Bill Mastro denies widespread fraud in his auctions -- yesterday.

[drcy]

That the Wagner was rumored/alleged/accused of being trimmed was the about worst kept secret in the hobby for years. It ranked up there with 'ESPN chatboard talk Barry Bonds might have used PEDs.' It was openly talked about, even joked about, on this board and even the PSA board. Keith O. made snide remarks. To now say that this hobby bigwig or that hobby bigwig didn't know about these allegations is silly. That's why I posted my 'lack of common sense post.' If a 17 year old collector in small town Oklahoma heard stories the card was trimmed, it's hard to believe an industry insider was ignorant of the stories. Or, some might suggest, that they buyers didn't know.

The card was, at least for some, a commodity. Like hog bellies. If it brought a return, it brought a return.

PSA exists today as service for resellers and investors. That's what they are, that's how the describe themselves. They overtly advertise the financial benefits of getting your collectibles holdered by them. Average Joe eBay sellers on the CU board ponder aloud if it's worth their financial/resale investment to get such and such card graded-- or perhaps that issue is better to be graded by Beckett.

If you asked me what is the #1 thing I dislike about the art and collectibles industry, it's easy for me to answer: This money stuff. I'm no socialist, I understand collectibles have financial value, I've resold collectibles, if someone wants $10,000 for his baseball bat that's fine by me, if an auction house wants a 15% profit return in the next year I understand that. But turning the hobby into Money magazine, NYSE, investing clubs, is an entire turnoff. It's Donald Trump tacky. It's QVC. It's bad ESPN programming. There's a reason I don't own a television.