GameStop is buying PSA graded cards

[jayshum]

https://www.sportscollectorsdaily.co...trading-cards/

[visualplane]

Wow, sports cards as well. Not just pokemon cards.

[BigfootIsReal]

LOL, will be worse than selling to Rick on Pawn Stars

[visualplane]

"One store told us that customers who opt for a store credit will receive 40% more for their cards than those who opt to take a gift card that can be used anywhere."

Ok, party is over.

[jayshum]

Originally Posted by visualplane

"One store told us that customers who opt for a store credit will receive 40% more for their cards than those who opt to take a gift card that can be used anywhere."

Ok, party is over.

It's been a while, but I used to take my kids to GameStop to sell back video games they no longer wanted. I think it was similar back then that you got more in store credit than you would get in cash/gift card for use anywhere.

[visualplane]

If they're giving 90-80% in store credit, that means only 50 - 40% in comps for cash lol.

[D. Bergin]

Great! Now GameStop is getting into fencing Graded Cards, on top of video games and electronics.

Get ready to see more tweakers with sticky fingers ranging around at card shows.

This is an assumption based on conversations I've had with my daughter over the years, who worked at GameStop for a few years while she was in college.

[scooter729]

This is the reason GameStop stock is soaring again! The market loves their connection to PSA!

[D. Bergin]

Originally Posted by scooter729

This is the reason GameStop stock is soaring again! The market loves their connection to PSA!

Roaring Kitty?

Is that you?

[jingram058]

So PSA bought SGC, and now Game Stop is buying PSA? Is that correct?

[visualplane]

I called my local gamestop and they said they are only buying pokemon cards and that's not until June.

[D. Bergin]

Originally Posted by jingram058

So PSA bought SGC, and now Game Stop is buying PSA? Is that correct?

I don't think so. Man, that would be the literal end of PSA. GameStop management is notoriously slimy and incompetent.

Don't even think they'd have the money to buy PSA. Even if they cashed in a bunch of their presently inflated stock.

They've been treading water between a meme stock and another Blockbuster for years now.

[jayshum]

Originally Posted by jingram058

So PSA bought SGC, and now Game Stop is buying PSA? Is that correct?

No, I don't think so. According to the article, they will be buying PSA graded sports and gaming cards that have grades of at least an 8 and a value of at most $500.

[jayshum]

Originally Posted by visualplane

I called my local gamestop and they said they are only buying pokemon cards and that's not until June.

From the article, it sounds like this is still in progress so all the details may not be completely worked out, but it did say sports and gaming cards. Time will tell what really happens.

[D. Bergin]

Originally Posted by jayshum

No, I don't think so. According to the article, they will be buying PSA graded sports and gaming cards that have grades of at least an 8 and a value of at most $500.

That's because they don't keep any more then $500 in the cash register at a time. Don't go in the morning when they open up...because they won't have the cash in the register yet. May not even be until much later if they have a slow morning.

They will definitely push to give you credit instead. One of the reasons will be...they don't have the cash in the register. Try the next GameStop up the street if you want cash.

It's a real desperate racket.

[visualplane]

Originally Posted by D. Bergin

That's because they don't keep any more then $500 in the cash register at a time. Don't go in the morning when they open up...because they won't have the cash in the register yet. May not even be until much later if they have a slow morning.

They will definitely push to give you credit instead. One of the reasons will be...they don't have the cash in the register. Try the next GameStop up the street if you want cash.

It's a real desperate racket.

I think they'll be giving gift cards.

[theshowandme]

Sell Apple, buy GameStop?

[shoreball51]

Roaring Kitty?

Is that you?



Quite funny!

[BioCRN]

It might help bring a bit of it together doing a search for "currency trading cards" and realizing PSA grades them...and Gamestop sells them.

It's an odd scene featuring "original art" in the loosest sense appealing to the weirder parts of the "investment" (also in the loosest sense) world.

[Bored5000]

I have no faith at all that Gamestop employees will be able to detect fake PSA slabs/flips or slabs with lower graded cards inserted and the slab resealed.

[doug.goodman]

I hear thru well placed sources that after the sale is complete, Gold and Silver Pawn (aka Pawn Stars) will begin negotiations to buy Gamestop.

