It's now official - Mastro trimmed hisT206 Wagner

[WhenItWasAHobby]

I do recall reading that Mr. Kendrick put the Wagner on display at Cooperstown and later at the Diamondback's stadium for the 2011 All-Star Game. If he now continues to publicly display it - especially where money is paid to view it, in my opinion he legally has an obligation to either have the card re-labeled by PSA as AUTH or put an obvious disclaimer on the exhibit stating the card has been trimmed. Of course and even more so the same is true if he decides to resell the card.

[MattyC]

If deep down Kendrick no longer wants the card and intends to sell it, he instead should give it to PSA and have them reimburse him as per their policy and take the card out of circulation.

If they chose not to pay for whatever reason, it would be huge egg on their face, so to speak.

I wonder what would happen to it in that event...my understanding is that trimmed cards bought back by PSA are destroyed. No doubt this particular trimmed card would still be worth quite a bundle to some. Very interesting scenario.

Or perhaps he could negotiate with PSA, who seeking to avoid a huge payout, might agree to make him whole on his purchase when sold as "trimmed" at auction.

[drmondobueno]

Originally Posted by WhenItWasAHobby

I do recall reading that Mr. Kendrick put the Wagner on display at Cooperstown and later at the Diamondback's stadium for the 2011 All-Star Game. If he now continues to publicly display it - especially where money is paid to view it, in my opinion he legally has an obligation to either have the card re-labeled by PSA as AUTH or put an obvious disclaimer on the exhibit stating the card has been trimmed. Of course and even more so the same is true if he decides to resell the card.

It would seem to me PSA would have the same obligation. If auditors, for example, find their prior work was tainted by internal "happenstance", their obligation to disclose is clearly defined. It would seem to me the same in this situation.

[Peter_Spaeth]

One would think that at some point psa has to take a position in light of mastro and his admission. I know they tend to play ostrich but with david hall having publicly stated that he examined the card and it was good, it seems eventually they have to deal with this. Then again they have not dealt with the Doyle, right?

[MattyC]

Nor have they dealt with the cello pack fiasco.

[Peter_Spaeth]

PSA has not publicly commented on the allegations in the indictment or in our book and newspaper articles. Orlando and David Hall, the president of Collectors Universe, PSA’s parent company, have not responded to requests for interviews.

But a mole who attended PSA’s invitation-only lunch at the National says the indictment and the allegations about the card were the main topic of discussion. Also, our spy tells us, the chicken Marsala was quite good.

Our mole says about 150 collectors and dealers attended the lunch, held Friday at the convention center. Hall, he says, got up and said he had to address the “800-pound gorilla in the room” – the indictment.

“He asked for a show of hands and said, ‘Anyone here see the Wagner?’ A bunch of hands go up. Then he asked, ‘Has anyone seen it outside its holder?’ And he is the only one with his hand up.

“He takes out a magnifying glass and says ‘I have examined every aspect of that card. The only question we had was if it should be a PSA 7 or a PSA 8. We never considered that it had been altered,” our spy says.

Hall, according to our source, told his audience that they should question Mastro’s motives; Mastro might have agreed to say the card is trimmed as part of a deal with prosecutors. “He was suggesting you can’t believe Mastro, because now he will do anything to save himself,” our spy says.

Hall, according to our mole, also said Bill Hughes, the member of the grading team who told us he knew the card had been trimmed, has denied making those comments. Hall, our spy says, claims Hughes says it is an “out and out lie” that he knew the card had been trimmed.

Hall, our source added, also said PSA stood by its grade and would compensate the owner if it is proved that the card had been trimmed. But he didn’t say if the company would pay $300, the fee it charges to grade cards worth $10,000 or more, or the $2.8 million current owner Ken Kendrick paid for it in 2007.

[travrosty]

an agreement could have been made between the owner of the card and the authentication company already with confidentiality and we would never know.

kendrick doesnt seem mad at psa. i would be.