Posted By:
Corey R. ShanusThis is perhaps a point about which we might just to have to agree to disagree.
FYS in his post at 11:47 this morning stated what SGC's terms are upon resubmissions,
"Cards on regrade or reholder service: SGC has the right to reevaluate the card and assign a newly established grade if SGC believes the card was originally misgraded. If the grade change results in a loss of value of the card, SGC will compensate the customer based upon market value as solely determined by SGC."
As I see it, case closed. SGC has just in the clearest of language warned all prospective resubmitters that you do so at your risk. If SGC learns they initially erred in how they slabbed the card, they have the right, upon payment of damages, to rectify the mistake. Yes, you may challenge them on how they compute the damages, but not on their right to take the card out of the initial holder.
And, if you think about it a bit, this is very fair. For the nominal (relative to the value of the card) fee you originally paid SGC to slab the card, they have added perhaps thousands or tens of thousands of dollars to the value of your possession. There is simply no way they are going to let you prevent them from taking steps to prevent the trashing of their reputation if they later learn they erred. Suppose the card is a high grade T206 Plank that it turns out was altered. Such a high visibility card with the initial SGC seal of approval can cause serious damage to their reputation and their associated goodwill, which as I said previously is their greatest asset. Any rational company would fight to the end to protect this asset. Also too, what SGC is doing (taking the card out of circulation in the incorrect holder and thereby preventing innocent third parties from relying to their detriment on an incorrect grade) happens to coincide exactly with the public interest. So therefore I can't see any court not upholding their right to force the regrading upon you.
Jeff -- I think what will make Jim C happy will also make PSA happy -- reslabbing as many of his 8s as 8.5s as possible. To Jim, he gets his coveted upgrades and concurrent rise in the set registry standings, all without any risk of having to expose his altered cards. To PSA, they now have other set registry contestants chomping at the bit to resubmit their cards and reclaim their place in the standings. Talk about a win-win! And, at the same time, talk about a grading company conflict of interest in doing the re-evaluations!!