How and Why the Switcheroo Scam Changed Over Time

Please watch the videos listed below for more info on the scam, and follow those creators to continue to track this story.
Links
The9.9Newsstand
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Swagglehaus
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West Coast Davengers
kzbin.infoGIIwaKKf...
CGC Boards
boards.cgccomics.com/topic/53...

[@ddougherty8266]

Okay... Great, clear to understand. Two observations... No one should be buying high-value CGC slabs at this point... in the ASM 129 instance, they got an Blue 8.0 in a Blue 9.0 case - this buyer is LUCKY... they could have gotten a book missing a coupon (a green labeled one) or a page or with color touch (a purple labeled one), in which case, that would be worth 10% of a Blue 9.0.

[@huoron4479]

This has to be deeper then 1 person! When(community) find other(s) that are doing this.. things are going to get worse for CGC. They should do a much deeper audit.

[@doghousecomics2596]

I agree, there is definitely more than one person running scams. Catching this person was great though since his was running for a while.

[@tomvu1470]

@@doghousecomics2596 or CGC for whatever reason(s) by not regrading/re-verifying high value reholder cases set themselves up for this type of scenario (eg., the Switcheroo)

[@KeyKiller74]

A simple fix would to add a cert number sticker at the back of the inner sleeve to match the blue label.

[@michaelcarmen3044]

The 129 WAS sent to CGC to get into the newest generation case. While it was a swapped book, he did have to send it back to get it out of the older case from 2012. Great video!

[@doghousecomics2596]

Thank you for the heads up! I will have to look more closely at the cases and when they were issued

[@michaelcarmen3044]

@@doghousecomics2596Very welcome. Thanks again for the video shedding more light onto this. The gen 3 case CGC introduced in 2017 or 2018 and that’s what the 9.0 129 currently lives in. The cases are thicker than the one it was in when it was graded in 2012. The label also is slightly different from the old labels.

[@easy_nator_gamer8498]

I watched that "How to" video and it's scary AF. All you need is a filed down screw-driver and a heat gun. It can literally be done in minutes.

[@Caliknows]

Sales were also listed on 'Comic Link' as well

[@williamedwards5704]

Great summary and new thoughts.

[@doghousecomics2596]

Thank you for the kind words, and thank for watching :)

[@jamisonlm3]

I'm glade your brought up the thing about grader notes. In my opinion, those should be thought of as the receipt for the grade and it's sad so many books have limited or none at all. I honestly think those should be given to every book so anyone looking at it can see exactly why it got the grade it did. The scary thing about this whole ordeal is the fact cgc unknowingly participated in it. It's good this one guy got caught, but I have to wonder how others have done it or still are. In the end, I think cgc has got to change the way they operate. Either way, pandoras box has been opened.

[@tshew1]

There is zero market accountability, zero industry standards and no independent oversight. They offer a subjective opinion and a piece of plastic that are both subject to scepticism. Yet, somehow they get away with charging more for these services, based on the age and perceived market value (unrealized) of the collectible, which they do not own. This public ‘announcement’ is nothing more than deflection and a corporation looking to limit liability in a flawed process and a subjective opinion that is now in the spotlight. Questionable (at best) business practices and ethics, IMO. Buyers beware, fools will continue to part with their money.

[@StreetPreacherr]

The trouble is that their service has such a SEROIUS INFLUENCE on the RESALE value of these 'collectors items'... I mean, if COLLECTORS are just sending their own books to be graded and keeping the slabs in their collections, then there's no problem! lol

[@richardbehrle1496]

I’ve been collecting for almost 50 years (wow, I can’t believe I said that) CGC to me has always been, in a big way, A matter of opinion. Although I have a few books slabbed, it’s never been my goal to slab everything! Ya see, I like looking through books and reading them. When I have a really unique book that I want to sell, I might get it slabbed but now a days that’s not going to happen considering the amount of time it takes. I haven’t used CGC in years. I’m also going to have to look more carefully at what’s there when I do purchase a slabbed book.

[@kenr4957]

Ty

[@Omnivorous1One]

I would bet money that this guy was not the first/only person swapping out books & the few hundred books CGC quoted is much larger than that.

