New PSA prices

[perezfan]

Originally Posted by Bigdaddy

The problem is, there is little/no competition. Or at least not enough to make a dent.

And as far as raising prices, I think it is more probable that other graders follow suit instead of taking advantage of the price differential.

That would be really dumb on their part, since this is their long-awaited chance to make a dent in PSA's market share. Especially for CSG, who just announced their pricing structure. I'm sure they don't want to alienate potential new customers before they've even gained a foothold in the market.

As far as making dumb decisions goes, nothing would surprise me with regard to SGC. They seem to somehow hang on in spite of themselves. When the market comes crashing back down to earth, it might be tougher for them to thrive (or even survive).

[Exhibitman]

Did anyone honestly think a bunch of Wall Street assholes paid up for the company to do collectors any favors? These guys are pimps. Taking this company private, dramatically increasing the revenue without increasing costs, and leaving a giant backlog of revenue, that's the formula for selling it on the street corner with an IPO. I would bet that they take it public again after they have sufficient performance to show proof of concept. Central to the plan is one fact: PSA customers are sheep. They will line up to hand over their money as long as the PSA imprimatur makes money with unexpected high grades. The chance for freakish spontaneous wealth is too strong to mitigate against submissions. Only the poor set collectors--a very small group of the overall herd--will cry foul and walk away rather than spend $20 to slab a Sixto Lezcano card.

The silver lining is that everyone who has an inventory of PSA graded cards to sell can raise their prices because the submission cost for a collector to send in a raw card just jumped to the card price plus $20. I had been offering up graded cards for $10 MB. Now it is $15 going forward plus $5 to ship. Eventually, the PSA sheep will do the math and pay it. They always do.

[D. Bergin]

Originally Posted by Exhibitman

Did anyone honestly think a bunch of Wall Street assholes paid up for the company to do collectors any favors?

It's amazing how many people still think Gordon Gecko is going to come in and save the company and make things right for the little guy.

[Peter_Spaeth]

Originally Posted by D. Bergin

It's amazing how many people still think Gordon Gecko is going to come in and save the company and make things right for the little guy.

Perhaps the pricing news will disabuse some of that wishful thinking.

[Peter_Spaeth]

Assuming Nat Turner is going to be a hands-on owner, this will be (I believe) a different experience for Joe Orlando who I suspect did not have a great deal of interference or even input from his prior Board -- the same Board that was willing to sell a company riding a wave of smashing success for literally no premium over the market price.

[Yoda]

Third party grading has been the most dramatic matrix shift in my long experience in the hobby; it has monetized card values in the extreme and given the graders immense power. TPG'ers were ill-prepared to meet the grading demands brought on by COVID and asset reallocation to cards, and they are clearly floundering with this massive backlog. That why I am watching closely the new grading company, CSG, and just sent them some nice '57 Topps football, including Johnny U. and Bart Starr. I just wish the name and logo didn't look like a rip-off of SGC.

[Mike D.]

Ah, crap...I missed this news last week, only discovering it when I went to submit a value submission tonight. Ugh...

[moogpowell]

My kneejerk takeaways from the price hikes.

1. Unremarkable PSA graded cards (think those worth say < $40) will be harder to find as fewer collectors will roll the dice on grading non-star cards given the higher cost. So the existing supply of unremarkable cards may slowly come off the market. That said, they may now fetch a premium as the grading, which is now pricier, is already done.

2. The priciest cards may experience pricing pressure but I am less sure of this. If someone is paying a lot to slab a card, they will save it for the best cards with the most upside, so money ordinarily earmarked for lesser cards may be redirected to top cards. If the higher price is not a deterrent for grading then more supply could pressure prices.

3. I don't believe any other grader will meaningfully threaten PSA. Collectors are stuck in PSA's web.

4. If and when PSA ever can make grading as simple as having it done while you wait and lower the price, the hobby could become far more popular and dynamic. For long-term collectors, there is no pressing need to grade cards when they cost an arm and two legs to grade and take an eternity to receive.

5. I think one day, pricing, helped by technology, will come down. Over time, as volume rises, prices can come down. But for now, though the fees are confiscatory, the rationale for raising prices given a heavy backlog makes sense as a deterrent and to slow submissions. My hope is that if and when they get their act together that they can in tandem speed the turnaround process and lower prices.

[perezfan]

Originally Posted by moogpowell

My hope is that if and when they get their act together that they can in tandem speed the turnaround process and lower prices.

Haha... Would you settle for one out of two? Their prices ain't coming down anytime remotely soon (if ever).

[Fred]

I thought the TPGs were starting to charge fees based on the value of the card. Is that not correct? If so, it must cost quite a bit to get, what used to be a moderately priced card, graded based on today's pricing.

Does anybody know how much it cost to have a "4" green Cobb graded 2 years ago and how much it would cost today?

[Usc1]

Only a matter of time before CSG does the same thing.

