CLCT going private

[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.

[jbsports33]

I wish him the best and PSA, there is some conflict of interest with this. Hoping he will make the hobby better anyways, time will tell how this will go. At least this is interesting news for the hobby and something to talk about. We all know we need a little cardboard talk right now.

Jimmy

[BRoberts]

Originally Posted by Aquarian Sports Cards

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

Lol. Many, many private companies have boards of directors. Especially ones with the value of a PSA.

[Rich Klein]

Originally Posted by Aquarian Sports Cards

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

Sometimes private companies do have advisory boards, so I bet there will be more help on this.

[Aquarian Sports Cards]

Originally Posted by BRoberts

Lol. Many, many private companies have boards of directors. Especially ones with the value of a PSA.

Originally Posted by Rich Klein

Sometimes private companies do have advisory boards, so I bet there will be more help on this.

Not seeing how any of this contradicts what I said. A private company is not required to have a board. Yes many do have one, but it is not a legal requirement.

[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.

[swarmee]

So, what happens to the Grade Guarantee? Still in force? Will it still apply to cards graded before the buyout?

[Rich Klein]

Dr. Beckett who kind of, sort of, has experience in running and then selling a company had some thoughts on his podcast this AM. Interesting perspective from someone who had been there. Plus about a week ago he ran a podcast with the person who was Beckett's CEO after he sold the company. I'd suggest listening to both. Not totally similar but some crossover

https://beckettinsights.podbean.com/e/356-psa-buyout/

[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.