[@jordand1554]

RIP = ALL graded comics. Guaranteed beyond this scammer people will now try to swap out books and resub the raw copies. It’s too easy to do with no policing. Someone says “my collection is legit” there is no way to eliminate the doubt which will way on demand and price IMO.

[@tshew1]

How does one certificate number appear in two encapsulated cases, regardless of the book that accompanies? More than 1 person involved for sure!

[@user-jx2fu2gi9r]

A simple fix is regrading.

[@charlielarson2407]

That's why you buy in person and not off eBay I've been saying it collector killer and this a big one

[@ddougherty8266]

TWO Questions for DEALERS to think about... If you are still selling CGC slabs, are you contending that your slabs are "good", or are you telling buyers to "do your due diligence, I'm not guaranteeing that the CGC label color or the grade number are accurate - it's the buyer's job to do their due diligence". NOT trying to be snarky - but would you be willing to guarantee the book in the slab is legit? If so, then, if I buy a CGC slab from you that you bought from someone else, would you allow me to send it to CGC for cracking and re-grading, and if it doesn't come back with the same label with a grade that's VERY close to the same grade, Would you take the book back, and refund me? I doubt that dealers will agree to this (for the same reason I'm not going to buy their CGC slabs in the first place - the grade on the slab is simply no longer reliable). Is Heritage going to guarantee that the CGC slabs they sell have not been had the comic swapped out? Has someone asked them? What does their contract say? A related question.... Are dealers now holding off buying CGC Hulk 181 slabs from collectors? They know for a fact, that a blue label CGC slab could be missing a Marvel Value Stamp - right? They can use a magnifying glass all they want... but are they going to take a chance that the book inside is worth 10 cents on the dollar on what they pay? Hopefully, dealers who answer these questions, honestly to themselves, can understand why many or most collectors aren't going to pay over a hundred dollars for a CGC slab at this time, when the CGC slab itself is now potentially hiding a defect that reduces the value of the comic by 90% - and the swap is undetectable. And because the CGC slabs are so vulnerable - once the new slab design comes out, ALL existing mid-value, and higher CGC slabs are going to HAVE to be re-slabbed to be saleable - at a cost of $100 to perhaps $1000 per slab for the big books, at which point, the buyer may find out that they get back a CGC purple label, or an 8.5 when they paid for a 9.6, where they will have lost 90% of the value they paid. In my opinion, neither dealers nor customers can trust any CGC slabs that are for sale, or any that we bought, and there is no way to "do" due diligence. The only CGC slabs that I am now sure of are ones where I sent the book in raw, and those are trustworthy ONLY to me - no one else can trust them, and I can't trust anyone else's - because anyone could be forgetful or fibbing as to how they got their CGC slabs. If the book is NOT in a CGC slab... I would be able to spot restoration, missing coupons, color touch, married pages - at LEAST as well as the people at CGC. CGC slabs don't guarantee anything - all they do now is HIDE potential flaws. All slabs are going to have to be cracked and re-slabbed into what will be a more tamper proof slab - until then (which is at least a year away) collectors and dealers are going to stop buying CGC slabs. I'd buy a raw book from a reputable dealer before I'd buy a CGC slab.

[@decojoker1]

Maybe it will get where cgc gets to regrade all the custom label books for dollars, not free. maybe the custom books will be suspect.

[@ddougherty8266]

Where CGC could be directly liable - is IF they've known about the vulnerability and the fact that their cases have been easy to open for quite some time... IF that's the case, and yet they were still "selling" the reliability of the slab and the grade - well then that's a business practice that could open them up to a class action suit from those who used their service, after the point at which CGC had been made aware that their slabs were so ineffective at foiling scammers. You can't sell door locks that a child could pick and sell them as tamper-resistant... once you've become aware that a child can open them, you gotta stop saying that they're effective. This is the next shoe to drop.

[@StreetPreacherr]

Thing is there AREN'T any 'official rules' regarding how the 'comic grading industry' operates... There's no universally recognized 'training' or 'accreditation' courses required to become a 'professional' comic grader. These companies are all essentially just making up rules as they go along.

