PSA Response from President Steve Sloan

drcy · #1 06-17-2019, 11:50 AM

Quote:

Originally Posted by perezfan

Spot on...

Sure PWCC is slimy as hell, and should be put out of business. But it's the highly defective/contradictory/inept/favorable (take your pick of adjectives) PSA Grading that makes every aspect of this scandal possible.

The fact that they try to weasel out of their meaningless "guarantee" is just more icing on the rotting cake.

It's not an either/or. Many cases involve multiple guilty parties.

Peter_Spaeth · #2 06-17-2019, 11:54 AM

Quote:

Originally Posted by drcy

It's not an either/or. Many cases involve multiple guilty parties.

People doctoring cards, people knowingly selling doctored cards, and TPGs who are supposed to protect collectors against this somehow slabbing countless doctored cards. It's enough to make you ill.

perezfan · #3 06-17-2019, 04:10 PM

Quote:

Originally Posted by drcy

It's not an either/or. Many cases involve multiple guilty parties.

Yes, of course there are multiple guilty parties, which have been at work for a lot longer than this scandal has been readily apparent.

The PSA portion is the most damaging long-term, as their seal of approval gives the card an automatic "thumbs-up" to every facet of the secondary market, auction house and eBay. Hundreds (perhaps thousands) of questionable PSA-approved cards will infiltrate all of our favorite auction houses. No doubt, they already have.

Moser/PWCC is a major gateway.... and from there, it's anyone's guess where and when they will again surface.

Johnny630 · #4 06-17-2019, 04:28 PM

PSA will hope this blows over....let’s take a poll what PSA will Do?

I’m saying nothing....after the National This will all be a afterthought..sadly to many Sheeple to the Registry and Uber Wealthy High Profile People with Big 6 figure plus cards in their holders .it’s very sad....I have Zero Confidence PSA ...it’s always the pure hardcore collectors who take it on the ass...

drcy · #5 06-17-2019, 04:48 PM

Quote:

Originally Posted by Johnny630

PSA will hope this blows over....let’s take a poll what PSA will Do?

I’m saying nothing....after the National This will all be a afterthought..sadly to many Sheeple to the Registry and Uber Wealthy High Profile People with Big 6 figure plus cards in their holders .it’s very sad....I have Zero Confidence PSA ...it’s always the pure hardcore collectors who take it on the ass...

I wondered a while, back but, with the continuing onslaught and publicity, I think it will deeply affect PSA. Even if collectors still collect PSA, I find it hard to believe that minor increments in grade (8 versus 9, 9 versus 10) will have the same valuation.

Duly note, I think professional grading, in theory, is a good thing. I think it's good to have an independent authenticator (something they're good at), and can understand the desire for a quick hird opinion on grade in online sales. However, I've loooong thought the fetish for number grades wasn't based (much less priced) in anything rational. The chickens have come home to roose on the latter, and much it lays not at the feet of graders but the collectors.

I think this could actually possibly be the death knell for PSA, and, at the least, the scandal will alter how graded cards are prices (and obviously downward not upward). I don't see how collectors will price graded cards the same way they used to.

I predict that, for one reason and/or other (legal, financial), PWCC will be gone before long.

The funny thing (not necessarily as in ha ha funny) is PWCC was an advisement advisor and building things up as investments, but will have himself tanked the investments.

steve B · #6 06-17-2019, 05:06 PM

Quote:

Originally Posted by drcy

I wondered a while, back but, with the continuing onslaught and publicity, I think it will deeply affect PSA. Even if collectors still collect PSA, I find it hard to believe that minor increments in grade (8 versus 9, 9 versus 10) will have the same valuation.

Duly note, I think professional grading, in theory, is a good thing. I think it's good to have an independent authenticator (something they're good at), and can understand the desire for a quick hird opinion on grade in online sales. However, I've loooong thought the fetish for number grades wasn't based (much less priced) in anything rational. The chickens have come home to roose on the latter, and much it lays not at the feet of graders but the collectors.

I think this could actually possibly be the death knell for PSA, and, at the least, the scandal will alter how graded cards are prices (and obviously downward not upward). I don't see how collectors will price graded cards the same way they used to.

I predict that, for one reason and/or other (legal, financial), PWCC will be gone before long.

The funny thing (not necessarily as in ha ha funny) is PWCC was an advisement advisor and building things up as investments, but will have himself tanked the investments.

Sadly, I don't think it will affect them at all.
Return the card to the seller-
The seller who is crooked, and will simply crack out and resubmit to get a new "clean" serial number.
PSA gets a bit more money, the cards are now "fine" and get resold in a year or two, or maybe less. The people who buy the PSA line, or for whom it's all about the money will still pay big bucks for the same cards that they had to return earlier. The only ones happy are PSA and the seller.

drcy · #7 06-17-2019, 05:11 PM

Quote:

Originally Posted by steve B

Sadly, I don't think it will affect them at all.
Return the card to the seller-
The seller who is crooked, and will simply crack out and resubmit to get a new "clean" serial number.
PSA gets a bit more money, the cards are now "fine" and get resold in a year or two, or maybe less. The people who buy the PSA line, or for whom it's all about the money will still pay big bucks for the same cards that they had to return earlier. The only ones happy are PSA and the seller.

Unless drastic changes in grading are done, I don't think graded cards will be priced the same in the future. Collectors can be stupid, but not that stupid.

Peter_Spaeth · #8 06-17-2019, 05:12 PM

Quote:

Originally Posted by drcy

Unless drastic changes in grading are done, I don't think graded cards will be priced the same in the future. Collectors can be stupid, but not that stupid.

Sure they can be. Look at all the people who turned a blind eye to PWCC's shenanigans even as some of us called them out over the years. I wouldn't call it stupidity though, I would call it more wishful thinking and misplaced trust.

conor912 · #9 06-17-2019, 11:51 PM

Quote:

Originally Posted by drcy

Unless drastic changes in grading are done, I don't think graded cards will be priced the same in the future. Collectors can be stupid, but not that stupid.

About half this country is pretty effing stupid. Apply that metric to the hobby and PSA could thrive on that number indefinitely.

perezfan · #10 06-17-2019, 05:49 PM

Quote:

Originally Posted by steve B

Sadly, I don't think it will affect them at all.
Return the card to the seller-
The seller who is crooked, and will simply crack out and resubmit to get a new "clean" serial number.
PSA gets a bit more money, the cards are now "fine" and get resold in a year or two, or maybe less. The people who buy the PSA line, or for whom it's all about the money will still pay big bucks for the same cards that they had to return earlier. The only ones happy are PSA and the seller.

This is actually a huge potential concern. What should happen with the altered cards, once returned? If they're re-submitted, they'll probably pass once again, and PSA garners even more money on the secondary authentication fees.

They are discussing the topic on Blowout... some believe that subsequent destruction of the card is the only proper solution. Others have suggested a "hole punch" be applied. Perhaps Moser and the like would eventually find a way to mask the hole punch.

But if nothing else comes of this, hopefully some type of governing body or Law Enforcement can find a way to ensure these bogus cards are never re-circulated. If we leave it to PSA or PWCC, we are pretty much doomed.

Peter_Spaeth · #11 06-17-2019, 05:55 PM

How is he perfectly matching the ink when he recolors these tiny spots?

Peter_Spaeth · #12 06-17-2019, 05:08 PM

Yeah, invest in my altered cards, especially the ones with the shiny stickers. Great advice. And it would have gone on, forever, had he not been caught.

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