I posted this in a similar thread on the auto side, but feel it is relevant here as well.
The problem, and my main bone of contention with TPAs in my many rants on Net54 and other places, is that people placed them too high on a pedestal. The public took TPA OPINIONS, and made them definitive confirmations of truth. I saw an interview of a panel of autograph experts, from a number of years ago, where Kevin Keating, who was one of the panel, stated that he wished what PSA would give were called a "Letter of Opinion" rather than a "Letter of Authenticity" for this exact reason. This blind faith in TPAs has given rise to the lowering of our guard as to what we know vs what we want to believe. Due diligence was now something the TPAs were supposed to do for us. Unfortunately, it would be impossible for them to process the volume of autos they do and still take the time to do the legwork Manny did to open up this can of worms.
Now the TPAs did nothing to stop people from taking their opinions as fact. Why would they? The more people trust them, the more business they get.(which of course leads to higher volume which means less time spent per auto, This also means less time to do any sort of investigation like has been done with the T206s. This also means that less skilled and experienced people would need to be vetting the autos in order to meet the time guidelines for submission levels.)
The auction houses also share responsibility as they have now outsourced much of their due diligence to TPAs, for both autos and cards. Why wouldn't they? They get to have clean hands from any disputes as they are not responsible for saying the autos are real. By pushing more and more on the TPA, this furthers their reputation of reliability which increases their business volume, which makes all the problems I noted before that much worse.
No solution will satisfy everyone is the reality. TPAs have good and bad things about them. IMO, The best way to collect autos is to 1) due your own due diligence. Start by being a skeptic and demand the auto be proven real rather than the other way. 2) Develop a network of people whose opinion you trust to help you see things without emotion. 3) Understand what level of risk you are willing to accept. If your answer is none, then you should not collect anything at all. Save your money and go on vacations around the world. Anywhere demand and money meet, criminals will look to take advantage. It is true in any collectible. 4)If it's too good to be true it probably is.
|