Quote:
Originally Posted by conor912
I’ve heard guys ask why PSA doesn’t just charge at the time of submission like SCG. Ive wondered the same thing, and the only possible reason I can come up with having something to do with liability and them being able skirt any semblance of legal responsibility for promised services….basically saying we don’t have make good on any promises until payment is collected. Curious to hear other takes, though.
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The backlog was allegedly between 13M and 14M cards. Let’s compromise at 13.5M. Let’s estimate that the average grading fee for the 13.5M cards was $15.00. That equals $202,500,000.00 in upfront fees.
Let’s estimate that PSA could earn just 1% interest on those fees. That’s $2,025,000.00 in yearly interest (free money) just from collecting fees upfront and depositing them into an account. How does this not make sense?