PSA-A Cautionary Tale!

[Leon]

Originally Posted by bobbyw8469

Gary...I don't think that is it. A true review for a card worth that much costs around $65. NOT allowable under the 'free' submission grading/service, due to the price/value involved. I think a lot of people have a problem with a personal relationship with the president of a company that allows others to bypass rules that apply to everyone else.

If the president of a company wants to give a good customer a break on a price why is that a problem? Sounds like good business to me. Now, if Joe O said I can help you get a better grade, that's a whole different story (and I am sure Joe wouldn't do that). But as far as a discount on pricing, or a free submission, that doesn't matter to me at all. Almost Anyone in business has given a discount to a good customer.

[japhi]

Originally Posted by Leon

If the president of a company wants to give a good customer a break on a price why is that a problem? Sounds like good business to me. Now, if Joe O said I can help you get a better grade, that's a whole different story (and I am sure Joe wouldn't do that). But as far as a discount on pricing, or a free submission, that doesn't matter to me at all. Almost Anyone in business has given a discount to a good customer.

Leon - I would agree on the price break. That said, do you think the president of PSA should be having his buddies send submissions to his attention? Also, if PSA will crack and review shouldn't this service be open to all submitters?

I'm not even a PSA hater - I'm actively putting together a mid grade hockey HOF registry set and buying graded cards like a mad man - but IMO there is too much money involved for the process to be so loose. Seems mickey mouse to me. I sell a financial product and we are completely isolated from our credit group, I'd suggest PSA isolate Joe from the grading process.

I don't believe fraud is occurring but if I was a stakeholder at PSA it would be pretty clear in a process audit that fraud, at some point, is likely to occur.

[ullmandds]

The sentiment amongst those in the PSA inner circle seems to be..."I don't care if there's fraud going on...as long as I'm a beneficiary of it!"

[HRBAKER]

Originally Posted by ullmandds

The sentiment amongst those in the PSA inner circle seems to be..."I don't care if there's fraud going on...as long as I'm a beneficiary of it!"

One could surmise that is the sentiment of a significant portion of the hobby and not just as it relates to PSA.

One of the most amazing things about TPG is that the pricing structure that has been the outgrowth of it actually serves to encourage the behavior that it was originally developed to "protect" us against.

[Leon]

Originally Posted by japhi

Leon - I would agree on the price break. That said, do you think the president of PSA should be having his buddies send submissions to his attention? Also, if PSA will crack and review shouldn't this service be open to all submitters?

I'm not even a PSA hater - I'm actively putting together a mid grade hockey HOF registry set and buying graded cards like a mad man - but IMO there is too much money involved for the process to be so loose. Seems mickey mouse to me. I sell a financial product and we are completely isolated from our credit group, I'd suggest PSA isolate Joe from the grading process.

I don't believe fraud is occurring but if I was a stakeholder at PSA it would be pretty clear in a process audit that fraud, at some point, is likely to occur.

If the President of a grading company wants a customer to send a card to his attention I don't have a problem with that. I am not sure it's the best use of his time but that is not for me to say. It's a favor and an exception. So what? As long as when I send my card in, it gets fair and impartial treatment, and I get the service I paid for, I don't care. Unless there is fraud going on, as a business person, I just don't have an issue with it. I am far from an apologist and think some things could be different, but overall, I think PSA does a good job. I think the hobby is much better with them than without them.

I should add that I don't think the President of a grading company should have a say in a grade, so I do agree there needs to be some separation in that respect.

[japhi]

I agree PSA is overall good for the hobby but the President being involved in the grading process of submitter's he knows is a huge conflict of interest when you consider the amount of money involved and the small differences between grades.

Personally I'm not impacted as I don't chase the super high end. As someone that builds process for sales organizations I can tell you it is a huge liability for PSA.