Collectors Vault redemption fee

[BobC]

Originally Posted by russkcpa

Goldin had a 1% fulfillment fee which I had no problem with. Some of my cards are very valuable and any AH would be willing to pay that on my behalf to auction my cards. Goldin ALSO allowed my to establish insurance values which they had to accept and then posted on my vault pages. Collectors only posts values for PSA graded cards....really stupid. I have several valuable SGC and BVG cards as well as some high end dual graded cards. They refuse to assign values non PSA items. They even refuse to assign a value to PSA dual graded cards. these items.

Hmmmm, interesting. I guess I can see their point in not wanting to possibly do anything to promote some other TPG by posting values that may be comparable to PSA graded cards. I'm assuming (hoping) them not posting values of non-PSA cards, while not what you'd like, doesn't end up costing you anything out of pocket. I would think that Collectors would still be bound by your 1% fulfillment fee that you had with Goldin. I'd still be sure to confirm that as soon as you can with them though.

Another silly question maybe, but just so I'm clear, what exactly did Goldin, and now Collectors, mean by this "fulfillment fee"? Is that a charge you have to pay to remove your cards from their vault, whether by returning them to you, or you having them sell or otherwise move them elsewhere for you? And if so, is that then in lieu of paying them rent on a monthly or some other periodic basis for them keeping your cards in their vault? And also if so, how or what are they basing that 1% "fulfillment fee" on then? Is it based on an agreed upon value of the cards when you first put them into their vault, or do they base it on the value of the cards when you take them out or otherwise remove them, so they get to charge you more if the value increases over time while the cards are held in their vault? My understanding is that PSA decides the value of cards they grade, so they can control what they may have to pay people under their guaranty and so on (and also so they can upcharge people on the grading fees). Are they, as Collectors, maybe doing the same thing in regard to valuing items in their vault so they alone get to determine what the "fulfillment fee" you end up paying is, and you really have no say so in it? Once again, I'd double check the Goldin vault agreement/contract you actually signed/agreed to and see what it says, and then make sure Collectors is abiding by that as well.

Would also be curious to see how Collectors, which also owns PSA, would actually value other TPG cards they are holding in their vault for you, for these "fulfillment fee" calculation purposes. Would they discount say an SGC comparably graded card's value to what they would value it at if in a PSA graded holder, and thus charge you less of a "fulfillment fee", or would they jack it up to charge you what a comparably graded PSA card would go for, to get that extra few dollars out of your pocket? Interesting questions I'd love to know the answers to. LOL