PWCC Statement on Recent Card Trimming Concerns

[Peter_Spaeth]

Originally Posted by calvindog

When have you ever seen PSA make good on anything? Especially their written guarantee?

The reserve is based on prior experience so clearly they have bought back some volume of cards. But what we don't see is the volume of requests denied.

[calvindog]

Originally Posted by Peter_Spaeth

The reserve is based on prior experience so clearly they have bought back some volume of cards. But what we don't see is the volume of requests denied.

They fight everyone to the death unless they are sued or have their arms twisted.

[Peter_Spaeth]

Originally Posted by calvindog

They fight everyone to the death unless they are sued or have their arms twisted.

Just fulfilling their duty to shareholders to maximize the bottom line.

[jsanz]

After reading all of this I have a concern that I have not seen anyone address. What happens if/when people stop trusting PSA as THE grading company? That is where everyone with a PSA slabbed card will take a hit. Lets just say even a small amount of people start second guessing PSA cards. That might be a few less bidders on your items or maybe your buy it now listing does not sell at the price you want. That is where the real damage can occur. Think about if the value of PSA slabbed cards just drops a little bit over this situation. That could be millions in lost value in small increments. This effect can go way beyond the altered cards in question.

[ullmandds]

Originally Posted by jsanz

After reading all of this I have a concern that I have not seen anyone address. What happens if/when people stop trusting PSA as THE grading company? That is where everyone with a PSA slabbed card will take a hit. Lets just say even a small amount of people start second guessing PSA cards. That might be a few less bidders on your items or maybe your buy it now listing does not sell at the price you want. That is where the real damage can occur. Think about if the value of PSA slabbed cards just drops a little bit over this situation. That could be millions in lost value in small increments. This effect can go way beyond the altered cards in question.

you mean like now as far as not trusting PSA????? i think most on here...I know I have..... thought about this very scenario.

[steve B]

You haven't already stopped trusting PSA?

[vintagetoppsguy]

Originally Posted by steve B

You haven't already stopped trusting PSA?

Lol, right?

[joshuanip]

Originally Posted by jsanz

After reading all of this I have a concern that I have not seen anyone address. What happens if/when people stop trusting PSA as THE grading company? That is where everyone with a PSA slabbed card will take a hit. Lets just say even a small amount of people start second guessing PSA cards. That might be a few less bidders on your items or maybe your buy it now listing does not sell at the price you want. That is where the real damage can occur. Think about if the value of PSA slabbed cards just drops a little bit over this situation. That could be millions in lost value in small increments. This effect can go way beyond the altered cards in question.

Remember GAI? Exodus to SGC.

[Peter_Spaeth]

Originally Posted by joshuanip

Remember GAI? Exodus to SGC.

I thought Mike Baker was terrific, as good as they get. What happened there is really sad.

[MULLINS5]

PSA should regrade them "Authentic" and recoup whatever they can out of them through a sale. To avoid them coming back raw, they could scan each card and use as a reference. I know it's been discussed, for years, about using invisible ink of some kind on the card itself. Maybe now is the time to take that into serious consideration, again.

[Aquarian Sports Cards]

Originally Posted by Peter_Spaeth

The reserve is based on prior experience so clearly they have bought back some volume of cards. But what we don't see is the volume of requests denied.

It's all in the stock-holder statement. Guarantee returns were around 600k last year if I recall correctly. The figure has been increasing steadily and quickly the last few years.