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JKDavid, Im not sure you understood my comment. I dont believe there is any problem with someone stating that a card is overgraded. As you point out, that is merely someone's opinion.
What Steve said was "You can bet your last dollar that if they sold it it was overgraded." The implication being that if GAI was going to sell a card, they intentionally overgraded it so that they (GAI) could sell it for more and make a greater profit on the sale. In other words, they committed a fraudulent act. Considering there is no evidence of even a .5 bump and more importantly that the original owner of the card stated that the Ruth was pregraded by GAI the same exact grade that PSA gave it prior to its being cracked and submitted to GAI, I think that was a pretty bold assumption.
Now, if it turns up later on the open market in a higher grade, then you would have some pretty good evidence to support the statement and it would be fair to assume that the bump was the result of a desire to make more money on the card.