There is nothing illegal about a PSA invitational. (even with preferential treatment)
The problem starts with consumers believing grades are legally binding.
It's a service and an opinion with no legal implications.
Unfortunately this service has become a multi million dollar game changer.
None of this will hold up in court if you ask me.
If it were up to me everything should just be "authenticated" and premiums held for eye appeal. No numerical grades or subjective opinion by Joe Schmo who found a job at a TPG.
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