One more way to ruin the hobby - fractional ownership

[orioles70]

Unreal!!! I have a feeling the only people who will profit from this venture will be the ones who are paid for administration...bookkeeping, filing of tax returns, brokerage statements, etc...you wont be able to file your tax return until you receive your card brokerage statement showing your share of any gains or losses on sales

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[TheBig6]

Sounds To Complicated.

[WhenItWasAHobby]

One clear example, in my mind, of fractional ownership that has ruined the hobby is that PSA under Collectors Universe is a publicly traded company. Ultimately, PSA answers to the stockholders and the users of their service are secondary.

PSA engages in a service that is very subjective, and to keep cost low they offer a service of inspecting a card for typically 20 seconds without a rigorous, scientific program to detect alterations. The bottom line is meeting corporate objectives, so it's easy to see how a company like PSA get caught up in a scandal like this.

[Sean]

When I bought the Cobb Back I had to borrow $50,000 from my girlfriend. I offered her a 1/3 share in the card instead. She declined.

Not exactly the same as what is discussed in this article, but similar I think.

[Johnny630]

TOTAL KABOOKIE THEATER B to THE S

I have some Ocean Front Property in New Mexico you wanna own a fraction of it

[packs]

How would this even work? If you owned a "share" of a card but never possessed the actual card, what say do you really have in its being offered for sale? Couldn't the person with a majority stake leave it to his children who will then outlive all of the other "shareholders"? How many generations is someone really willing to follow the card around for and wait for it to be sold?

[tschock]

You only really own what you currently have in your hand. Everything else is up for grabs, by legal or illegal means.

[chalupacollects]

Originally Posted by packs

How would this even work? If you owned a "share" of a card but never possessed the actual card, what say do you really have in its being offered for sale? Couldn't the person with a majority stake leave it to his children who will then outlive all of the other "shareholders"? How many generations is someone really willing to follow the card around for and wait for it to be sold?

I would think they may have to put a time limit on ownership where it has to be sold to avoid generations of families having to deal with following the card(s) around...

Bigger question is what if they drop a million or two on a card that later on is found to be altered, conserved or Moserized???

Who takes that hit?