Category Archives for Sports Card News

Upper Deck Settles With IRS For $20+ Million

It appears Upper Deck may have settled their long standing case with the United States Tax Court in April 2018 by agreeing to pony up $20,172,868.80 plus interest to the IRS. 

Upper Deck has already made a $17.5M payment on March 20, 2018.

The case began in 2012 and covers the tax years 2000-2004.

Upper Deck may have gotten off light. The US Tax Court claims in previous court documents that there were “combined deficiencies exceeding $160 million at Upper Deck from 2000-2004."

More good news for Upper Deck is that there is no penalty due pursuant to I.R.C. § 6663 for the taxable year 2004. Violating this could of added an additional 75% to what U.D. would owe!

Read More About the Case:

Upper Deck Working Towards Settlement With IRS

Upper Deck to IRS: Industry Trolls Hurting Our Business!

Law of Cards: Cardboard Connection CEO Violates Probation

Ooops he did it again?! Cardboard Connection CEO Mike Smeth violated his probation and was sentenced to 30 days in jail on May 1, 2018. 

Smeth is currently serving 6 years probation after he plead guilty to Terroristic Threats and Aggravated Assault when he threatened to kill multiple people with a gun in 2016.

Smeth was arrested on February 25, 2018 on the following charges:
Possession of a firearm by First Offender Probationer
Possession of Schedule II Controlled Substance
Possession of Schedule I Controlled Substance
Possession of MDMA (Ecstasy drug)
Possession of Firearm During Commission of a Felony

UPDATE: NEW FELONY CHARGES AGAINST SMETH PUTS CARDBOARD CONNECTION AT RISK

The Cardboard Connection CEO is starting to have a long checklist of charges levied against him. 

In addition to the latest Terroristic Threats/Aggraveated Assuaut issue, he's been charged or accused over the years of Disorderly Conduct, Theft, Anabolic Steroid use, Meth use, hacking Panini's Tracy Hackler & former business partners.

More Smeth Coverage:

Show #195 Cardboardconnection.com “CEO” Mike Smeth Scandal

Cardboard Connection “CEO” Mike Smeth Scandal UPDATE

Cardboard Connection Website in Jeopardy


Mike Smeth

Canada Group Breaker CAUGHT Stealing

Facebook Group Breaker, Stefan Otto, is getting ROASTED across the card community for allegedly stealing a card during a break. 

You can watch for yourself here, with commentary from someone who recorded the action. The theft occurs at around 1:04 in the video.

His daughter is in the room as he pulls off the heist. Way to teach 'em how to scam at an early age. 

Otto is supposedly a known scammer in the card community. I don't know about you, I'd barely trust this cat to give me an Uber ride.

Read about other Group Break Scandals:

DnT Sports Cards: Group Break Scam - Brandon Cooks #/99

Curveball Sports Cards Bowman Group Break SCAM

Josh Cade - Card Father X - Interview

BallQube’s MAP Policy

BallQube has announced a new MAP policy and are asking e-commerce re sellers to abide with.

This MAP policy will apply to any and all online marketplaces or auction services including Amazon, eBay, Jet, etc. The BallQube MAP Policy took effect April 13, 2018.

BallQube Products For Sale on eBay

Any e-commerce reseller of BallQube products who refuses to abide by the MAP policy will no longer be allowed to sell BallQube products. BallQube feels such a consequence is necessary to protect the resellers willing to comply with the MAP policy.

In addition to the new pricing policy, all BallQube football and basketball displays must ship in single shipper boxes. Sellers have a grace period of three months from 4/13/2018 to comply with this new policy.

BallQube was getting roasted on some Amazon reviews and feels the new single shipper box policy will help prevent damage.

BallQube Map Pricing Guide

2017 Topps Transcendent Party Profit/Loss

Can you make money going to the the Topps Transcendent Party? For the second year in a row I came out ahead, even with the cost of the pass doubling.

Total Sales: $6,884.77
Cost of Pass: $5,000
Total Fees: $979.33
Flight Cost: Southwest Points
Hotel: $0
Transportation: $50
Food: $15

Total Profit: $840.44

Last Years Party Re-Cap (Updated)

Full list of Cards Sold

What I have left:

21 of the 87 Aaron Judge RC Cards #/87
Hank Aaron Autograph Book Card
Hank Aaron Autograph Card #/25
Aaron Judge 1/1 RC Patch Card
18 other "1/1" Topps cards

Making money isn't the only reason to attend. Here are some other highlights and low lights. 

The Sweat

Topps does a raffle during the party where you can hit or miss pretty big. Everyone in the room wins, and a few like myself, won twice. 

I live in Las Vegas now, the rush of waiting for your raffle ticket to get pulled is better than any gambling I've done in Sin City. 

Epic Disaster

Topps pulls a Panini.

Several autographed cards that were inserted into the exclusive silver party packs at the 2017 Topps Transcendent Party were mislabeled as being 1-of-1. You can see a checklist here.

I pulled two of the three Opening Day Andrew Benintendi cards in my silver packs.

Tweaking

The 6th most popular story on Sports Card Radio last year was: Blowout Cards HACKED: Collectors Hit For $100K +

I like to keep an arms length between me and most people in the hobby. If I was friends with Tom Fish and his website got hacked would I have written an article about it? Probably not. 

The Topps Transcendent Party puts people in a small room. While some may shy from awkward situations, in the card world I enjoy them. 

Hank Aaron

One of the highlights of the trip was hearing Hank Aaron talk. He appeared genuinely happy to be there. He seemed bitter about the money players made today. And I loved every time he mentioned it. 

It was like Hank still had a chip on his shoulder when it comes to baseball. It's probably what made him great. 

Make Money Podcasting

After the party I recorded a podcast with group breakers MojoBreak & Layton Sports Cards. Not only was the trip profitable but I got free content for the website.

R-Rated: #30: MojoBreak & Layton Sports Card Interview