[refz]

Bold move imo, where are they going with this? They really going to import more showcases into the store for $10-20 cards? What’s gonna happen when they go to die there? I think they will open a eBay store or something. Off topic GameStop stock is up for a store with not a lot of traffic

[Vintagedeputy]

A few months ago, I found a $25 GameStop gift card and had no idea what I was going to do with it. This could now be very interesting.

[visualplane]

https://www.youtube.com/watch?v=-re-K2eqW60&t=13s

[steve B]

https://www.youtube.com/watch?v=jLo7tHDHgOc

[kcohen]

Originally Posted by theshowandme

sell apple, buy gamestop?

hodl!

[visualplane]

Per gamestop post, they will be taking sports cards:

https://www.instagram.com/p/C69HzNPAYWu/

"Yes we will, just as long as they have been graded."

[chalupacollects]

I can see them taking advantage of young teen collectors...

[Casey2296]

Originally Posted by jayshum

No, I don't think so. According to the article, they will be buying PSA graded sports and gaming cards that have grades of at least an 8 and a value of at most $500.

I'm curious what kind of baseball cards fit into this category, mid tier 60's HOFers comes to mind but I don't know enough about the >=PSA 8 <$500 market to hazard a guess.

[JustinD]

Originally Posted by Casey2296

I'm curious what kind of baseball cards fit into this category, mid tier 60's HOFers comes to mind but I don't know enough about the >=PSA 8 <$500 market to hazard a guess.

You have to think of their client base, it will be ultra modern and likely nothing but.

I also see this making no waves or even ripples in the hobby, much like the discussion on StockX inclusion which has been a non-factor. StockX monetized PSA grades and not cards which predictably is not succeeding well and has been become a dump off for flawed and over graded cards as no scans are shown. You simply buy a card in the grade sight unseen.

Sellers know they can send their 8's to stockx that are 90-10 centered and would sell for less because the buyer is getting just the grade they paid for and nothing else. The same group will be dumping their lower graded 7-8 modern cards because of no qualifiers to an unknowledgeable Game Stop employee for sales on a likely blind website as well.

These selling methods of using a grade and not a visible card as commodity is the poorest thought out idea on earth.

[Gorditadogg]

Originally Posted by visualplane

If they're giving 90-80% in store credit, that means only 50 - 40% in comps for cash lol.

Just reading through this thread and have to correct the math.

90% is about 40% more than 64%.
80% is 40% more than 57%.

So the correct range of gift card amounts, based on your store credit assumptions, would be 57-64% of comps.

Sent from my SM-S906U using Tapatalk

[Gorditadogg]

Originally Posted by D. Bergin

Roaring Kitty?



Is that you?

Ha ha

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[Leon]

Gamestop is doing everything it can to stay relevent. I can't blame them.
.

[jayshum]

Looks like GameStop is expanding their association with PSA where you will be able to drop off cards at some stores for grading by PSA.

https://seekingalpha.com/news/416044...-trading-cards

[Balticfox]

Originally Posted by BigfootIsReal

LOL, will be worse than selling to Rick on Pawn Stars

:lol:

[Leon]

Originally Posted by jayshum

Looks like GameStop is expanding their association with PSA where you will be able to drop off cards at some stores for grading by PSA.

https://seekingalpha.com/news/416044...-trading-cards

Sounds like the deal Amazon has on returns with Kohls and others...Get 'em in the store!
.
.

[BioCRN]

$20/card, $5 flat shipping per order. It's very fair considering how much a PSA subscription costs these days.

I'm going to hit up this service, but I'm going to wait out the initial roll-out period so they employees are used to it. Given the time of year, I'm going to wait until the holiday season passes. That should give things time to see how well they're running with the service.

[4815162342]

I think I’ll pass. This seems to be for the modern shiny crowd.

[Fred]

If the market cap on GME was a lot lower, then it'd almost be like time to consider short selling it. It just blows my mind that the stock hasn't just faded away and been de-listed. Internal reports indicate over $5B assets. If you consider gaming inventory as assets then it makes you really wonder what the actual value of all that garbage is. Now they're going to add low cost PSA cards. Seems like a pretty crazy move. Perhaps a poll on how this board feels about what the valuation of the PSA cards GME is buying will be worth in a few years.

