Collectors (PSA) Acquired SGC

[StraightRaceCards]

Do you think this will drop prices of SGC slabs at all? PSA has always had a slight premium, but maybe the gap increases.

As an SGC guy, this may be an opportunity to look at buying more in the coming year.

I’ve always liked how quick SGC’s turnaround was and great service.

Interested to see how that plays out with collectors.

[vintagerookies51]

Aesthetics have always been the driver for me, which I think SGC's black slabs are significantly better for. Might make me rethink this going forward...

[Yoda]

I guess Dave Foreman just couldn't resist a big payday. Stuff and MONEY trumps all.

[calvindog]

Originally Posted by Yoda

I guess Dave Foreman just couldn't resist a big payday. Stuff and MONEY trumps all.

Dave doesn’t work in the Peace Corps, he runs a business and has a family. And there have been plenty of times he could have sold SGC but didn’t because he didn’t want to leave SGC customers holding the bag. He felt comfortable this time because SGC will largely remain SGC but with improvements that only Collectors can provide. It’s human nature to presume the worst, and some trepidation is understandable. But I don’t believe the sky is falling, I think SGC will become a better version of itself.

[Vintageclout]

Originally Posted by calvindog

Dave doesn’t work in the Peace Corps, he runs a business and has a family. And there have been plenty of times he could have sold SGC but didn’t because he didn’t want to leave SGC customers holding the bag. He felt comfortable this time because SGC will largely remain SGC but with improvements that only Collectors can provide. It’s human nature to presume the worst, and some trepidation is understandable. But I don’t believe the sky is falling, I think SGC will become a better version of itself.

+1,000….well said Jeff!

[Peter_Spaeth]

Rumor on Blowout that Nat is also looking to sell Goldin Auctions.

[Snowman]

Originally Posted by Peter_Spaeth

Rumor on Blowout that Nat is also looking to sell Goldin Auctions.

I heard that as well. Sounds like he doesn't think the juice is worth the squeeze and just wants to cut bait, if true.

[D. Bergin]

Originally Posted by Peter_Spaeth

Rumor on Blowout that Nat is also looking to sell Goldin Auctions.

Hmmm, would have thought he'd use SGC to funnel more vintage cards through Goldin, just like he does with PSA.

IMO, Goldin isn't going to be worth nearly as much without the PSA connection.

[bigfish]

Originally Posted by calvindog

Dave doesn’t work in the Peace Corps, he runs a business and has a family. And there have been plenty of times he could have sold SGC but didn’t because he didn’t want to leave SGC customers holding the bag. He felt comfortable this time because SGC will largely remain SGC but with improvements that only Collectors can provide. It’s human nature to presume the worst, and some trepidation is understandable. But I don’t believe the sky is falling, I think SGC will become a better version of itself.

Spot on.

I would like to say that if Dave F was running the Peace Coepa I do think he would de a great job.

[Fuddjcal]

Originally Posted by calvindog

Dave doesn’t work in the Peace Corps, he runs a business and has a family. And there have been plenty of times he could have sold SGC but didn’t because he didn’t want to leave SGC customers holding the bag. He felt comfortable this time because SGC will largely remain SGC but with improvements that only Collectors can provide. It’s human nature to presume the worst, and some trepidation is understandable. But I don’t believe the sky is falling, I think SGC will become a better version of itself.

well put, as only you can...

"Most things that I worry about, never happen anyway".

[Yoda]

Originally Posted by calvindog

Dave doesn’t work in the Peace Corps, he runs a business and has a family. And there have been plenty of times he could have sold SGC but didn’t because he didn’t want to leave SGC customers holding the bag. He felt comfortable this time because SGC will largely remain SGC but with improvements that only Collectors can provide. It’s human nature to presume the worst, and some trepidation is understandable. But I don’t believe the sky is falling, I think SGC will become a better version of itself.

Jeff, I wasn't attacking Dave, despite a few ethics concerns I may have, only that he took his megabucks when the right opportunity came along, just like most sane people would. Money drives the sports card hobby, just as it does for the whole economy. Money drives human emotions, too, with greed being one of the worst. Just look at all the devious practices going on in our own industry.
And, I have to say, I don't think Dave and the Peace Corps would have been a good fit.

