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...

[Peter_Spaeth]

Originally Posted by Aquarian Sports Cards

It's going to get worse...

You mean when the next target is a competitor?

[MattyC]

Nat Turner’s quote is grotesque. He didn’t do a damn thing to clean up PSA.

He claims to want to be a hobby savior, but the shady Axis including him, Goldin, PSA, etc., has turned my stomach so much that they’ve tainted all cards for me and ruined the hobby. I’m in process of selling everything because I want nothing connecting me to to those people. Bad enough we are part of the same species but that commonality I can’t do anything about.

[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

[MattyC]

It’s a joke. AH’s were already getting favorable grades before one of them was owned by the same group that owns PSA. Now… expect Goldin to get lots of clutch grade bumps (on doctored cards) that translate to millions in sales. I bet Turner even lands some of them for his collection, lol. Handing the money to your own asset isn’t really the same as a collector winning the auction, is it?

[Johnny630]

Maybe this is why Collectors Universe was taken private.....smart move always looking ahead. These guys love them or hate them are brilliant at making money.

[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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[MattyC]

Yup. Just profiteers bilking an unregulated market, end of the day.

[Peter_Spaeth]

Originally Posted by MattyC

It’s a joke. AH’s were already getting favorable grades before one of them was owned by the same group that owns PSA. Now… expect Goldin to get lots of clutch grade bumps (on doctored cards) that translate to millions in sales. I bet Turner even lands some of them for his collection, lol. Handing the money to your own asset isn’t really the same as a collector winning the auction, is it?

The related potential conflict would be grading more strictly for rival AHs that submit.

[MattyC]

Exactly. Would steer all expensive material to their own AH.

[Fuddjcal]

Are we at a "BILLION DOLLAR FRAUD" yet,

I told ya so

[HRBAKER]

And the band played on.....................

And the people stood in line and handed them their money and waited months for a receipt...............

Why wouldn't you invest in a business or hobby where your target consumers have shown that they are willing to accept almost anything and keep coming back for more?

"Thank you Sir. May I have another?"

[Jim F]

Wasn't an auction house once part of Collectors Universe? I believe they were called Superior

[Peter_Spaeth]

Originally Posted by Jim F

Wasn't an auction house once part of Collectors Universe? I believe they were called Superior

Yes. Long time ago.

[Rhotchkiss]

Beckett buying Goodwin worked out real well…. Different players for sure but time will tell how this all shakes out.

[Johnny630]

Follow the money or bitcoin....will Heritage or PWCC be next to be sold to this group???

[Peter_Spaeth]

Originally Posted by Johnny630

Follow the money or bitcoin....will Heritage or PWCC be next to be sold to this group???

Et tu, Brente?

But as I have posted I think they go in a different direction.

[Mark17]

Originally Posted by Peter_Spaeth

Et tu, Brente?

But as I have posted I think they go in a different direction.

1. Company that assigns grades (values) to cards
2. Company that auctions cards

What they need to complete the trifecta would be the acquisition (or formation) of a company that makes cards.

[Peter_Spaeth]

Originally Posted by Mark17

1. Company that assigns grades (values) to cards
2. Company that auctions cards

What they need to complete the trifecta would be the acquisition (or formation) of a company that makes cards.

I'm thinking they look to consolidate the TPG landscape further.

[Nunzio11]

Originally Posted by Mark17

1. Company that assigns grades (values) to cards
2. Company that auctions cards

What they need to complete the trifecta would be the acquisition (or formation) of a company that makes cards.

Topps valuation is probably too high. Perhaps just hire someone that doctors cards. What the heck it's happening anyway so why not keep it under one roof and capitalize. One stop shop...crack, doctor, submit, grade and auction to the public.

[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.

[chriskim]

Very happy to see Goldin will have 100% PSA10s auctions. (or "look like" PSA10ish auctions)

The success of Goldin auction in the past 14 months score Mr. Goldin a $200Million deal. Congrats!

[CrackaJackKid]

I wish I could print my own money…🤔🤔🤔

[Johnny630]

It’s sad but it’s always us small guy collectors who take it on the ass.

[MattyC]

If it was "on" the ass that would be kinda workable. But it feels like is pretty deep "in" there. It's sad but Nat and his cronies can have the hobby. Someone in that circle will enjoy turning my 4s into 8s and 9s, PSA will enjoy the grading fees, Goldin and its owners will enjoy the commissions on the sales, and lastly someone else will enjoy them as 8s and 9s. And so the cycle goes LOL. Spread the joy.