The prices are super steep but unless people stop sending them in it is not going to get any better. Venture capitalists always ruin it as they do in other industries. Same thing occurred in the luxury watch industry.

[tab]

So I wonder what I will be charged for my current express order currently in research and id since they haven’t charged me yet. A 200% price increase is ridiculous!


Who can develop some generic slabs that will interlock or stack with the PSA slabs??? I’ll make my own flip without a grade just the card info.

I don’t think the price increase will change anything.

[jb217676]

It's my understanding you will be charged whatever the rate was when you're cards were shipped to PSA, like a date stamp.

[Directly]

A Pokémon collector told me he sends cards bought in PSA holders to Beckett grading due their slabs being studier, and clearer. He claims CSG holders are better in those respects too.

So are PSA slabs really 100 percent better slab product for the money ?

I can't see how some PSA cards are graded 9's not being a 10's or visa versa, can you?==PSA doesn't break down the grades for corners, surface, edges or centering??

[Republicaninmass]

IS there some sort of monetary increase if you have the "#1 psa set" over and above the total value of the cards?

I've always thought yes, but I could be wrong, I been once or twice!

[Exhibitman]

Originally Posted by Peter_Spaeth

Perhaps the pricing news will disabuse some of that wishful thinking.

Doubtful. PSA's entire model is wishful thinking: almost anyone who submits a card, especially a pack-fresh modern card, is thinking of one thing only--freakish spontaneous wealth. If the TPGod labels my LeBron RC a 10 I make thousands of dollars, even after PSA reneges on my contract and holds it hostage for a higher fee than agreed. The few who aren't thinking of the money are thinking of their registry positions or their set compositions. Please sir, may I have a 10? Those people are the ones who will probably quit, but overall they are a pimple on the elephant's backside compared to the gamblers.


I've done it too, so I am not throwing rocks in glass houses. I paid an 'upcharge' a few years ago when my Russell RC came in a grade above what I thought it would. Happily, I might add, since the $25 fee increase bought me a $400 value increase.

[TobaccoKing4]

Originally Posted by Exhibitman

Doubtful. PSA's entire model is wishful thinking: almost anyone who submits a card, especially a pack-fresh modern card, is thinking of one thing only--freakish spontaneous wealth. If the TPGod labels my LeBron RC a 10 I make thousands of dollars, even after PSA reneges on my contract and holds it hostage for a higher fee than agreed. The few who aren't thinking of the money are thinking of their registry positions or their set compositions. Please sir, may I have a 10? Those people are the ones who will probably quit, but overall they are a pimple on the elephant's backside compared to the gamblers.


I've done it too, so I am not throwing rocks in glass houses. I paid an 'upcharge' a few years ago when my Russell RC came in a grade above what I thought it would. Happily, I might add, since the $25 fee increase bought me a $400 value increase.

This touches on something that I was wondering. What is the stated value supposed to represent? The value of the card raw, the value it would get with a reasonably predicted grade, etc?

[Kaneen]

Originally Posted by TobaccoKing4

This touches on something that I was wondering. What is the stated value supposed to represent? The value of the card raw, the value it would get with a reasonably predicted grade, etc?

I'm not 100% sure on the grading side of things (as I haven't submitted cards strictly for grading), but on the PSA/DNA side of the business with autograph authentication/grading, the "stated value" is supposed to be "what the item would sell for AFTER PSA has done it's work." And here's the real beauty of this ridiculous (subjective, speculative) pricing model...they sometimes have your item in backlog for months, so in this volatile market the "value" can change drastically from the time you submitted until the time their work is done. And if it does, they can hold your item and come back and upcharge you for the new current "value." It's good to be the King! lol

[scmavl]

I had no idea until today. Just shipped a pretty big order off a week ago. Looks like I saved some money and might beat the (increased) bottle neck by a few days. Maybe I’ll get my cards back before opening day... 2022.

[Fuddjcal]

Originally Posted by Exhibitman

Did anyone honestly think a bunch of Wall Street assholes paid up for the company to do collectors any favors? These guys are pimps. Taking this company private, dramatically increasing the revenue without increasing costs, and leaving a giant backlog of revenue, that's the formula for selling it on the street corner with an IPO. I would bet that they take it public again after they have sufficient performance to show proof of concept. Central to the plan is one fact: PSA customers are sheep. They will line up to hand over their money as long as the PSA imprimatur makes money with unexpected high grades. The chance for freakish spontaneous wealth is too strong to mitigate against submissions. Only the poor set collectors--a very small group of the overall herd--will cry foul and walk away rather than spend $20 to slab a Sixto Lezcano card.

The silver lining is that everyone who has an inventory of PSA graded cards to sell can raise their prices because the submission cost for a collector to send in a raw card just jumped to the card price plus $20. I had been offering up graded cards for $10 MB. Now it is $15 going forward plus $5 to ship. Eventually, the PSA sheep will do the math and pay it. They always do.

You're not being fair to Sixto. I want all My Cesar Cedeno cards PSA slabbed 10, because I'm anal Eddie.