[calvindog]

Originally Posted by Yoda

Jeff, I wasn't attacking Dave, despite a few ethics concerns I may have, only that he took his megabucks when the right opportunity came along, just like most sane people would. Money drives the sports card hobby, just as it does for the whole economy. Money drives human emotions, too, with greed being one of the worst. Just look at all the devious practices going on in our own industry.
And, I have to say, I don't think Dave and the Peace Corps would have been a good fit.

He did what every Net 54 member would have done. The only difference is that he got the offer and no one did on Net 54. That might explain some of the sour grapes.

[ElCabron]

Is it this?:

Originally Posted by calvindog

there have been plenty of times he could have sold SGC but didn’t because he didn’t want to leave SGC customers holding the bag. He felt comfortable this time because SGC will largely remain SGC but with improvements that only Collectors can provide.

Or is it this?:

Originally Posted by calvindog

He did what every Net 54 member would have done. The only difference is that he got the offer and no one did on Net 54.

It sounds like maybe you actually do think Dave is in the peace corps and only refrained from selling because of his selfless dedication to the SGC customer base. Not because the offer wasn't right for him until now.

Regardless, it's no one's business why he sold or how much he got. When you own a business, you get to sell whenever you want, for as much or as little as you want.

I'm just grateful Dave held out as long as he could in order not to keep us collectors holding the bag. What a selfless act of hobby benevolence!

[calvindog]

Well, they're not incongruent. He had offers over the years that would have made him very wealthy but didn't take them in part because he felt that SGC customers could get screwed. And that is what largely made the prior offers not right for him. I know, because I spoke to him during that time period about them.

Now he got the offer he wanted and the comfort he needed for SGC customers.
Had he taken a prior offer, there would be outrage from his customer base, instead of what we have here, which is a mix of optimism, anguish and jealousy.

[Leon]

He should buy you 2 dinners.

Originally Posted by calvindog

Well, they're not incongruent. He had offers over the years that would have made him very wealthy but didn't take them in part because he felt that SGC customers could get screwed. And that is what largely made the prior offers not right for him. I know, because I spoke to him during that time period about them.

Now he got the offer he wanted and the comfort he needed for SGC customers.
Had he taken a prior offer, there would be outrage from his customer base, instead of what we have here, which is a mix of optimism, anguish and jealousy.

[parkplace33]

Originally Posted by calvindog

Well, they're not incongruent. He had offers over the years that would have made him very wealthy but didn't take them in part because he felt that SGC customers could get screwed. And that is what largely made the prior offers not right for him. I know, because I spoke to him during that time period about them.

Now he got the offer he wanted and the comfort he needed for SGC customers.
Had he taken a prior offer, there would be outrage from his customer base, instead of what we have here, which is a mix of optimism, anguish and jealousy.

Can you explain the comfort? Because I am not seeing that for SGC collectors (unless further information is coming out?).

[Rhotchkiss]

Originally Posted by calvindog

Well, they're not incongruent. He had offers over the years that would have made him very wealthy but didn't take them in part because he felt that SGC customers could get screwed. And that is what largely made the prior offers not right for him. I know, because I spoke to him during that time period about them.

I can vouch for this. I had similar discussions. Dave is proud of SGC and he feels loyal to his customer-base, and he declined previous offers, at least in part, because it was not good for the brand, his customers, and employees. I had not spoken to Dave in several months (although we did text recently and I congratulated him), so I cannot vouch for the second part of Jeff’s post. But if the past is any indication of the present, I suspect Jeff’s second paragraph is accurate. That said, it’s now collectors’ company and I suppose they will do with SGC what they will. Time will tell.

Like many, I too have many cards in SGC flips. I think selling now would be a terrible idea, because buyers are likely vultures looking for panicked sellers. It may be worthwhile considering crossing cards, although I am not sure that is necessary, as it will always be an option (and perhaps PSA will give some deal/facilitate it down the line). As far as buying SGC flips, if I see a card I want in an SGC flip, I will buy it with confidence; indeed, I wouldn’t mind getting a deal bc people are scared to buy. Trust me, I wish this wasn’t happening- because it creates a lot of uncertainty and more likely downside than upside - but, for me, it’s business as usual. I would be much more pessimistic had SGC closed down, or been bought by Beckett or some lesser company.

