PSA Response from President Steve Sloan

[Peter_Spaeth]

Originally Posted by oldjudge

Of course it is true. I think all TPGs are equally competent (or incompetent). In a way, PSA is a victim of their own success. If SGC cards were trading at a premium in the market I’m sure the majority of the doctored cards would have been submitted to and graded by them.

Jay maybe so, it's a hard hypothetical to test.

[JeremyW]

Originally Posted by Peter_Spaeth

Jay maybe so, it's a hard hypothetical to test.

It would be fun to watch SGC cards start to command higher prices than PSA, but that won't happen any time soon. It is possible though.

[scooter729]

Originally Posted by JeremyW

It would be fun to watch SGC cards start to command higher prices than PSA, but that won't happen any time soon. It is possible though.

Or maybe old-style PSA flips will become more in vogue, since those were submitted over 10 years ago before this was going on?

[Peter_Spaeth]

Originally Posted by scooter729

Or maybe old-style PSA flips will become more in vogue, since those were submitted over 10 years ago before this was going on?

Who says it wasn't?

[dwinters]

Shouldn’t this type of statement be released by the ceo through an official pr?

[Exhibitman]

I think we need to call in the big gun to deal with this:



First, take a big step back... and literally, F$$$ YOUR OWN FACE! I don't know what kind of TPG bull**t power play you're trying to pull here, but sports cards is my hobby. So whatever you're thinking, you'd better think again! Otherwise I'm gonna have to head down there and I will rain down an un-Godly f****ng firestorm upon you! You're gonna have to call the f******g United Nations and get a f******g binding resolution to keep me from f****g destroying you. I'm talking scorched earth, motherf***r! I will massacre you! I WILL F*** YOU UP!

[Bram99]

Originally Posted by Exhibitman

I think we need to call in the big gun to deal with this:



First, take a big step back... and literally, F$$$ YOUR OWN FACE! I don't know what kind of TPG bull**t power play you're trying to pull here, but sports cards is my hobby. So whatever you're thinking, you'd better think again! Otherwise I'm gonna have to head down there and I will rain down an un-Godly f****ng firestorm upon you! You're gonna have to call the f******g United Nations and get a f******g binding resolution to keep me from f****g destroying you. I'm talking scorched earth, motherf***r! I will massacre you! I WILL F*** YOU UP!

I like the concept but who is this?

[Goudey77]

Interesting point brought up. Will this be a loophole for PSA’s guarantee?

[vintagetoppsguy]

Originally Posted by Goudey77

Interesting point brought up. Will this be a loophole for PSA’s guarantee?

They're not the ones who trimmed it? What kind of excuse is that? They could use that excuse for all wrong doing. "We weren't the ones who re-colored it." "We weren't the ones who rebuilt the corners" "We weren't the ones that chemically cleaned it." How lame! Then what does their guarantee cover?

[Peter_Spaeth]

I am sure the guarantee does not require the owner to exhaust other remedies first. It's an odd statement by Sloan in that regard.

[benjulmag]

It wouldn't surprise me if PSA is just warming up with defenses they will use to try to avoid having to make good on the guarantee. Mounting publicity about the scandal along with new revelations about altered cards seem to be daily occurrences. Guarantee claims likely will continue to mount. Figuring out how to deal with them may turn into an existential issue for PSA.

[swarmee]

Originally Posted by vintagetoppsguy

They're not the ones who trimmed it? What kind of excuse is that? They could use that excuse for all wrong doing. "We weren't the ones who re-colored it." "We weren't the ones who rebuilt the corners" "We weren't the ones that chemically cleaned it." How lame! Then what does their guarantee cover?

If this guy was burned in the WIWAG scandal, which I had to look up because I've only been back into cards/grading for five years, it makes some sense.

WIWAG was accused of busting the holders, swapping out cards with lower grade ones, and resealing. So PSA according to the terms of their current Grade Guarantee would not be liable because the holders have been cracked. Not sure if that was the same-worded guarantee from 15 years ago or not, or if they added that the holders had to be undamaged.

Should PSA really be on the hook for the Mexico guy and the craigslist guys who are cracking/resealing cases? Shouldn't the customer inspect the case to make sure it hasn't been tampered with? I understand it.

[benjulmag]

Originally Posted by swarmee

If this guy was burned in the WIWAG scandal, which I had to look up because I've only been back into cards/grading for five years, it makes some sense.

WIWAG was accused of busting the holders, swapping out cards with lower grade ones, and resealing. So PSA according to the terms of their current Grade Guarantee would not be liable because the holders have been cracked. Not sure if that was the same-worded guarantee from 15 years ago or not, or if they added that the holders had to be undamaged.

Should PSA really be on the hook for the Mexico guy and the craigslist guys who are cracking/resealing cases? Shouldn't the customer inspect the case to make sure it hasn't been tampered with? I understand it.

I don't disagree that PSA should not be on the hook for an altered card inserted in a cracked/resealed case. PSA's statement however, as I read it, doesn't refer to that situation when it says to first go back to the seller. I wonder if they are raising the privity argument, or at least trying to keep that defense viable should the matter become the subject of litigation.

As has been discussed in previous threads, their warranty would seem to be of the type to run with the card, and therefore not to require the person invoking it to be the person who originally submitted it for grading. I would not be surprised if PSA does try to raise the privity issue if they perceive guarantee claims to be an existential issue. And probably too we can count on statute of limitation defenses to be thrown in as well.