The hobby is it’s own worst enemy.
Monopolies control their market niche. Price fixing is a typical result. Customer service is irrelevant. Competition is not a factor. Having a million cards in a warehouse is an asset, not a problem. There will be more than a million in the warehouse when those are graded. Selling subjective and selective grades rather than cards to hype their intangible product is magic. Creating a Registry of their product is divine.
Customers belly ache about 12 month turn around times, but they still send their cards in for a number and a two bit slab. Appreciation in market value attracts fraudulent operators, who share the wealth with limited risk as long as they stay one step ahead of the $9/hour graders working in the sweatshop. What’s not to love?
It’s really hard to understand the impetus for anti-trust legistration, and the creation of Unions, when organizations like PSA are out there as role models. At least unionized card graders would be able to drink on the job.
