Quote:
Originally Posted by Exhibitman
Bingo! Compliance with securities laws is the way to legitimize the effort. Not skirt it, embrace it. If the fractional interest promoters can manage that, they have a chance at selling people on it not being a giant scam. If they act like the crypto bros, not so much.
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Exactly right, and just think how that could also then apply to scrutiny and oversight of TPGs who review and opine on the sports cards and other items now being sold as investments. Just like the rules and regulations that CPAs who opine on the financial statements of publicly traded companies have to follow.
Like how a CPA cannot ever charge a contingent fee for any work or services they provide so they maintain their independence and do not have any potential bias or conflicts of interest, in both fact AND APPEARANCE! If that were similarly applied to TPGs, then they could technically only charge the exact same amount to grade a 1988 Gregg Jefferies rookie card as they would for grading a '52 Topps Mantle card, assuming they were providing the same exact service(s)/work. Now, how nice would that be that you are only charged for the actual work/services they perform, and not for what they can maybe get away with? Also, in the case of owners/employees of a TPG, they likely would never be allowed to have their own cards/items be graded or otherwise serviced by the same TPG they owned/worked for. For example, David Hall owned one of, if not the most celebrated T206 card collections of all time at one point, to my understanding. He also was behind the creation of, and at one time a major owner of, Collectors Universe I believe, which also (or at least did) own PSA as a wholly owned subsidiary. I wonder while still an owner who he may have had grading his T206 cards? Likewise, now that CU/PSA have been taken over by private ownership (and is no longer publicly traded), including by such as Nat Turner, I wonder who he has/would have do the work of grading any cards he may want to get graded now? That kind of thing happening would be a totally improper and unbelievably and absolutely biased conflict of interest occurrence and should never be (or have been) allowed to happen.