Psa - regular submission are back

[parkplace33]

I received this email from psa today:

PSA continues to devote over 80% of our resources to processing the backlog. Due to continuous capacity expansion, we are now able to bring back the ‘Regular’ Service Level. Regular is for cards valued at $1499 or less and will be processed in less than 90 days door-to-door at a price of $100 per card. With the return of Regular, PSA is taking another step towards bringing back lower priced service levels in 2022.

A few thoughts:

1. I wonder if they did this because they were not getting a healthy amount of submissions at the $150 level.
2. 90 days total or 90 business days?
3. Is the lottery system they were talking about now out?
4. Will regular permanently be $100?
5. I was recent reading the backstory of Nat Turner. He has been with psa for over a year. In the past, he has bought companies and then sold them a few years later. How long does he stay at psa?

[Dead-Ball-Hitter]

Got the email as well.

So for $100.00 per card, not including shipping and insurance both ways, I can wait nervously for three months hoping they process my order as expected? I got to tell you, I’m not interested!

Many collectors are caring less about the numerical grade. Its easy to find a quality screw down or holder to display a card in.

[Peter_Spaeth]

Originally Posted by parkplace33

I received this email from psa today:

PSA continues to devote over 80% of our resources to processing the backlog. Due to continuous capacity expansion, we are now able to bring back the ‘Regular’ Service Level. Regular is for cards valued at $1499 or less and will be processed in less than 90 days door-to-door at a price of $100 per card. With the return of Regular, PSA is taking another step towards bringing back lower priced service levels in 2022.

A few thoughts:

1. I wonder if they did this because they were not getting a healthy amount of submissions at the $150 level.
2. 90 days total or 90 business days?
3. Is the lottery system they were talking about now out?
4. Will regular permanently be $100?
5. I was recent reading the backstory of Nat Turner. He has been with psa for over 3 years. In the past, he has bought companies and then sold them a few years later. How long does he stay at psa?

Nat bought PSA at the beginning of 2021.

[parkplace33]

Originally Posted by Peter_Spaeth

Nat bought PSA at the beginning of 2021.

Thanks Peter, I corrected my post.

[Tyruscobb]

The market sets the price; not the company. I suspect the market yawned when PSA announced the $150.00 a card grading fee rate, and PSA did not receive its projected submission numbers. Hence, the already lowered price to $100.00. PSA still has a long way to go in further price drops before I submit cards.

Maybe PSA will eventually run a vintage special. Modern basketball and Pokémon cards are the problem. I think I saw that one of Zion’s rookie cards is the card PSA has graded the most. Think about that - In just 3 years, Zion is already the most graded card when PSA has graded cards since the early 1990’s? This shows the tsunami of modern basketball that swamped PSA.

When the modern basketball and Pokémon card bubble bursts we will see further price drops.

[Casey2296]

How bout you give back our Swingin 60's sub after more than a year...

[bobbyw8469]

Originally Posted by Casey2296

How bout you give back our Swingin 60's sub after more than a year...

It's been a minute.....it's still floating around in R+I.

[bobbyw8469]

I am holding out hope they will return to some specials where it costs $8 or so to get a card graded. The window will probably limiting. Think, cards from the 40's. with yellow backgrounds, whose players first name ends in the letter Y. When that happens, I will sort through my 10,847 raw card to see how many fit the bill.

[Vegas Cards]

Originally Posted by Casey2296

How bout you give back our Swingin 60's sub after more than a year...

Hear Hear!

Although on the plus side at this point getting the cards back will feel just as good as receiving a new purchase from the BST or auction.

[mintacular]

At $100/ card. If a grader takes 30 secconds to grade each card the consumer is paying approx. $12,000/hr. for the service of someone to look at card and give it a grade.

[bxb]

Originally Posted by mintacular

At $100/ card. If a grader takes 30 secconds to grade each card the consumer is paying approx. $12,000/hr. for the service of someone to look at card and give it a grade.

But I think they average more than 30 seconds. Maybe 35.

[Peter_Spaeth]

Originally Posted by Tyruscobb

The market sets the price; not the company. I suspect the market yawned when PSA announced the $150.00 a card grading fee rate, and PSA did not receive its projected submission numbers. Hence, the already lowered price to $100.00. PSA still has a long way to go in further price drops before I submit cards.