[Peter_Spaeth]

Originally Posted by Johnny630

It’s sad but it’s always us small guy collectors who take it on the ass.

It sure doesn't feel like they are concerned about catering to the average dealer and collector any more. True, PSA was a public company for a long long time, but even then at least from a bit of a distance it didn't feel like corporate America was running it.

[Johnny630]

Originally Posted by Peter_Spaeth

It sure doesn't feel like they are concerned about catering to the average dealer and collector any more. True, PSA was a public company for a long long time, but even then at least from a bit of a distance it didn't feel like corporate America was running it.

Agree

[notfast]

I’m sure the billionaires who bought into Goldin are interested in selling $10k falsely graded PSA cards. Makes total sense.

Everyone is always talking about conflict of interest when it makes no logical sense. It’s like the “phrase of the day” or something.

Literally EVERY item that Goldin plans to sell this year (~$200m) would be less than 20% of Turner’s net worth.

[chriskim]

Pretty sure Ken is reading all these and doesn't give a f'k since he is $200Mil richer and can offer $2Mil to take over this site.


Nowaday this hobby is more "corrupted" than ever, I feel so bad only Mastro's people got sent to jail and not others.

[Johnny630]

Originally Posted by chriskim

Pretty sure Ken is reading all these and doesn't give a f'k since he is $200Mil richer and can offer $2Mil to take over this site.


Nowaday this hobby is more "corrupted" than ever, I feel so bad only Mastro's people got sent to jail and not others.

It's amazing how there is no talk about the FBI being in Chicago during the last national.....wonder if anything came of it???

[Casey2296]

Originally Posted by chriskim

and can offer $2Mil to take over this site.

Leon's gonna need to build an addition to hold $2mil worth of type cards.

[Republicaninmass]

Any non psa cards in their auction must be altered eh?


Timberrrrrrr

[Peter_Spaeth]

Originally Posted by Republicaninmass

Any non psa cards in their auction must be altered eh?


Timberrrrrrr

Why would being altered stop them from being crossed?

[Johnny630]

I envision the big shots in a meeting saying, A Rising Tide Lifts all boats...these people need us more then we need them. We have this market cornered, relax.

[NYYFan63]

Originally Posted by notfast

I’m sure the billionaires who bought into Goldin are interested in selling $10k falsely graded PSA cards. Makes total sense.

Everyone is always talking about conflict of interest when it makes no logical sense. It’s like the “phrase of the day” or something.

Literally EVERY item that Goldin plans to sell this year (~$200m) would be less than 20% of Turner’s net worth.

And Stevie Cohen’s


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[BRoberts]

Originally Posted by notfast

Everyone is always talking about conflict of interest when it makes no logical sense.

You are 100 percent wrong.

[Exhibitman]

“We are operating the same today as we did yesterday,” Goldin told SC Daily. “There will be a firewall between Collectors Universe and Goldin. I will not get better service or preferential grading from Collectors Universe."

[Peter_Spaeth]

Originally Posted by Exhibitman

“We are operating the same today as we did yesterday,” Goldin told SC Daily. “There will be a firewall between Collectors Universe and Goldin. I will not get better service or preferential grading from Collectors Universe."

Graders know whose cards they are grading, no? So how can there be a firewall as a practical matter?

[chriskim]

Firewall defines here as a separate special tunnel to bump authentic graded cards to 10s.

[chriskim]

Originally Posted by Johnny630

I envision the big shots in a meeting saying, A Rising Tide Lifts all boats...these people need us more then we need them. We have this market cornered, relax.

Could not agree more. Let's go back to REA and Brockelman Auctions for consignments.

[Lorewalker]

Originally Posted by Peter_Spaeth

Graders know whose cards they are grading, no? So how can there be a firewall as a practical matter?

It certainly appeared that PWCC and others had preferential treatment at PSA (and SGC) and they are not even an insider. How is one to really take Ken Goldin seriously?

And at the end of the day does Ken or anyone else really need to come out and assure anyone? Personally I would feel better if they would have just told us all if we don't like the new arrangement to pound sand.

[bigfish]

Is there a Fox in the hen house????!