Quote:
Originally Posted by japhi
Personally I think the 1B number is ridiculous. PSA is only a 75mm company, and more then half of that from coins. Cards, I think 30mm or so. I suspect BGS is much smaller.
It is however hard to swag this thing, but what we know is BO has found 5-10MM in value lift between all sports. And they only have access to a minuscule amount of data - only a fraction of only sales can be worked and most raw, card show, private, set, lot, etc cards are untraceable.
So this thing is clearly wide ranging and the number is big. But the guys hyperventilating about 1b need to chill out a bit or show how the math works on that number.
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????
First, they've graded or authenticated over 30 million pieces. If it's an average price of $20 per that's $600 million.
Second, what on earth does that have to do with the dollar value of the scandal? If they grade a card that should be worth $500,000 and give it a grade that results in it being worth $10 million, do you think the fraud is just the cost of grading???!!!