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November 07, 2006

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Sep02Charlie Hey Walt, you would think that Dick Cheney would have too much to lose if he ever admitted to war cmeirs and yet there it is in his new book because he knows no will prosecute him… all because of the company he keeps.CGC is a finite business. There are only so many comics in world and only so many collectors. On top of that, the back issue market is contracting. So, picture if you will a python that has swallowed a pig. Once all those comics have been graded, how do they sustain themselves as a business? One way is to re-grade books. Enter: PRESSING. Collectors send books to Matt or Joe, Matt and Joe sends to CGC, CGC bumps it up a notch… voila, everyone is happy cause they're all making money. However, if CGC maintains the same grade, or worse, bumps it down, collectors will stop sending in books, Matts has less business, and CGC loses as well. The beauty of this model is that I'm convinced that many pressed books are being pressed multiple times simply because pressing is not detectable.Now, I'm not sure how many books are out there so I have no idea if the pig is still at the front, middle, or is ready to be pooped out of the python but I suspect it will go on for a while longer till the market hits critical mass. Of course there is a limit to this cycle as well… a 4.0 can't be made into a 9.0 even after a dozen pressings. I mean. a tear is a tear… but in matters of subjectivity, what real difference is there between a 9.2 and a 9.4, especially after multiple pressings. On the back of each CGC label they admit that their grading is opinion only. So, they are covered with the fine print and with no one to prosecute due to the subjective nature of grading, CGC actually has nothing to lose.I'm soooo jealous I didn't think of it myself… it ingenious!Do guys like Doug Schmell, Vincent Zurzolo or Josh Nathanson get escorted to the head of the line? Well… lets just say it is what it is. Okay, time to start the long weekend… woo hoo!

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