End of the day, if I can get cards in SGC flips at a discount bc people are scared to buy, great!

[UKCardGuy]

Wow. That's disappointing news. Better get those SGC submissions in while we can.

[Johnny630]

Originally Posted by StraightRaceCards

Do you think this will drop prices of SGC slabs at all? PSA has always had a slight premium, but maybe the gap increases.

As an SGC guy, this may be an opportunity to look at buying more in the coming year.

I’ve always liked how quick SGC’s turnaround was and great service.

Interested to see how that plays out with collectors.

The big Question to Me is Will Submissions to SGC Continue to stay high at this level or will they drop off????? Time Will Tell...What's the Board Think?

[Peter_Spaeth]

If you're worried, it's easy enough to stop buying SGC cards. Less clear what to do if you own a lot, particularly in the prior versions of the flip. Best course probably not to panic.

[parkplace33]

Originally Posted by Peter_Spaeth

If you're worried, it's easy enough to stop buying SGC cards. Less clear what to do if you own a lot, particularly in the prior versions of the flip. Best course probably not to panic.

100 percent agree. I have seen posts on other sites asking if they should dump their SGC collection, sell now, etc.

I say stay the course and wait to hear how it plays out, then decide.

I will say that I do have trepidation in buying SGC slabs right now, but that could change when new information comes out.

[Rhotchkiss]

Originally Posted by parkplace33

I will say that I do have trepidation in buying SGC slabs right now, but that could change when new information comes out.

Personally, I have no concerns on most cards I collect. SGC is a very reputable company and their grade and slabs stand scrutiny in the marketplace, unlike GAI or PRO. They are being acquired, not going out of business like GAI or PRO. And, they are being acquired by PSA, "The King of grading". I think there is an argument that SGC flips may get a bump as a result of their being acquired, and becoming part of PSA. I wont buy SGC hoping that becomes the case, but I currently have no concern whatsoever with SGC slabs.

From Jeff L: "Dave doesn’t work in the Peace Corps, he runs a business and has a family. And there have been plenty of times he could have sold SGC but didn’t because he didn’t want to leave SGC customers holding the bag. He felt comfortable this time because SGC will largely remain SGC but with improvements that only Collectors can provide. It’s human nature to presume the worst, and some trepidation is understandable. But I don’t believe the sky is falling, I think SGC will become a better version of itself"

Well said Jeff, I agree with you 1000%. Mazel to Dave, who held out for years looking for an option that would not leave "SGC customers holding the bag". Another reason I believe this deal will be fine for SGC customers and collectors.

[Exhibitman]

Originally Posted by Rhotchkiss

Personally, I have no concerns on most cards I collect. SGC is a very reputable company and their grade and slabs stand scrutiny in the marketplace, unlike GAI or PRO. They are being acquired, not going out of business like GAI or PRO. And, they are being acquired by PSA, "The King of grading". I think there is an argument that SGC flips may get a bump as a result of their being acquired, and becoming part of PSA. I wont buy SGC hoping that becomes the case, but I currently have no concern whatsoever with SGC slabs.

From Jeff L: "Dave doesn’t work in the Peace Corps, he runs a business and has a family. And there have been plenty of times he could have sold SGC but didn’t because he didn’t want to leave SGC customers holding the bag. He felt comfortable this time because SGC will largely remain SGC but with improvements that only Collectors can provide. It’s human nature to presume the worst, and some trepidation is understandable. But I don’t believe the sky is falling, I think SGC will become a better version of itself"

Well said Jeff, I agree with you 1000%. Mazel to Dave, who held out for years looking for an option that would not leave "SGC customers holding the bag". Another reason I believe this deal will be fine for SGC customers and collectors.

I agree. My personal take is that SGC would be a useful brand to add to the Collectors omniverse because it grades lots of stuff that PSA does not. Why not capture that revenue under the PSA roof, especially when it can be integrated into the Goldin auction flow and the PSA vault? Best of all, PSA can offer SGC registry participants a discounted opportunity to cross to the PSA registry; in effect, make the customers pay to transfer the pop from SGC to PSA. It is similar to what Fanatics did in 2021, when it effectively created that sort of flow by picking up PWCC (it already has director and investor overlap with CCG: Michael Rubin, founder and executive chairman of Fanatics, is part of the group that acquired CGC in 2021).