Maybe PSA will eventually run a vintage special. Modern basketball and Pokémon cards are the problem. I think I saw that one of Zion’s rookie cards is the card PSA has graded the most. Think about that - In just 3 years, Zion is already the most graded card when PSA has graded cards since the early 1990’s? This shows the tsunami of modern basketball that swamped PSA.

When the modern basketball and Pokémon card bubble bursts we will see further price drops.

In a market in which it has monopoly power, PSA has a lot of control over price. You should check your numbers before asserting they didn't meet expectations at $150. Their submissions are staggering. Their balancing act now, in my opinion, is to reduce price enough not to completely alienate some people, without adding too much to a still massive backlog.

[shagrotn77]

I don't remember seeing anything about PSA dropping their minimum grade option, but I don't see it on the online submission form now. Does anyone know if PSA did away with this? As someone who uses it frequently, I sure hope not.

[Peter_Spaeth]

Q: What happened to minimum grade?

A: As part of PSA’s continuous efforts to improve the PSA backlog, the minimum grade option has been suspended for all card, dual, ticket and pack authentication and grading services. We will make an announcement when the minimum grade option returns.

[shagrotn77]

Originally Posted by Peter_Spaeth

Q: What happened to minimum grade?

A: As part of PSA’s continuous efforts to improve the PSA backlog, the minimum grade option has been suspended for all card, dual, ticket and pack authentication and grading services. We will make an announcement when the minimum grade option returns.

Thanks, Peter. Glad to see that it's not gone for good, but this does seem strange to me. When a card doesn't meet the MG, it doesn't get slabbed. That's LESS work for PSA. I don't see how disabling this option is in any way a way to help clear the backlog . Oh well.

[BobC]

Originally Posted by parkplace33

I received this email from psa today:

PSA continues to devote over 80% of our resources to processing the backlog. Due to continuous capacity expansion, we are now able to bring back the ‘Regular’ Service Level. Regular is for cards valued at $1499 or less and will be processed in less than 90 days door-to-door at a price of $100 per card. With the return of Regular, PSA is taking another step towards bringing back lower priced service levels in 2022.

A few thoughts:

1. I wonder if they did this because they were not getting a healthy amount of submissions at the $150 level.
2. 90 days total or 90 business days?
3. Is the lottery system they were talking about now out?
4. Will regular permanently be $100?
5. I was recent reading the backstory of Nat Turner. He has been with psa for over a year. In the past, he has bought companies and then sold them a few years later. How long does he stay at psa?

Don't know about the first four questions, but my guess on #5 is when the multiples on EBITDA are what he wants them to be.

Isn't Nat Turner pretty much like Edward, Richard Gere's character in "Petty Woman", who buys/invests in companies to grow and then make money off them, except Nat isn't ever going to do things like build great big ships?

[Peter_Spaeth]

Originally Posted by BobC

Don't know about the first four questions, but my guess on #5 is when the multiples on EBITDA are what he wants them to be.

Isn't Nat Turner pretty much like Edward, Richard Gere's character in "Petty Woman", who buys/invests in companies to grow and then make money off them, except Nat isn't ever going to do things like build great big ships?

Unless he's having too much fun.

[BobC]

Originally Posted by Peter_Spaeth

Unless he's having too much fun.

LOL Then let's hope he has fun. I really don't know much about him personally, but understand he enjoys the hobby and is somewhat of a collector himself. Also know he's a member here, and on other boards, so he could be reading this as well. But I believe when it comes to an investment like he and others along with him have made, he's going to be a businessman first, and a hobby collector a little further down the totem pole. Couldn't (and wouldn't) blame him for takin' care of business (props to BTO).

[glchen]

Any news on when Beckett will be resuming Standard or Economy grading and how long their backlog currently is? I have some oversized items that I would like to send to Beckett someday when things are back to "normal."

[Johnny630]

To me $100 is a good step by PSA. I think Regular will be back down to $50 a card by middle to end of this year. As for lower specials that will come as well. IMO The market will dictate what PSA does, the Market is owned by PSA :-)

PSA has a wide and deep Moat, it has not shallowed or narrowed one bit.

The competition, SGC/BGS, missed the boat again.