It'd be even funnier if GME started investing in recent rookie cards. Wasn't the Trout rookie supposed to be going for $$$$$. I wonder how much it dropped after this season.

What would members of this board think if GME started buying vintage cards like T206 Cobbs, '33 Goudey Ruth's and cards like that? They'd almost have to create a GME vault because I wouldn't house those type of cards in those the shops they have.

[BioCRN]

Originally Posted by Fred

If the market cap on GME was a lot lower, then it'd almost be like time to consider short selling it. It just blows my mind that the stock hasn't just faded away and been de-listed.

There is an entire army of internet people who have been buying and holding GME for years assuming one day it's going to shoot up to a zillion dollars a share and they can buy their own private island etc etc...

The social aspect and conspiracy surrounding it is more important than making money, evidently.

We just got out of one of the best recent eras to enrich yourself investing during the COVID-era and these people have spent a huge chunk of their time and money buying and holding GME during this boom.

[Fred]

Originally Posted by BioCRN

There is an entire army of internet people who have been buying and holding GME for years assuming one day it's going to shoot up to a zillion dollars a share and they can buy their own private island etc etc...

The social aspect and conspiracy surrounding it is more important than making money, evidently.

We just got out of one of the best recent eras to enrich yourself investing during the COVID-era and these people have spent a huge chunk of their time and money buying and holding GME during this boom.

A few people made a lot of money during that spastic GME trading period. I'm gong to go out on a limb and guess that most of those Reddit readers lost their butts on that. I just wonder how much of the GME asset sheets are even close to being correct. There are a lot of short positions on GME, but I just can't see another stupid run on the stock like that one crazy trading period. Vegas should put an over/under bet on how long that stock will still be trading.

[BioCRN]

Originally Posted by Fred

A few people made a lot of money during that spastic GME trading period. I'm gong to go out on a limb and guess that most of those Reddit readers lost their butts on that. I just wonder how much of the GME asset sheets are even close to being correct. There are a lot of short positions on GME, but I just can't see another stupid run on the stock like that one crazy trading period. Vegas should put an over/under bet on how long that stock will still be trading.

I only passively follow the internet cult trainwreck that is GME, but they seem to be very cash-heavy and very little idea what to do with that cash.

The US dollar isn't going to help the revenue bottom line as interest rates get cut. They need to put that money to work.

[ahmanfan]

Originally Posted by visualplane

If they're giving 90-80% in store credit, that means only 50 - 40% in comps for cash lol.

Usually rule of thirds for retail setting like this.

2/3 value in store credit
1/3 value cash


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[jayshum]

Looks like the arrangement with PSA is working great

https://www.dailydot.com/news/gamest...ards-375k/?amp

[BioCRN]

Originally Posted by jayshum

Looks like the arrangement with PSA is working great

https://www.dailydot.com/news/gamest...ards-375k/?amp

I mean, it's one thing to hit up Gamestop to grade 5-10-20 random cards, even some that worth a few hundred.

Once you have thousands of dollars, especially 100s of thousands of dollars, on the line...dude, just get the $150 membership.

[Snowman]

At the price points they'll be paying, this will only serve as an outlet for thieves to unload their stolen cards.

[Keith H. Thompson]

Originally Posted by Snowman

At the price points they'll be paying, this will only serve as an outlet for thieves to unload their stolen cards.

"Bring us your tired, your weary, your beaters, your otherwise unsaleable, your stolen ... "

[D. Bergin]

Sigh. People just say stuff on the internet and it becomes news now. Last week Aaron Rodgers (surprise!) and Pat McAfee passed on a completely made up statistic about Jared Goff on McAfee's show (fact checking is liberal snowflakism now, apparently)....now this.

Guy had a follow up video where he flashes a police report and a Gamestop receipt for all those "skeptics" out there.

Here's a screenshot of his receipt for his $375,000 "submission" of Star Wars cards and "other stuff".

So Dumb!

[D. Bergin]

The guys Tick Tacs look like he's doing a bit from a "Clerks" movie or something.


Pretty sure, this guy thinks he Andy Kauffman and he's doing a "bit".