Cohen Capital Ventures, D1 Capital Partners, and Nat Turner teamed up to make an offer to Collector's Universe, Inc (PSA) to buy all stock and take the company private. And the board of directors voted to accept the deal.
I think this was about the money. The board could cash out their stock options and holdings, the shareholders would be able to sell their shares for more than they'd been valued before... and I think the buyers were doing this for the money. It's their work. They might have bought a company having shopping malls, or a golf cart manufacturer, or a greeting card company. It's about the money. And those 'buyers' are buying because they think that Collector's Universe will make 'more money' in the future.
I don't think Mr. Turner is gonna get all of his submissions graded as 10's.
It's not about getting cards graded. It is about two things: first, 'the money', and then secondly, 'more money.'
And how they make money is by having rabid collectors thinking all of their collectables need grading. Those collectors think it's about two things; first, getting a collectable graded; and secondly, getting it regraded. Think about the change to half grades, and then the change in label styles... that increased regrading.
It's about the money.
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