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#101
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Posted By: JimCrandell
What do you mean we? |
#102
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Posted By: CoreyRS.hanus
MY GOD!!!!! WOW!!! |
#103
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Posted By: JimCrandell
Corey, |
#104
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Posted By: Steve
Joe replied to my email and he said: |
#105
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Posted By: Jeff Lichtman
Steve, I don't mean to split hairs but if PSA finds that an altered card is in one of their holders will they refund the cost of the card to the buyer or will they simply refund SMR value? |
#106
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Posted By: barrysloate
I responded to Steve's email that Joe's answer was unclear. What exactly is that warranty? |
#107
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Posted By: CoreyRS.hanus
Steve, |
#108
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Posted By: Jeff Lichtman
Barry, I suspect that if an altered card in a PSA holder was sold in a Mastro auction for, let's say, 10K, PSA won't be refunding that money anytime soon. Maybe I'm wrong, but I doubt it. |
#109
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Posted By: Steve
Barry can do as he pleases. |
#110
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Posted By: Jeff Lichtman
Steve, I'm sure you can appreciate that a warranty is not a warranty if one purchases an altered PSA card for 10K and PSA offers 2K to take it off your hands. |
#111
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Posted By: barrysloate
Corey- I deleted Steve's email after I responded to him and for some reason can't find it. It was just a single sentence, to the effect that if PSA finds something on a resubmitted card, the warranty will apply. |
#112
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Posted By: leon
I am not sure but I think the warranty is 3 yrs or 36,000 miles, whichever comes first.... |
#113
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Posted By: barrysloate
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#114
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Posted By: CoreyRS.hanus
I'm going to choose to not read into this anything other that PSA intends to act in a completely reputable manner. They will take out of circulation re-submitted cards that they determine are altered and, pursuant to their warranty, offer fair compensation to the card owner. |
#115
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Posted By: Tom Nieves
The PSA Financial Guarantee Of Grade & Authenticity |
#116
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Posted By: CoreyRS.hanus
Thanks for that information. |
#117
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Posted By: Bottom of the Ninth
PSA has always had a guarantee. It used to be on their website in several different places with a simple explanation. It was also footnoted in their financial statements. I am not sure if the guarantee is still in either of those places. However, present or not, I am very confident that Joe's claim as to a warranty, is nothing more than empty words. |
#118
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Posted By: Steve
Jeff I agree with you. |
#119
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Posted By: barrysloate
One of the things I don't understand about the warranties is that if a grading company is forced to buy back a card, at what level will it be? |
#120
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Posted By: CoreyRS.hanus
"PSA guarantees that all cards submitted to it shall be graded in accordance with PSA grading standards and under the procedures of PSA." |
#121
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Posted By: James Gallo
I have been keeping up with this thread and in my opinion this would solve all the problems. |
#122
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Posted By: Steve
Corey |
#123
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Posted By: leon
Joe O never called me back. Some might say that it was a stacked deck and I wouldn't be fair or objective and it was a no win for him. That is far from the truth. I would have reported back as to exactly what he said and would have even made sure by reading back his quote(s) to him to be addressed on the board so as NOT to misinterpret anything. I am not sure how I could have been more fair. Also, this board is very open and Joe could even come onto this board and make one statement about their company policies......It can be done effectively and has been done in the past....best regards |
#124
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Posted By: CoreyRS.hanus
Your damages would be to put you in the same position you would have been in had the grading company not missed the alteration when you first submitted the card. That would be then $200 plus accrued interest thereon (and the grading company would be entitled to sell the card and retain the proceeds). You would not be entitled to lost profits (i.e., the difference between what you paid for the card and what it is worth today). The reason for that is if the grading company had detected the alteration at the outset, you would never have purchased the card and therefore would never have had the opportunity to earn that profit. In regard to an argument that you would have put the $200 into another card that would have similarly appreciated, damages such as that would be regarded as too speculative and therefore unawardable. |
#125
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Posted By: CoreyRS.hanus
Steve, |
#126
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Posted By: Bruce Babcock
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#127
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Posted By: Steve
I agree with you how it appears to read and I have a call into SGC to request clarification. |
#128
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Posted By: CoreyRS.hanus
Dave Forman and I had been playing telephone tag and we finally spoke this morning. He has authorized me to post the following information. |
#129
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Posted By: Steve
That is great to know, btw didn't he buy this company almost 3 years ago? |
#130
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Posted By: Anthony N.
<<James, interesting though that in regard to the Lionel Carter collection, arguably the most significant offering of high grade post-war cards in recent memory, Mastro chose to go with SGC over PSA.>> |
#131
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Posted By: CoreyRS.hanus
Steve, |
#132
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Posted By: Glyn
We stand behind EVERY card in our holders, and the guarantee is not just for 30 days nor is it limited to the submitter of the card. The website will be ammended to reflect the current policy as soon as we possible. We thank everyone for there support of SGC and if you have any other questions please give me a call. |
#133
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Posted By: Steve
Corey |
#134
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Posted By: LetsGoBucs
Well this is certainly a tough thread to keep track of |
#135
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Posted By: Brian
<<not one of the 500 largest holders of psa graded cards has or would submit their cards with the sole purpose of ridding the hobby of altered cards>> |
#136
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Posted By: JimCrandell
Brian, |
#137
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Posted By: Brian
I am sure some might pay for it but not me. I don't believe for a second you have an accurate list of the top 500. And I certainly don't believe you know each of those 500's collecting strategy and/or criteria by which they might resubmit. |
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