GameStop is buying PSA graded cards
 

Wow, sports cards as well. Not just pokemon cards.

LOL, will be worse than selling to Rick on Pawn Stars

"One store told us that customers who opt for a store credit will receive 40% more for their cards than those who opt to take a gift card that can be used anywhere."

Ok, party is over.

It's been a while, but I used to take my kids to GameStop to sell back video games they no longer wanted. I think it was similar back then that you got more in store credit than you would get in cash/gift card for use anywhere.

If they're giving 90-80% in store credit, that means only 50 - 40% in comps for cash lol.

Great! Now GameStop is getting into fencing Graded Cards, on top of video games and electronics.

Get ready to see more tweakers with sticky fingers ranging around at card shows.

This is an assumption based on conversations I've had with my daughter over the years, who worked at GameStop for a few years while she was in college.

This is the reason GameStop stock is soaring again! The market loves their connection to PSA!

Roaring Kitty?

Is that you?

So PSA bought SGC, and now Game Stop is buying PSA? Is that correct?

I called my local gamestop and they said they are only buying pokemon cards and that's not until June.

I don't think so. Man, that would be the literal end of PSA. GameStop management is notoriously slimy and incompetent.

Don't even think they'd have the money to buy PSA. Even if they cashed in a bunch of their presently inflated stock.

They've been treading water between a meme stock and another Blockbuster for years now.

No, I don't think so. According to the article, they will be buying PSA graded sports and gaming cards that have grades of at least an 8 and a value of at most $500.

From the article, it sounds like this is still in progress so all the details may not be completely worked out, but it did say sports and gaming cards. Time will tell what really happens.

That's because they don't keep any more then $500 in the cash register at a time. Don't go in the morning when they open up...because they won't have the cash in the register yet. May not even be until much later if they have a slow morning.

They will definitely push to give you credit instead. One of the reasons will be...they don't have the cash in the register. Try the next GameStop up the street if you want cash.

It's a real desperate racket. :D

I think they'll be giving gift cards.

Sell Apple, buy GameStop?

Roaring Kitty?

Is that you?



Quite funny!

It might help bring a bit of it together doing a search for "currency trading cards" and realizing PSA grades them...and Gamestop sells them.

It's an odd scene featuring "original art" in the loosest sense appealing to the weirder parts of the "investment" (also in the loosest sense) world.

I have no faith at all that Gamestop employees will be able to detect fake PSA slabs/flips or slabs with lower graded cards inserted and the slab resealed.

I hear thru well placed sources that after the sale is complete, Gold and Silver Pawn (aka Pawn Stars) will begin negotiations to buy Gamestop.

Bold move imo, where are they going with this? They really going to import more showcases into the store for $10-20 cards? What’s gonna happen when they go to die there? I think they will open a eBay store or something. Off topic GameStop stock is up for a store with not a lot of traffic

A few months ago, I found a $25 GameStop gift card and had no idea what I was going to do with it. This could now be very interesting.

hodl!

Per gamestop post, they will be taking sports cards:

https://www.instagram.com/p/C69HzNPAYWu/

"Yes we will, just as long as they have been graded."

I can see them taking advantage of young teen collectors...

I'm curious what kind of baseball cards fit into this category, mid tier 60's HOFers comes to mind but I don't know enough about the >=PSA 8 <$500 market to hazard a guess.

You have to think of their client base, it will be ultra modern and likely nothing but.

I also see this making no waves or even ripples in the hobby, much like the discussion on StockX inclusion which has been a non-factor. StockX monetized PSA grades and not cards which predictably is not succeeding well and has been become a dump off for flawed and over graded cards as no scans are shown. You simply buy a card in the grade sight unseen.

Sellers know they can send their 8's to stockx that are 90-10 centered and would sell for less because the buyer is getting just the grade they paid for and nothing else. The same group will be dumping their lower graded 7-8 modern cards because of no qualifiers to an unknowledgeable Game Stop employee for sales on a likely blind website as well.

These selling methods of using a grade and not a visible card as commodity is the poorest thought out idea on earth.

Just reading through this thread and have to correct the math.

90% is about 40% more than 64%.
80% is 40% more than 57%.

So the correct range of gift card amounts, based on your store credit assumptions, would be 57-64% of comps.

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Ha ha

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Gamestop is doing everything it can to stay relevent. I can't blame them.
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