James,

I certainly agree that purchasing a chip, or any item sight unseen has some pitfalls. One of them is in fact as you point out . . . two people may see one thing differently.

And one advantage of slabbing would be that this would no longer be an issue, but only slabbed chips were graded by the same people and collectors universally accepted there grade as truth.

But that is a truism. If we all agree that by definition the slabber is right, then the slabber will always be right.

However just as Joe and Bob may see the chip differently, so may Joe, Bob and Fred (the slabber). So getting Fred to certify that the chip is a certain grade does not give one any more security than relying on Joe.

Furthermore this is even more excerbated when the slabber refuses to even tell what system they use to grade a chip. Sure they tell us to convert a rating from theres to yours, but that inidcates that they are not using your system. So why would you think that there grade is any more reliable when they won't even tell you how they calculate it?

A rather simple challenge has been proposed to the slabbers. It involved their slabbing a number of chips and then having the slabbs removed and their reslabbing the chips and comparing the original grades to the new grades. Why do they not take us up on this challenge. Because they know that there grades are subjective and they will not regrade the same chips the same way twice.

We all know that grading is subjective and Joe Bob and fred may see things different ways at different times. One of the lies of slabbing is that it is an objective grade from a disinterested third party.

I have already pointed out that it is not objective. Now I will point out that it is not disinterested. The slabbing companies exist to make a profit. That is good. Profit is good. Where does profit come from. It comes from the customers. Who are the customers of a slabbing company? It is the guy who sends in chips to be slabbed. He is the the slabber gets money from, not the guy down the line who buys the slabbed chip in reliance on the slabber.

Now what do you suppose would happen if the slabbers kept giving lower than expected grades to chips sent into them by dealers? The dealers obviously would stop sending them chips to slab. If that were to happen then the slabber would not make money. Therefore the slabber has an interest keeping grades up. This is not a disinterested third party grader.

So how can someone protect themselves from buying a chip which is not as described? First and foremost ask questions. I understand that sometimes this won't keep misunderstandings or intentional wrongdoings from occuring, but communication is the key to solving many problems.

Second when possible deal with CC>CC members. Why? Because the CC>CC code of ethics includes a 10 day return period unless the deal specifically states that there is no return period.

I understand that sometimes you have to deal with non-members. One thing you can do is use an escrow service (the expense involved in this is usually not more than the expense of slabbing a chip.) Another thing you might be able to do is have the chip examined by a collector who you know and trust who lives in the area of the seller.

Yes people get ripped off on Ebay. People also get ripped off in local stores. Slabbing will not stop that. In fact it creates a layer of insulation for a dishonest seller. Even if the seller knows of a defect he can rely on the "grade" assigned by the slabber when he fails to disclose the defect. In addition the presence of the slab makes it more difficult for the buyer to detect certain defects.

Although I do not care for the grading system you propose in your book, I do think that the chapter in your book about grading does something very important. It lays out the various factors that one should consider when describing the condition of a chip.