A recent post on the non-sports board stated that the standard Legendary consignment contract calls for grading fees to be assessed at a rate of $8.00 per card. That consignor of non-sports cards was "surprised" by a $40,000 charge.
I know from talking to other collectors that some have been able to negotiate bulk prices from PSA, in the neighborhood of $5.00 per card. (Legendary has to be using PSA exclusively, right? They couldn't be sending stuff to SGC, could they?)
At first glance, this looks like another potential profit center, but Legendary does have some costs involved in handling, processing and shipping, so it doesn't seem too outrageous to me.
I think the big surprise is that many grew to expect that Mastro used to eat these fees. Apparently, Legendary is passing them along. It sounds harsh after the fact, but people should read these contracts upfront, or not bitch about it after.
There are still plenty of real issues to complain about with Mastro, er, Legendary. Lets's focus on those.
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