What exactly is going on?
 

Hi All, I have kind of checked out of the hobby for the past 3 years or so, still have all my cards, just haven't been actively looking or buying. Popped on here this morning to see what's going on, and after reading about 20 threads I am still kind of confused exactly what's going on. Can someone summarize in a paragraph what's gone on? Or is there a thread that explains things more clearly?

From what I can tell, seems like PWCC was knowingly selling cards that had gone through a "conservation process" - LOL, and that this either got past PSA, or they knowingly re-slabbed cards.

Honestly I am surprised at all the "outrage" - didn't we all know this sort of stuff was going on from the beginning? This hobby is a cesspool and in so many different corners, fueled by greed. I have always thought it was completely ridiculous how a card can sell for $1000 graded "2", yet a "7" grade sells for $15000. It's the same card! Just better condition, numerically assigned a grade by a 3rd party grader (or 3rd grader?).

So I guess what I am saying is, I don't think this is a bad thing. We should ALL be a lot more cautious about what we are buying, where we are buying it, and who we are buying it from. We should be especially skeptical about higher grade cards, and should be especially wary of shelling out big coin just because the number grade is higher.

Literally every time I have checked this forum since I joined 8 years ago, there has been a thread on the first page of the board discussing some accusation of shadiness or shill bidding on the part of Brent/PWCC. And only now it's a shocker that there was actually something unethical going on? Only now we are all freaking about about what we bought?

Anyway, apologies if I am missing something, or jumping to any conclusions. The way I see it though, just like any market needs correcting, that appears to be what is happening here. Higher grade cards are overvalued and risky investments, maybe this "scandal" or whatever you want to call it is a good wake up call. Cuz this stort of stuff is NEVER GOING TO STOP. As time goes on, it's only going to get easier for card doctors to mess with cards and bring up their "grades". Maybe the real problem is collectors forgetting about the actual cards, and focusing their buying on a plastic slab and its label.

This YouTube video, posted here the other day, is a good summary for someone like you (who knows the hobby but isn't up to date on the current scandal(s)).

https://www.youtube.com/watch?v=S_BeT7HoE6E

Thank you!! I appreciate it. Much simpler and easier than wading through all the threads on here trying to make sense of it all.

https://www.blowoutforums.com/showthread.php?t=1298835

Hearing that it's shady and seeing evidence of thousands of altered cards worth millions of dollars are two different things. The outrage is completely understandable.

I guess I just disagree. This has been going on for years and years and years. Mastro T206? Why are we surprised to see this? Honestly, I am surprised the problem isn't even worse. It's not going to get any better, either.

Caveat emptor.

Pretty much nailed it.

I really like that you made some good points. We have see all kinds of stuff in the past and like you said "We should ALL be a lot more cautious about what we are buying, where we are buying it, and who we are buying it from"

Enjoy the collecting! not the BS.

Jimmy