Quote:
Originally Posted by Promethius88
Who said that outed cards have/will hold their value? I've read where some people believe that PSA cards, in general, will hold their value but nowhere did I read that outed cars would..... except for the T206 Wagner which is an anomaly in and of itself.
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Considering they are representatives of the PSA's grading abilities and what currently resides in PSA holders, the outed cards and their values are representatives of the values of cards currently in PSA holders/labels.
If, for a completely arbitrary example, 50 percent of PSA cards are misgraded, you don't calculate the value of cards per label grade by removing the misgraded cards and calculating only the cards that are correctly graded, but calculating the value of all the cards. The margin of error in grading and authenticating isn't removed from financial calculations but an integral part of it.
As an admittedly very extreme example, you don't calculate the values of autographs with Coaches Corners COAs by calculating the values as if they were correctly authenticated or only by the ones they got correct. You calculate the values based on what they COAed and their worth. Thus, the misauthenticated PSA cards and the realization of the true market value are market examples of the values of cards in PSA holders and at that label grade.
If representative of the accuracy/reliability/true identities and grades of the cards currently in PSA holders (and I'll let others on this and other boards debate that point), a "$1000" PSA 9 card that turns out the be altered and is really worth $30 that is an example or data point where the PSA is worth $30. Many $1000 PSA9 cards out there and currently being bought and sold are actually worth $30, so you cannot say the average value of a PSA 9 is $1000. And as it's realized that more and more PSA9 cards out there are really worth $30, the known value of a PSA9 moves further and further down from the $1,000 and closer to the $30.
If PSA can get accurate at grading and alteration detection, then this will change. And maybe they will. But if they can't or don't or won't, the mistakes and BO outed cards are to be calculated into the market values of cards that are currently in PSA holders at a certain labeled grade.
In fact, it's right now a nonsensical exercise on its face to try to calculate the condition value of cards in PSA holders because no one knows what are the condition grades of the cards. One certainly can't go by the number on the labels. One might as well try to calculate the condition values of cards in black boxes. However, it is a logically objective, financial and mathematical fact that the average value of the cards themselves are worth less than the values of the grades on the labels. That we know with certainty.