Collectors Universe releases fourth quarter and fiscal year end earnings today

[CuriousGeorge]

4:30 pm EST today

Dial 800-347-6311 a few minutes before 4:30 pm EST today or view a webcast on their site www.collectorsuniverse.com under Investor Relations: Earnings Conference Calls or for a replay dial 888-203-1112 with access code 9390521# Should be very interesting.

[Peter_Spaeth]

I haven't heard people clamoring to short CLCT recently. I am guessing their earnings will be in line, but who knows. Or if it underperforms it will be due to coins.

[Aquarian Sports Cards]

I'd like to know how their guarantee fund stands.

[perezfan]

Originally Posted by Aquarian Sports Cards

I'd like to know how their guarantee fund stands.

It's probably fine, considering it is meaningless, they direct all refunds to the seller, and have no intent on paying out a penny.

Still not a single post here (or on BO) from one single person who was made right by PSA's "guarantee". It's just PWCC and a few various Dealers who are providing refunds.

If anyone reading this thread was provided a refund directly from PSA, please post it here, along with pertinent details.

[Peter_Spaeth]

Originally Posted by perezfan

It's probably fine, considering it is meaningless, they direct all refunds to the seller, and have no intent on paying out a penny.

Still not a single post here (or on BO) from one single person who was made right by PSA's "guarantee". It's just PWCC and a few various Dealers who are providing refunds.

If anyone reading this thread was provided a refund directly from PSA, please post it here, along with pertinent details.

I believe there have been a post or two on BO about PSA making good. Also Jesse, on this Board.

[jhs5120]

Originally Posted by perezfan

It's probably fine, considering it is meaningless, they direct all refunds to the seller, and have no intent on paying out a penny.

Still not a single post here (or on BO) from one single person who was made right by PSA's "guarantee". It's just PWCC and a few various Dealers who are providing refunds.

If anyone reading this thread was provided a refund directly from PSA, please post it here, along with pertinent details.

http://www.net54baseball.com/showthread.php?t=272630

There were a few posts about people receiving refunds.

Edit, Peter beat me to it

[perezfan]

Originally Posted by jhs5120

http://www.net54baseball.com/showthread.php?t=272630

There were a few posts about people receiving refunds.

Edit, Peter beat me to it

Aha.... I missed that one. Good to see they made Jesse whole.

Thanks for clarifying Peter and Jason... I stand corrected!

[jhs5120]

I'd imagine revenue is up significantly, the card business continues to grow and the coin business continues to slow.

I'm sure there will be an increase in warranty expense for the quarter. They had $728k reserved at the end of March. The only real surprise IMHO would be if the auditors decide they need to change up their warranty reserve methodology. Right now they seem to be reserving for around .02% of the total declared value of collectibles (adding $402k of warranty reserve on ~$2B of collectibles processed). For two consecutive years payments on the warranty have outpaced additions to the reserve (albeit not by much).

Right now, I doubt the warranty cost for the quarter is material. If it were, it would be interesting to see how the auditors react. Suggesting that PSA updates their methodology going forward (say .05% of declared value) would result in no meaningful impact on PSA financials, but suggesting that PSA updates their methodology and retroactively applies the change would potentially result in a significant hit. I doubt that would happen though - the declared value of trading cards is less than 10% of the declared value of coins.

Honestly, I think PSA will be fine.

[topcat61]

I'm going through PSA's SEC Filings and there's a lot here to digest, pick a part and question, but I have a question about this -

"Government Regulation
With the exception of laws in some states that require memorabilia authenticators to certify to the accuracy of their authentication opinions, there
are no material government regulations specifically relating to the authentication and grading businesses that we conduct, other than regulations that
apply generally to businesses operating in the markets where we maintain operations or conduct business".

Which states require authenticators to certify to the accuracy of their opinions? What does this process involve? Thanks.

Mark, I appreciate the answer you gave, pretty informative -Thank you!

[Aquarian Sports Cards]

I know California was passing some law about autographs. Not sure how it ended up. PSA didn't move out of CA so it must not affect them too much.

[WhenItWasAHobby]

Originally Posted by topcat61

I'm going through PSA's SEC Filings and there's a lot here to digest, pick a part and question, but I have a question about this -

"Government Regulation
With the exception of laws in some states that require memorabilia authenticators to certify to the accuracy of their authentication opinions, there
are no material government regulations specifically relating to the authentication and grading businesses that we conduct, other than regulations that
apply generally to businesses operating in the markets where we maintain operations or conduct business".

Which states require authenticators to certify to the accuracy of their opinions? What does this process involve? Thanks.

Mark, I appreciate the answer you gave, pretty informative -Thank you!

I have to wonder when the legal issue of "duty of care" comes to play. If law enforcement and/or a civil court reach the conclusion that PSA has no clue how to detect alterations to cards and yet they advertise that "PSA looks for evidence of doctoring, such as re-coloring or trimming", one would think they could not be allowed to continue their operation for at the very least common law negligence or even gross negligence or possibly even fraud if no effort nor diligence whatsoever is used in their determination. Just rendering an opinion that it doesn't look altered is pretty lame.

https://www.psacard.com/services/tradingcardgrading

[Peter_Spaeth]

Originally Posted by WhenItWasAHobby

I have to wonder when the legal issue of "duty of care" comes to play. If law enforcement and/or a civil court reach the conclusion that PSA has no clue how to detect alterations to cards and yet they advertise that "PSA looks for evidence of doctoring, such as re-coloring or trimming", one would think they could not be allowed to continue their operation for at the very least common law negligence or even gross negligence or possibly even fraud if no effort nor diligence whatsoever is used in their determination. Just rendering an opinion that it doesn't look altered is pretty lame.

https://www.psacard.com/services/tradingcardgrading

I don't think the government is going to shut PSA down, that isn't how things work. What court is going to issue that order, regardless of what it or a jury finds? This is a firm authenticating baseball cards, not a firm selling an inherently dangerous product or otherwise threatening people's lives or well-being.

[perezfan]

Originally Posted by Peter_Spaeth

I don't think the government is going to shut PSA down, that isn't how things work. What court is going to issue that order, regardless of what it or a jury finds? This is a firm authenticating baseball cards, not a firm selling an inherently dangerous product or otherwise threatening people's lives or well-being.

Sadly, I think you’re right...

But perhaps the Gov’t could force a mandatory “on-slab” disclaimer stating that continued reliance on PSA can be detrimental to your collection. Kind of like those warnings on Cigarette Packs, stating that smoking can be dangerous to your health. Seems that’s the very least they could do.

[samosa4u]

Originally Posted by perezfan

sadly, i think you’re right...

But perhaps the gov’t could force a mandatory “on-slab” disclaimer stating that continued reliance on psa can be detrimental to your collection. Kind of like those warnings on cigarette packs, stating that smoking can be dangerous to your health. Seems that’s the very least they could do.

lmao!

[Peter_Spaeth]

Originally Posted by perezfan

Sadly, I think you’re right...

But perhaps the Gov’t could force a mandatory “on-slab” disclaimer stating that continued reliance on PSA can be detrimental to your collection. Kind of like those warnings on Cigarette Packs, stating that smoking can be dangerous to your health. Seems that’s the very least they could do.

Yeah a warning from the Card Surgeon General.