Now what do you think of PSA

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Posted By: shellyjaffe

Important Note:


PSA/DNA Auction Letters of Authenticity – Some of you may or may not have encountered a PSA/DNA Auction Letter in the marketplace. Whether you were the winning bidder in the auction or you purchased an autographed item privately, one of these letters may have accompanied the item. Please keep in mind these Auction Letters are NOT representative of full PSA/DNA authentication. This service was created to assist auction houses prior to their offerings due to their high volume of autographed material.

Prior to the sale, the items are presented for a cursory review only prior to the sale. The items are NOT tagged with our synthetic DNA, are not issued with PSA/DNA serial numbers, and the items are NOT photographed (as they are on our full PSA/DNA authentication letters).

In addition, PSA/DNA Auction Letters contain text written by the auction house, not PSA/DNA. This is a very important distinction to note. The text contained therein is NOT a representation by PSA/DNA; it is the actual lot description provided solely by the auction house. The description helps tie the letter to the lot offered in the sale. Please keep this in mind prior to purchasing an item accompanied by this type of letter.

We feel it is imperative that prospective bidders understand this prior to bidding on items that come with this type of LOA. The good news is that the items can be sent in for full PSA/DNA authentication and, if the original letter (copies will not be accepted) is sent in along with the auction item you send the letter together with the auction item. The full letter can be provided for a mere LOA upgrade fee Hot link (http://www.psadna.com/fees.chtml). We highly recommend that collectors take advantage of this upgrade program and fully to realize all the benefits associated with the PSA/DNA service., we highly recommend that collectors take advantage of this upgrade program. The process is simple and the cost is minimal.

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Posted By: Judge Dred

I'm not bashing PSA/DNA and I don't want to seem cynical but....

PSA/DNA Auction Letters of Authenticity – Some of you may or may not have encountered a PSA/DNA Auction Letter in the marketplace. Whether you were the winning bidder in the auction or you purchased an autographed item privately, one of these letters may have accompanied the item.

Please keep in mind these Auction Letters are NOT representative of full PSA/DNA authentication.

This service was created to assist auction houses prior to their offerings due to their high volume of autographed material.

Prior to the sale, the items are presented for a cursory review only prior to the sale.

I wouldn't consider that the auction houses are out there to deceive anyone. I still feel that allowing a blanket LOA to be issued is a poor practice on PSAs part, expecially if they PSA/DNA is not actually issuing the LOA. Why don't the auction houses just issue their own LOA and be done with it? Why would PSA/DNA put themselves into this type of position? From a business perspective I understand that PSA/DNA wants the hobbyists business but allowing this practice to continue makes me just a little skeptical.

The items are NOT tagged with our synthetic DNA, are not issued with PSA/DNA serial numbers, and the items are NOT photographed (as they are on our full PSA/DNA authentication letters).

In addition, PSA/DNA Auction Letters contain text written by the auction house, not PSA/DNA. This is a very important distinction to note. The text contained therein is NOT a representation by PSA/DNA; it is the actual lot description provided solely by the auction house.

The description helps tie the letter to the lot offered in the sale. Please keep this in mind prior to purchasing an item accompanied by this type of letter.

We feel it is imperative that prospective bidders understand this prior to bidding on items that come with this type of LOA. The good news is that the items can be sent in for full PSA/DNA authentication and, if the original letter (copies will not be accepted) is sent in along with the auction item you send the letter together with the auction item. The full letter can be provided for a mere LOA upgrade fee Hot link (http://www.psadna.com/fees.chtml). We highly recommend that collectors take advantage of this upgrade program and fully to realize all the benefits associated with the PSA/DNA service., we highly recommend that collectors take advantage of this upgrade program. The process is simple and the cost is minimal.

Don't you think that, perhaps, just maybe, the auction item descriptions covered by these LOAs should indicate that PSA/DNA hasn't qualified it as authentic and that it could very well be returned as NOT AUTHENTIC if the item is sent in for PSA/DNA authentication?

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Posted By: jay behrens

Let me get this straight, I buy a lot of 100 sigs with PSA auction letter and PSA will not gaurentee the sigs. I need to resubmit them to PSA individually with the original letter. But I can't submit copies of the letter. So I guess I only get to resubmit one sig and am out in the cold on the other 99.

Talk about about completely worthless service from the collector's point of view.

Jay

I've just reached Upper Lower Class. I am now officially a babe magnet for poor chicks.

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Posted By: Bottom of the Ninth

Just more corner cutting measures by auction houses and/or PSA. My understanding, having encountered this first hand, is that the signatures are looked to authenticate but the subsequent steps of photographing the item and issuing a formal letter are not done unless the new owner wants to pay for PSA's official LOA.

My experience with this took place several years ago with one of the larger auction houses and it turned out that one of the two signatures was a facsimile sig. So much for cursory examination. The auction house offered to buy the item back at the price I paid.

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Posted By: vetekbob

It will be curious to see how this plays out in the Bill Daniels lawsuit filed last month as well as any potential fall out between collectors and psa. Things are looking worse and worse for PSA/DNA and they will have no one to blame but themselves if and when it hits the fan in the media more so than it has already. Will we see a class action suit filed against PSA/DNA from so many others like Bill Daniels who had no idea what was going on behind the scenes and bought in good faith and expectation? When you cut corners for the sake of money, it always comes back to bite you square in the buttocks. As they say, it can take a lifetime to build a good reputation and mere seconds to lose it all.
Robert

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Posted By: Julie

"not tagged with our official synthetic DNA" mean? Exactly WHAT has the item NOT been tagged with?

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Posted By: vetekbob

My point being was that in looking at the cert Bill Daniels got and filed with the court, such things as shelley posted were not mentioned to Bill or if they had been he has left that part out. I was posing the question as to do people who have received a cert such as Bill realize the difference and were they made aware of such before winning a lot at an auction house? I dont think my post was off base to question such things and I dont see a need to make such snide comments to me either. If you disagree with me that is fine.