CLCT going private

[MattyC]

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

[MikeGarcia]

Originally Posted by MattyC

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

...SEC forbids insider grading......

..

[MattyC]

Well played, Mike!

[111gecko]

You know they wouldn’t have spent that kind of money if they didn’t know they were in the clear for any type of accountability for the altered cards in their holders...are the bad guys going to walk as well??

[Johnny630]

Originally Posted by 111gecko

You know they wouldn’t have spent that kind of money if they didn’t know they were in the clear for any type of accountability for the altered cards in their holders...are the bad guys going to walk as well??

Yes

[samosa4u]

Can somebody tell me how I can reach out to Nat Turner? He needs to get PSA to start grading Star Co. basketball cards again! PSA has blacklisted these cards for way too long and everybody is sick of it! Come on, Nat, do the right thing!

[CobbSpikedMe]

Originally Posted by samosa4u

Can somebody tell me how I can reach out to Nat Turner?

nat.turner@ gmail.com?



.

[AGuinness]

Originally Posted by 111gecko

You know they wouldn’t have spent that kind of money if they didn’t know they were in the clear for any type of accountability for the altered cards in their holders...are the bad guys going to walk as well??

Haven't they done so already? Again and again and again... for every Mastro, how many other shady people never get brought to justice? I'd guess a lot.

[Lorewalker]

Originally Posted by MattyC

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

I think ya meant observed but absorbed is more fitting. The whole collecting community has absorbed it big time. Millions of bad slabs. Never gonna change.

[Rich Klein]

We're discussing the world today; I will also say, I'm more fascinated by what 2023 will bring because I believe about 2 years in will be when some major personnel changes may just occur. That is just my opinion, nothing more, nothing less.

[steve B]

Originally Posted by MattyC

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

But there's the odd catch 22 in all this.

Everyone wants the cards graded by people who know about the cards..
But not by anyone that collects them..

That really shrinks the pool of potential graders.

[rats60]

Originally Posted by steve B

But there's the odd catch 22 in all this.

Everyone wants the cards graded by people who know about the cards..
But not by anyone that collects them..

That really shrinks the pool of potential graders.

Why would we want a collector to grade our cards? We would never be able to get our reprint Cracker Jacks graded as authentic.

Nat Turner is well know collector of modern basketball cards. He has been trying to buy PSA for a while with the intention of improving the grading industry. Shouldn't we give him a chance before implying that he is unethical without any evidence?

[slightlyrounded]

Originally Posted by rats60

Why would we want a collector to grade our cards? We would never be able to get our reprint Cracker Jacks graded as authentic.

Nat Turner is well know collector of modern basketball cards. He has been trying to buy PSA for a while with the intention of improving the grading industry. Shouldn't we give him a chance before implying that he is unethical without any evidence?

This.

I can't think of a more promising turn for PSA than having Nat Turner involved: A young, passionate, tech-savvy collector with an equal respect for modern and vintage sides of the hobby. Also someone who has been vocal about PSA's shortcomings over the years.

Unfortunately, there's are a lot of legacy issues that the new owners will be forced to navigate and hopefully they'll stay accountable to the community while doing so - It's all we can ask for.

[Bobbycee]

HEY!! Another Nat Turner rebellion...

[todeen]

Originally Posted by Bobbycee

HEY!! Another Nat Turner rebellion...

+1. Nice historical joke

Sent from my SAMSUNG-SM-G930A using Tapatalk

[hcv123]

While I believe "things can always get worse", I believe there is a lot more space to improve than to get worse! A passionate collector - a successful entrepreneurial investment team! I REALLY like the start of this! So much potential with the right changes! If done right - they will be light years ahead of the other grading companies!

[Rich Klein]

According to Darren Rovell's story: The average age of the current board is 73. Nat Truner is 34. I suspect the younger people who will be joining the board will be more amenable to whatever technological changes will occur.

https://www.actionnetwork.com/news/p...n=DarrenRovell

Rich

[Aquarian Sports Cards]

Originally Posted by Rich Klein

According to Darren Rovell's story: The average age of the current board is 73. Nat Truner is 34. I suspect the younger people who will be joining the board will be more amenable to whatever technological changes will occur.

https://www.actionnetwork.com/news/p...n=DarrenRovell

Rich

If the company is going private there need be no board.

[Peter_Spaeth]

Originally Posted by slightlyrounded

This.

I can't think of a more promising turn for PSA than having Nat Turner involved: A young, passionate, tech-savvy collector with an equal respect for modern and vintage sides of the hobby. Also someone who has been vocal about PSA's shortcomings over the years.

Unfortunately, there's are a lot of legacy issues that the new owners will be forced to navigate and hopefully they'll stay accountable to the community while doing so - It's all we can ask for.

Where was he vocal about PSA's shortcomings and what did he say?

[BuzzD]

Originally Posted by Peter_Spaeth

Where was he vocal about PSA's shortcomings and what did he say?

It would be no surprise if a significant dollar amount of the sale price was set aside in escrow to fund future liabilities and then released over time, say 5-10 yrs.

[Peter_Spaeth]

Originally Posted by BuzzD

It would be no surprise if a significant dollar amount of the sale price was set aside in escrow to fund future liabilities and then released over time, say 5-10 yrs.

In the purchase of a publicly held company? I doubt it.

[steve B]

Originally Posted by rats60

Why would we want a collector to grade our cards? We would never be able to get our reprint Cracker Jacks graded as authentic.

Nat Turner is well know collector of modern basketball cards. He has been trying to buy PSA for a while with the intention of improving the grading industry. Shouldn't we give him a chance before implying that he is unethical without any evidence?

I was more replying to Mattys post.

I think it would be an additional challenge to have people totally unfamiliar with cards do the grading. A lot of the mainstream cards could be taught, but if you get outside the very common stuff you need an expert.

I see many people say that's a conflict, but it's pretty much unavoidable. In my other hobbies, the expertisers are almost always collectors or dealers. And they all get items certified if not graded. (Not much point grading a unique item) The companies generally just make sure the submitter isn't the one looking at it.
It can be difficult in some small niches. I have one thing that I haven't had expertised, and the best experts in that very narrow area already know of it and whose it is from the article about it.