[@mikelosi8168]

Scammers have taken the Certified Guarantee out of CGC....leaving just the C (company). What good is that? The only books I can truly consider guaranteed now are the ones I sent in myself. Not that this helps anyone I try to sell them to.

[@mihkeldunner2358]

there should be a recall of all slabs. cgc is going to be hurting for a bit.

[@megamus9744]

I think if CGC starts embossing the number on the inner sleeve this might help. As for cracking and replacing without CGC, well examining the cases in person. I would doubt any online sales that you would be questioning. This person has put these books out into the community and the current seller may not be aware of the deception. It saddens me to see this happen but now it brings questions to many many books. It sucks that someone would potentially damage the market and put into question every book you see.....

[@doghousecomics2596]

For sure. I know I now question books that I have seen in the past that looked horribly overgraded to me. Multiply that out across the entire market and there is potential for some price drops.

[@tshew1]

These companies should imbed into the edge of the inner well, the certificate number, grade and date graded. They should also stop charging tiered pricing. One price for their (same) service. That would eliminate the concept of preferred / choice grading. I would prefer they make their money off volume of sales, not arms-length deals.

[@drmidnight680-kz2le]

I don't think the CGC case is collectable, only the book is collectable.So no problem it just bad for the market witch is made up of nothing but scammers anyways.

[@mikebernardino6826]

I truly believe that most of the blame should fall on CGC. I think it shows the lack of security levels at CGC, seems like they were just blindly reholdering book just to get them out.

[@thomaspalmer6453]

I wouldn’t be as quick to blame CGC; however; it definitely deserves criticism. It’s like blaming the government for counterfeiting. CGC needs to proactively take steps to make sure people can’t pull scams like this again.

[@user-jx2fu2gi9r]

The government doesn’t take fraudulent money and reconfirm it to put back in circulation. They look at it and destroy it. Big difference. Now if they were sent fraudulent money and didn’t check it before putting it into circulation again, it’s 100% their fault.

[@charlesdelgado234]

Nice breakdown. Just subscribed....What do you think about Marvel licensed NFT comic books on Veve?

[@doghousecomics2596]

Thank you for subscribing! I know nothing about Marvel NFT comic books so I did a quick google search and... nope, not for me.

[@comicbossone2411]

Thank you for not downplaying this apocalyptic situation. You obviously have skin in the graded comics game so I appreciate the honesty in your words because I’m seeing a few guys putting their investments firsts and trying to downplay this for obvious reasons. I think people should press the pause button on buying any graded books for the next couple of months. Words from cgc aren’t going to cut it, we need new physical countermeasures.

[@thomaspalmer6453]

This is not an apocalyptic situation for CGC. However, it’s definitely a problem that CGC needs to deal with effectively.

[@comicbossone2411]

@@thomaspalmer6453 lol… ok. Except the entire principle they are built on is in the toilet. There’s very little they can do. Seeing them get plaudits for words, words will mean nothing when the news filters through to the wider market and the values begin to narrow between raw and graded. Compensating a few individuals won’t reassure to the extent it’s worth paying more for over raw. Introducing a new countermeasure is what is needed to address going forward but even that won’t do squat to address the current existing millions of slabs that will for the next 10 years plus constitute the majority of the market. Let it sink in first before telling me it’s not that bad. It’s as bad as it gets… when you give it the thought it deserves.

[@brokensystembrokentrust5047]

Stop getting comics graded!

[@doghousecomics2596]

People did not stop driving cars after the Ford Pinto stuff led to deaths, and since there are fewer fireballs involved with slabbed comics I doubt people will stop slabbing them because of this scam. Thank you for stopping by and leaving a comment :)

[@backroom12]

That’s like saying stop using money because there are counterfeit bills out there ! Same exact thing . If there’s a scam to be had in absolutely anything , someone will find a way to do it .

[@brokensystembrokentrust5047]

@@backroom12 Oh I dont care about that, I think comics getting graded is horrible, how are people supposed to enjoy a comic when its encased in plastic that you can never open

[@brokensystembrokentrust5047]

@@doghousecomics2596 No I think Comics should stop being graded in general. how can you read a comic when its packed in lucite

[@AussieToyHunter]

I still can't get over someone had the patience to crack open slabs