spaeth	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	25	08-17-2009 02:54 PM
Is this ethical???	Archive	Hockey, Olympic, Auto Racing And All Other Cards	3	03-30-2009 05:59 PM
HOF Election Concerns	Archive	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	0	12-09-2007 11:51 PM