Well this sure is interesting! Goldin/PSA now the same?

[ullmandds]

https://sports.yahoo.com/goldin-auct...123049292.html

[Peter_Spaeth]

One could imagine a conflict of interest? In any event this isn't yesterday's sleepy hobby, this is a new animal.

[Peter_Spaeth]

Sports collectibles auction pioneer Ken Goldin has sold Goldin Auctions to Collectors Holdings, a group owned by New York Mets owner Steve Cohen, hedge fund billionaire Dan Sundheim and venture capital investor Nat Turner. Goldin, who founded his self-named auction house in 2012, remains with the firm and will operate Goldin Auctions as an independent business. Collectors Holdings will provide capital to expand Goldin Auctions’ capabilities in the red-hot memorabilia market.

In case I need to spell it out, these are the same gentlemen who bought PSA.

[Mike D.]

“Sub and sell” specials? Sub a card and send in X dollars…they grade and auction and send you back (hopefully) 2X, 3X, 5X dollars.

[Peter_Spaeth]

Originally Posted by Mike D.

“Sub and sell” specials? Sub a card and send in X dollars…they grade and auction and send you back (hopefully) 2X, 3X, 5X dollars.

Anyone remember Grade and Trade from back in the day?

[marzoumanian]

“We’re very mindful of the integrity of PSA and would never do anything to harm it."--Nat Turner

My laugh of the day. Fasten your seat belts, folks. This hobby is going warp speed. Hang on.

[Peter_Spaeth]

Originally Posted by marzoumanian

“We’re very mindful of the integrity of PSA and would never do anything to harm it."--Nat Turner

My laugh of the day. Fasten your seat belts, folks. This hobby is going warp speed. Hang on.

Turner emphasized that PSA, the widely used card-grading system, will be kept arms-length from the auctions business and continue to serve all customers equally, with no preference given to Goldin Auctions.

I am sure we all find that very reassuring.

[Aquarian Sports Cards]

Originally Posted by Peter_Spaeth

Turner emphasized that PSA, the widely used card-grading system, will be kept arms-length from the auctions business and continue to serve all customers equally, with no preference given to Goldin Auctions.

I am sure we all find that very reassuring.

It's going to get worse...

[ullmandds]

Originally Posted by Peter_Spaeth

Turner emphasized that PSA, the widely used card-grading system, will be kept arms-length from the auctions business and continue to serve all customers equally, with no preference given to Goldin Auctions.

I am sure we all find that very reassuring.

hahahahaha

[Tabe]

Originally Posted by marzoumanian

“We’re very mindful of the integrity of PSA and would never do anything to harm it."--Nat Turner

My laugh of the day. Fasten your seat belts, folks. This hobby is going warp speed. Hang on.

C'mon, they promised transparency. Who are you to be skeptical???

[MattyC]

Just take The Savior’s word for it, LOL. And keep handing these crooks our money. Pass.

[AustinMike]

Originally Posted by marzoumanian

“We’re very mindful of the integrity of PSA and would never do anything to harm it."--Nat Turner

My laugh of the day. Fasten your seat belts, folks. This hobby is going warp speed. Hang on.

This also gave me quite a chuckle.

We all know PSA has graded altered cards and when shown the proof, they just shrug it off and go on their merry way with no consequences other than increasing their bottom line.

We all also know that many AHs have auctions at about the same time and they often will send cards in to PSA to be graded before the auction. What's to keep PSA from slow walking submissions from other AHs who have an upcoming auction at about the same time as Goldin so as to miss the next auction while getting Goldin submissions through on time to make it to their auction? Purely speculation on my part, but based on the previous paragraph, what's to stop them? The other AHs do get the graded cards and can have them in the following auction. No problem right? If you have an ungraded card that would get more money graded and you want the AH to send it in for you, who would you choose as the AH?

In regards to Ken himself, I don't know him. I've gotten items in his auctions and have no complaints about any of the transactions. I don't begrudge him for making the big bucks. Kudos to him. But, it seems some people here love sayings, so here are a few:

“If you choose bad companions, no one will believe that you are anything but bad yourself.” ― Aesop, Aesop's Fables

"For they that sleep with dogs, shall rise with fleas." -- John Webster

"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently." -- Warren Buffett

“Don't make a deal with the devil, if you do you will lose something important that you once had.” ― Karen Dang

(Yes these are cut and pasted and I do not vouch for who actually said what.)

Bottom line, considering the "integrity" of PSA, I think this is bad for the hobby.

[MattyC]

The play this Nat Turner and his cronies are making with this unholy alliance of PSA and Goldin is so easy to see coming at us. Of course they don’t care how brazen it is, because there is no regulation — and degenerate addicts will bid for their “fix” of stuff no matter what. They’ll make one hell of a profit when they flip these businesses (after they’ve driven up valuations thru a steady stream of record sales of their slabs at their AH, trumpeted in the media). We will see eye opening sales of favorable grades, bought by investors in both companies, just like when one of the PSA 10 Jordan outlier sales was bought and brandished by someone who has a stake in the investor group. They expect us to whip out pom poms and cheer it all on as our card values rise.

[IgnatiusJReilly]

I’m going to keep collecting the cards I love, but I can’t see how this doesn’t really hurt the hobby (sorry for double negative).


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