PWCC Statement on Recent Card Trimming Concerns

[benjulmag]

Originally Posted by vintagetoppsguy

Some of you guys have a really short memory. Remember the Joseph Pankiewicz threads? Cards going from 7s to 10s? Whatever came of that? Other than being exposed, nothing. If you're not sure what I'm referring to, just search this site by that name.

Same thing will happen in this case. Nothing. I keep repeating it, but most don't want to hear it. The grading companies are in on it. It's all fixed. I alluded to that over 5 years ago (post 429 in the thread below). Still the same 5 years later. Nothing changed, nothing will change. Most are focusing on the wrong parties involved instead of focusing on PSA. Until the focus is put on PSA, nothing changes. One thing I can say is that Brent has posted a few times about this subject. How many times has PSA posted? And that's all good. Keep ignoring PSA's involvement and using their service and buying their cards. We'll have this same conversation in another 5 years when another doctor is caught.

http://www.net54baseball.com/showthread.php?p=1274471

A new grading company (or SGC if it has the gumption and $$$ to go for it) comes into being employing the newest technology PROVING that a PSA graded card is altered. The card is then returned to PSA under the grading guaranty. Perhaps PSA will fight it tooth and nail. But (in theory) they should loose (assuming there are not statute of limitation or privity problems with invoking the guaranty). As noted in previous posts, the potential exposure to PSA will far exceed its reserves for this contingent liability, and might be great enough to wipe them out.

As a practical matter, this scenario is how I see change coming. But even if such a new grading company comes into being, it will still require the next step of enough misgraded cards being exposed to create the market reality that a card slabbed under the old method will not hold its value until regraded.

With 5, 6 and 7 figure cards now the new norm, how can such a new grading system employing the newest technology eventually not come into being? I believe it is only a matter of time. And at that point, I think accountability will not be far behind.