Quote:
Originally Posted by swarmee
You are correct. PSA has to openly state they are WOEFULLY INCOMPETENT of detecting alterations including trimming, recoloring, rebuilding corners, and pressing out creases or they are lying. Or they have to reveal the scammers internal to their organization and prosecute them for fraud. They also need to openly state ALL OF THE SCAMMERS THAT ARE BANNED FROM SUBMITTING so the rest of the collecting community is aware and the information can be given to the other grading companies, auctionhouses, etc.
After that, they have to buy back all of these cards revealed to be altered, and remove them from their pop reports.
Then they need to actually develop the tactics, techniques, and procedures to detect alterations.
Otherwise, their business model crumbles. Maybe it does anyways. As a publicly traded company with millions of dollars of fraud uncovered in weeks by volunteer detectives, they are exposed both literally and financially.
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You may be correct in what you say PSA should do. But I see very little chance of it happening. Based on what this Board has revealed about the number of altered cards, I would think the cost to buy them all back could put PSA out of business. And if in fact what has been revealed is only the tip of the iceberg, the point is only reinforced.
It seems to me that if ever there was a ripe opportunity for another grading company to come into being, or for SGC to make a major marketing move to recoup market share and reduce/eliminate the price gap between comparably graded PSA and SGC cards, this is it.
06-01-2019, 07:02 AM
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