Play Ball! *PSA Redefines Pre War

[calvindog]

This mistake is really a stunner. So is CLCT's stock price this year:

https://finance.yahoo.com/chart/CLCT...FuZ2UiOm51bGx9

Only underperforming the S&P by 51% in five months. Sort of like the quality of their service.

[vintagetoppsguy]

Originally Posted by calvindog

This mistake is really a stunner. So is CLCT's stock price this year:

https://finance.yahoo.com/chart/CLCT...FuZ2UiOm51bGx9

Only underperforming the S&P by 51% in five months. Sort of like the quality of their service.

Maybe people are finally starting to wise up.

[calvindog]

Originally Posted by vintagetoppsguy

Maybe people are finally starting to wise up.

It's always stunned me that a public company like CLCT which is run so poorly could survive without the people in charge losing their heads. Huge backlogs in grading -- which only serve to lower revenue -- and crappy customer service, driving more revenue away. They have a virtual monopoly in card grading due to their set registry but they have no problem turning huge amounts of revenue away due to their inefficiency and incompetence. And what do you know? The stock price is in the shitter. How'd you like to be a large shareholder and find this information out?

[Peter_Spaeth]

According to this, discussing the latest quarter, any weakness is in coins, not cards.

Our primary division showed a decline of 16% in our coin business, but an increase of 23% in our trading card and autograph business from the previous year. The U.S. coin business continued to experience soft market conditions in Q3, which impacted the PCGS Vintage, show and bulk services once again.

https://seekingalpha.com/article/417...all-transcript

[calvindog]

Originally Posted by Peter_Spaeth

According to this, discussing the latest quarter, any weakness is in coins, not cards.

Our primary division showed a decline of 16% in our coin business, but an increase of 23% in our trading card and autograph business from the previous year. The U.S. coin business continued to experience soft market conditions in Q3, which impacted the PCGS Vintage, show and bulk services once again.

https://seekingalpha.com/article/417...all-transcript

Which surely allows them all the cover they need to continue their crappy service with cards. Shareholders are fooled into thinking CLCT is maximizing the card part of their business when nothing could be further from the truth.

[Rookiemonster]

Just a bit outside .............

[Peter_Spaeth]

Originally Posted by calvindog

Which surely allows them all the cover they need to continue their crappy service with cards. Shareholders are fooled into thinking CLCT is maximizing the card part of their business when nothing could be further from the truth.

So where are all these lost revenues you posit going to? The people I know who submit regularly to PSA -- not that it's a huge number -- are still doing so rather than giving their business to another TPG.

[calvindog]

Originally Posted by Peter_Spaeth

So where are all these lost revenues you posit going to? The people I know who submit regularly to PSA -- not that it's a huge number -- are still doing so rather than giving their business to another TPG.

I would presume other TPG. I don't know many people at all who submit to PSA anymore -- you can't get your cards back for months. I was at one show recently and a very valuable football card in an SGC holder was sitting at an auction company's booth. Somehow we began talking about how he had gotten the card raw and needed to get it graded quickly for his auction. But because PSA can't return cards for weeks or months, he sent it into SGC instead. Whatever the numbers PSA is doing now they are doing significantly less than they could if they were competent.

I have entire sets of 50s near mint cards that I'd send in to PSA at some point to be graded but won't because it's not worth waiting six months for their return. I'm sure plenty of people feel the same.

[Rich Klein]

Originally Posted by calvindog

Huge backlogs in grading -- which only serve to lower revenue -- and crappy customer service, driving more revenue away.

Just as an FYI, Beckett also has an huge backlog. Any non-guaranteed (more than 10 business days) service will take months to be completed. In other words, if you gave BGS an Ohtani card at the beginning of the season without an guarantee, you will not get it back till After the season concludes.

While aggravating for the service users, to me this is a sign that at least TPG is a very thriving business. I'm just curious if SGC has some advertising up their sleeve to get more business and I would wager they are not nearly as backlogged.

Rich

[Cozumeleno]

I just dropped off ten cards to SGC at the Pittsburgh show last weekend. Showed up as logged in their system this week with the submittal date of 5/19 on it. I had 10-day service on them so I'll see if that holds. But in talking to one of the reps, they were not experiencing any delays of consequence.

Originally Posted by Rich Klein

Just as an FYI, Beckett also has an huge backlog. Any non-guaranteed (more than 10 business days) service will take months to be completed. In other words, if you gave BGS an Ohtani card at the beginning of the season without an guarantee, you will not get it back till After the season concludes.

While aggravating for the service users, to me this is a sign that at least TPG is a very thriving business. I'm just curious if SGC has some advertising up their sleeve to get more business and I would wager they are not nearly as backlogged.

Rich