Mastro pleads guilty

[Peter_Spaeth]

Originally Posted by Runscott

To me, the entire thing is incredibly ironic.

The following, of course, is all theory

• An amazing card is 'found' by a businessman ($$$-driven) who loves cards
• The card is oversized, so he has it made 'normal' size, realizing it will look even better and be worth even more $,$$$,$$$,$$$
• But he also realizes that altering cards is still sort of frowned upon in the hobby. So a plan is formed, and here is where the irony is born:
• A grading company is created for the express purpose of grading this one amazing card, therefore authenticating that it is unaltered. You are wearing blinders if you think anyone involved didn't understand 'the plan'. But maybe everyone was just incredibly naive?
• Hobbyists knew nothing about grading companies or slabbed cards, because this was the only one of either in existence (But I'm sure they could relate it to stamps or coins)
• Now, the irony: This card in its new-fangled plastic slab, created the importance that we, as collectors, have put on card-grading and plastic slabs.
• ...so, if the Feds had gotten involved as soon as this card was slabbed and sold, everyone would have laughed. The perpetrators created a future hanging for themselves that could only occur if they were hugely successful.

Mastro sold the Wagner to Jim Copeland in 1987. PSA was formed in 1991. And Alan Hager was slabbing cards before PSA did, through ASA.

[Jlighter]

Originally Posted by Peter_Spaeth

Mastro sold the Wagner to Jim Copeland in 1987. PSA was formed in 1991. And Alan Hager was slabbing cards before PSA did, through ASA.

Here is a card graded by his company.

http://www.robertedwardauctions.com/.../2012/210.html

Not mine, unfortunately.

[Peter_Spaeth]

Hager invented, or at least had a patent on, the "arrowhead" holder PSA uses. He also claimed to have invented the 1-10 grading system but as I recall that was not patentable.

[Runscott]

Originally Posted by Peter_Spaeth

Mastro sold the Wagner to Jim Copeland in 1987. PSA was formed in 1991. And Alan Hager was slabbing cards before PSA did, through ASA.

So, when PSA slabbed the card, it was NOT sold by Mastro? I must have missed something. Sorry about that. Also, I don't recall slabbed cards having any influence on anything or anyone prior to PSA, but again, I could be mis-remembering.

[Peter_Spaeth]

Originally Posted by Runscott

So, when PSA slabbed the card, it was NOT sold by Mastro? I must have missed something. Sorry about that. Also, I don't recall slabbed cards having any influence on anything or anyone prior to PSA, but again, I could be mis-remembering.

No, it was owned by Gretzky and McNall at the time, it was after they had purchased it in the Copeland auction.

[Runscott]

Originally Posted by Peter_Spaeth

No, it was owned by Gretzky and McNall at the time, it was after they had purchased it in the Copeland auction.

Okay, I just went back and checked the book to see what gave me that impression. See page 87.

edited to add: The author of 'The Card' did a great job of pushing his own viewpoint. Page 87 had a pretty huge effect on my thinking, and "no", I did not read the book more than once . I feel sort of like I've been 'Oliver Stoned'.

[tbob]

Anyone else wonder why the judge was changed this late in the proceedings? So far, no one's saying.
I also get the part about his (Mastro) accepting reponsibility and cooperating with the Government to lessen the offense level and the Government probably dismissing some of the counts in the indictment and requesting a downward departure (5k1.1) but it will be interesting to see how many counts remain and whether any of the counts pertaining to the skinning of Mastro Auction bidders will remain. Lots of unanswered questions still out there......