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#1
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GAI files for Chapter 11 bankruptcy protection
Posted By: Scott L
In case anyone was interested. |
#2
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GAI files for Chapter 11 bankruptcy protection
Posted By: James Gallo
I guess now there really won't be a Monday opening... |
#3
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GAI files for Chapter 11 bankruptcy protection
Posted By: Bottom of the Ninth
Although I am no attorney, Chapter 11 suggests a reorganization. GAI needs to apply for TARP 2 and get some bail out money. Seems every other business is getting some. |
#4
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GAI files for Chapter 11 bankruptcy protection
Posted By: Fred C
Warning, if you enter the web page associated with the link above you will see one of the few things (other than PSA) that a few N54 contributors likes to rip into... Wonka used to love to create nice collages in honor of the ripee... |
#5
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GAI files for Chapter 11 bankruptcy protection
Posted By: Scott Dango
should the "first graded" examples hold their value since that was when they were the toughest (most accurate)? |
#6
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GAI files for Chapter 11 bankruptcy protection
Posted By: Steve
No, first graded means nothing, could have been yesterday. |
#7
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GAI files for Chapter 11 bankruptcy protection
Posted By: Matt E.
To me it seems like quite a bit of debt compared to assets. Up to $10 million....Wow! |
#8
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GAI files for Chapter 11 bankruptcy protection
Posted By: Jimmy
I wish they would just get out if they are having problems, sorry to hear this but sometimes you just have to stop and start over |
#9
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GAI files for Chapter 11 bankruptcy protection
Posted By: JimCrandell
They had the best grader in the hobby and a loyal customer base among dealers--many of whom followed them over to GAI. This was not enough however |
#10
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GAI files for Chapter 11 bankruptcy protection
Posted By: Richard Simon
For those who might have been unaware, ebay recently added GAI as one of their "approved" autograph authenticators. |
#11
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GAI files for Chapter 11 bankruptcy protection
Posted By: DJ
Global was added to the approved list many years ago. In regards to autographs, they have had a rotating circle of authenticators and who knows who authenticated what at any time. This doesn't mean that eBay isn't afraid to take into consideration the opinions of others in regards to yanking "suspect" pieces. So you could have purchased a piece with a GAI cert a few years ago (that could or could not be good, but there was trust in hand) and you throw it up now, it could very well be pulled from the site as being fraudulent. |
#12
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GAI files for Chapter 11 bankruptcy protection
Posted By: Dave F
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#13
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GAI files for Chapter 11 bankruptcy protection
Posted By: Jodi Birkholm
"Save My Slabs"? |
#14
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GAI files for Chapter 11 bankruptcy protection
Posted By: JimCrandell
Dave, |
#15
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GAI files for Chapter 11 bankruptcy protection
Posted By: Jim VB
"More importantly, when will SCD go under? " |
#16
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GAI files for Chapter 11 bankruptcy protection
Posted By: JimCrandell
For historical accuracy, I should mention that at one time I thought that GAI would be one of the three big card grading companies. I had even given thought to crossing my entire collection to GAI if something happened to PSA. Mike came over my house to see my collection and basically quoted me a price that he would to it for free($1 per card for crossover but offset by his grading another 10-20,000 cards for little if any charge. He would set up shop in my basement and grade 35-45,000 cards there. I would then be a spokesman for GAI. |
#17
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GAI files for Chapter 11 bankruptcy protection
Posted By: boxingcardman
Not that there's anything wrong with that...but he was the head grader at GAI and presided over the overgrading, trimmed grading, etc., that buried the company. Why he is held in esteem by some when his recent work product is so unimpressive baffles me. |
#18
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GAI files for Chapter 11 bankruptcy protection
Posted By: JimCrandell
I don'yt think it was the grading that buried the company, it was the company's customer service and their constant overpromising, underdelivering and failing to meet deadlines. Baker is as good as they come in grading cards and I consider him to be an ethical guy. |
#19
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GAI files for Chapter 11 bankruptcy protection
Posted By: robert a
Mike Baker: |
#20
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GAI files for Chapter 11 bankruptcy protection
Posted By: Bob
I have a lot of really nice caramel cards in GAI holders which aren't trimmed, altered or recolored and they match up fairly consistently with the ones I have in SGC holders, grade-wise. |
#21
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GAI files for Chapter 11 bankruptcy protection
Posted By: E, Daniel
Being real Jim, yours has been the lone prolonged voice on this board lauding Mike Baker over and over as one of the 'best in the business' over the last couple years. |
#22
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GAI files for Chapter 11 bankruptcy protection
Posted By: JimCrandell
I agree with part of what you say. I don't think I said I considered moving it. I wanted to have options and I also talked briefly with Dave about crossing the whole thing. |
#23
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GAI files for Chapter 11 bankruptcy protection
Posted By: E, Daniel
Now THAT would make sense Jim....but somehow I'm guessing you wouldn't get cut the right kind of deal to make it worth your while. |
#24
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GAI files for Chapter 11 bankruptcy protection
Posted By: JimCrandell
Everybody is entitled to their opinion but I am happy with the PSA certificate. The market seems to be as well. |
#25
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GAI files for Chapter 11 bankruptcy protection
