Interesting Lawsuit involving PSA card

[x2drich2000]

I don't recall seeing this previously, but saw this on another site and thought it was an interesting read. The card at question is modern, but the concept potentially impacts the entire card community. Thoughts?

https://www.courthousenews.com/wp-co...eit-jordan.pdf

[sycks22]

Sucks for everyone involved. Losing out on $70k+ on a card is never easy

[Flintboy]

Just read through this, doesn’t PSA also share the blame here for grading this card a 10 in the first place? Why wouldn’t Spence also tag PSA in the lawsuit as well?

[Tyruscobb]

If I accurately read the complaint, the plaintiff originally demanded reimbursement ($19,999.99) and 10% per annum interest to settle the matter a few months ago. The defendant’s attorney fee and expenses will surely exceed the originally demanded amount.

[swarmee]

Doesn't major PSA supercollector Donald Spence have enough knowledge to inspect cards he receives for signs of tampering or being counterfeit before accepting them and putting them into his set registry? I would say he shares in the blame for this situation.

If the holder is tampered with and a fake flip was inserted, I don't think PSA could be at fault.

For what it's worth, this card in PSA 10 is currently trading around $200K.

[OldSchoolBaseball]

This is brutal and could be a precedent going forward I would think. I guess there is no time limit on counterfeit cards.
Whether seller knew it was fake or not, I assume this not going his way. PSA probably has nothing to do with it as it wasn’t their original grade, flip or case.

When money is involved, the scammers always rear their ugly head at the expense of fanatical collectors.

[x2drich2000]

Originally Posted by OldSchoolBaseball

This is brutal and could be a precedent going forward I would think. I guess there is no time limit on counterfeit cards.
Whether seller knew it was fake or not, I assume this not going his way. PSA probably has nothing to do with it as it wasn’t their original grade, flip or case.

When money is involved, the scammers always rear their ugly head at the expense of fanatical collectors.

I think an argument could be made that PSA should have some liability. They knew of the card and were provided scans of the card and case in 2017 when Spence had the card removed from another users registry so it could be added to his. At that point they had an opportunity see an image of the card and case and did not question its authenticity. By allowing Spence to add the card to his registry, I could see an argument being made that they confirmed the card and holder as being authentic By not only allowing the card to be added to the registry but taking an active role to make that happen.

[samosa4u]

Originally Posted by swarmee

Doesn't major PSA supercollector Donald Spence have enough knowledge to inspect cards he receives for signs of tampering or being counterfeit before accepting them and putting them into his set registry?

I'm very surprised by this as well.

[peanuts]

Originally Posted by Flintboy

Just read through this, doesn’t PSA also share the blame here for grading this card a 10 in the first place? Why wouldn’t Spence also tag PSA in the lawsuit as well?

If you read through the suit, Sec. G,¶27, it states that PSA determined that the slab had been tampered with, and that the flip was a fake.
Guessing that the seller took a S/N of a 10 that wasn't in a registry, printed it up, and placed it over a real PSA flip with the old holo backing.

[swarmee]

Edit: I thought poster before you was talking about the initial purchase timeframe of 2017, not 2020.

More likely, IMO, is that the seller is telling the truth and bought a counterfeit, that they accidentally passed on. I have never heard of them before, and I've been reading trimming and fraud threads for 3 years.

At $200K each, think of how many trimmed "PSA 10" Jordan rookies are susceptible to being outed and would cost the Grade Guarantee at current market value.

Will be interesting to see what happens differently in Santa Ana when Nat Turner and new ownership team make some recommendations.

[Flintboy]

Originally Posted by peanuts

If you read through the suit, Sec. G,¶27, it states that PSA determined that the slab had been tampered with, and that the flip was a fake.
Guessing that the seller took a S/N of a 10 that wasn't in a registry, printed it up, and placed it over a real PSA flip with the old holo backing.

My bad, I obviously missed that page.

[drcy]

I'm not a lawyer, and there are many lawyers to correct me if I'm wrong, but I thought you only get what you paid not any appreciation or current value.

[Directly]

With all these fake slabbed Jordan's RC problems, has this been found with Beckett graded card holders too where someone switched cards/labels or faked Beckett holders ?

[Jcfowler6]

We are all at fault for collecting numbers and not cards.


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