Posted By: JimCrandell
Daniel, |
#26
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GAI files for Chapter 11 bankruptcy protection
Posted By: dan mckee
Some people Adam? Looks like only Jim is praising him. My favorite at GAI was Danny, he was always very nice to work with and showed interest. Since Mike was grading it sounds like, I didn't get to converse with him as much. But he did seem like a good guy. Very sorry to hear about the story above, that stinks. Dan. |
#27
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GAI files for Chapter 11 bankruptcy protection
Posted By: E, Daniel
I think I will be the first to say it, it changes the long held uberhold of PSA prices mythology..... |
#28
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GAI files for Chapter 11 bankruptcy protection
Posted By: Red
It's the same up and coming dream you've hear the last decade. Bargain bulk auction house submissions pump up numbers but where do the cards go. The registries do not lie. They are proof that there are collectors for the product out there. Compare all the major T-Card sets, Goudey, Play Ball, Bowman, Topps. Where are the collectors? |
#29
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GAI files for Chapter 11 bankruptcy protection
Posted By: E, Daniel
Please Red, registries show but a tiny fraction of collector holdings and sets. |
#30
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GAI files for Chapter 11 bankruptcy protection
Posted By: dan mckee
I left a friends house last week who has 2 tobacco sets less the biggies, many exhibit sets, a signed exhibit set, multiples of most of the Topps sets and an unbelivable memorabilia collection. Some cards had rubber bands loosly around them and you won't find a single slab in that house! God Bless him!! You can't fathom the amount of material that is out there that is not accounted for on the internet by registries or what have you. |
#31
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GAI files for Chapter 11 bankruptcy protection
Posted By: marty q
jim, i have to disagree with you on this one, they ""are"" out of buisness because of bad grading! i got this mnatle with a set i bought, when i seen it i was not surpised, from 3 feet away you can see the top and bottom trim, uneven as if done in the dark. i cracked it out as use it as a filler. this will never hit ebay and be passed as a nm card. my loss yes, but worth it, doing my very small part, and i was raised right, i could never sell this card like this. but gai had no problem grading it. unless they really stunk, knowing this would be in the population of vintage cards just to make sub. money is very bad. and if mr.baker over seen things like this i would never want him at psa, or sgc, who cares how good he is.... |
#32
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GAI files for Chapter 11 bankruptcy protection
Posted By: Bob
I agree with Dan 100%. There are some old timers out there who have incredible collections of ungraded cards. Maybe no one can match Lionel Carter but there are some real treasure troves around. I know one good friend who has an incredible collection of caramel cards which he purchased in the 70's and 80's which are sitting in a box, all raw, in his attic. There is also a near set of T213-2s in there. He hasn't even checked on them in at least 15 years despite my pleas. He was a caramel card collector when caramel cards weren't cool I remember rolling my eyes at him when we pursued the mid 1950 and 1960 cards and when I first started collecting tobacco cards. I thought he was buying "junk" by grabbing up all those E90-E99 cards. He certainly got the last laugh on all of us. |
#33
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GAI files for Chapter 11 bankruptcy protection
Posted By: Frank Wakefield
The Registries do not lie, I can accept that. |
#34
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GAI files for Chapter 11 bankruptcy protection
Posted By: Dan Bretta
There are three collectors in my town who have unbelievable collections, but do not get cards graded...One of them wanted to sell his cards and I told him he should get the good ones (Mantles) graded and he did...Of course he was not happy with PSA 6 when in his mind his cards were MINT so that was the end of that....and he decided he would just keep his cards. |
#35
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GAI files for Chapter 11 bankruptcy protection
Posted By: keyway
I have many grade cards from GAI. Both Caramels and Tobacco's. Never had a problem with GAI grading or service. To say that cards in GAI holders are worthless is somewhat ignorant. Frank |
#36
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GAI files for Chapter 11 bankruptcy protection
Posted By: boxingcardman
Just worth less. Plus, I would never buy a GAI card without being able to go over it in person or with a strong return policy from a good dealer; just too many horror stories out there. |
#37
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GAI files for Chapter 11 bankruptcy protection
Posted By: Jeff Lichtman
Marty, a) you're a good man and b) that is the worst trim job I've just about ever seen. The card looks like it was cut with kindergarten scissors. When GAI re-opens on Monday you should have a talk with them. Oh wait.... |
#38
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GAI files for Chapter 11 bankruptcy protection
Posted By: Frank L.
I have several T206 HOF's in GAI holders. |
#39
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GAI files for Chapter 11 bankruptcy protection
Posted By: Jeff Lichtman
Frank, I'd cross them to SGC or PSA. No question that prewar cards in GAI holders are discounted by at least 1/2 to 1 full grade on the open market. |
#40
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GAI files for Chapter 11 bankruptcy protection
Posted By: Dan Paradis
I had 2 cards that I had graded by GAI (purchased), then PSA, then SGC. Both |
#41
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GAI files for Chapter 11 bankruptcy protection
Posted By: Dan Bretta
Dan, you realize that you now have to crack out that Jennings and send it to Beckett don't you? |
#42
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GAI files for Chapter 11 bankruptcy protection
Posted By: Michael Steele
I also got the GAI 3 to SGC 30 treatment a couple of times and decided GAI was out. Maybe they overgraded to get business as the upstart 3rd wheel but from a long term perspective, that was not going to work. |
#43
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GAI files for Chapter 11 bankruptcy protection
Posted By: Mike Q.
As per Bruce's post on auction houses going bust, what happens to people's cards that are sitting at GAI? |
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