SPORTS CARD RADIO (anonymus PSA "insider")

benjulmag · #1 08-06-2019, 06:31 PM

Quote:

Originally Posted by drcy

I agree, except I think the altered cards will be worth less rather than dead in the water. Worth less not worthless.

I've long said I thinking pricing and valuation of the cards will change, in various ways.

Even if altered card are accepted, I don't think theer will be the same cache (cash) between, say, a 9 and a 10.

Another question to ponder is, if PSA can identify alterations (someday), how will they treat resubmitted cards? If they are able to identify all the alterations they previously missed, how will the deal with all the misgraded cards out there? Perhaps they hope they are unable to better identify alterations in the future.

If I had a PSA card that I wanted reevaluated under the latest grading method using all technology has to offer, the last company I would want to do it would be PSA. To say they would have a conflict of interest would be an understatement along the lines of an example Peter came up with -- a person upon seeing Noah standing on his ark announcing that a passing shower is coming.

For this reason, even if PSA somehow overcomes the legal hurdle of patent infringement and manages to come up with a way to compete with a new company that uses the latest technology, I would think the new company would have a huge leg up, as who in his/her right mind would prefer PSA over this new company for purposes of reevaluating a PSA card?

drcy · #2 08-06-2019, 07:13 PM

Some people are saying "PSA will do this," "Registry will do that."

However, if the FBI and criminal prosecutions involving false grading are involved, the question will be how much say will PSA and Registry people in it? PSA may hope "Let's hope it all just blows over and people accept altered cards," and Registry people may say the same. However, if the FBI says these altered cards and the selling thereof (as non-alerted) is a criminal offense, and all these misgraded cards in the Registry are products of criminal or whatever behavior, PSA and Registry won't be able to just ignore it-- certainly not at resale time and grading time.

I think their hands will be forced.

At the least, the altered cards will have to be overtly labelled as altered (How the hobby prices those then is another matter), and PSA will have to address the altered cards. PSA will not be allowed to "whistle by the graveyard" or "grandfather clause" all their past mistakes . . . As I said in previous post, what does PSA now do when altered cards are resubmitted for grading? The now know many are altered, and the now know the FBI is involved. And what does the hobby as a whole now do, with so many people who resubmit cards hoping for a better grade? This all changes things a lot, and not in a way that PSA will be fond of.

I firmly believe that PSA will have to address in serious fashion all the altered cards that they misgraded-- and there a ton of them, involving lots of $$ and a boatload of card owners, including wealthy Registry folk, who aren't going to be happy when their cards are addressed in serious fashion. Tell me how this isn't a problem, or at least a conundrumm (including in a legal sense), for PSA and Registry set owners?

benjulmag · #3 08-07-2019, 07:41 AM

Quote:

Originally Posted by drcy

Some people are saying "PSA will do this," "Registry will do that."

However, if the FBI and criminal prosecutions involving false grading are involved, the question will be how much say will PSA and Registry people in it? PSA may hope "Let's hope it all just blows over and people accept altered cards," and Registry people may say the same. However, if the FBI says these altered cards and the selling thereof (as non-alerted) is a criminal offense, and all these misgraded cards in the Registry are products of criminal or whatever behavior, PSA and Registry won't be able to just ignore it-- certainly not at resale time and grading time.

I think their hands will be forced.

At the least, the altered cards will have to be overtly labelled as altered (How the hobby prices those then is another matter), and PSA will have to address the altered cards. PSA will not be allowed to "whistle by the graveyard" or "grandfather clause" all their past mistakes . . . As I said in previous post, what does PSA now do when altered cards are resubmitted for grading? The now know many are altered, and the now know the FBI is involved. And what does the hobby as a whole now do, with so many people who resubmit cards hoping for a better grade? This all changes things a lot, and not in a way that PSA will be fond of.

I firmly believe that PSA will have to address in serious fashion all the altered cards that they misgraded-- and there a ton of them, involving lots of $$ and a boatload of card owners, including wealthy Registry folk, who aren't going to be happy when their cards are addressed in serious fashion. Tell me how this isn't a problem, or at least a conundrumm (including in a legal sense), for PSA and Registry set owners?

The points you raise are prescient, and at the National I had conversations with the FBI about them. The discussion centered around a business model that cannot detect expertly done alterations, yet attracting business by giving prospective customers the impression that it can. At the very least PSA should be required to give a warning about the limitations of the services it provides, much the same way, say, cigarette manufacturers have to include a warning about the health dangers of smoking. Unless, though, PSA felt they would be exposed to criminal liability by not providing such a disclosure, I would think legislation would be required to accomplish it.

I don't know what if any impact the current FBI involvement will have on PSA, but I can say that based on my discussions with the FBI, I got the impression that they seem well aware of the limitations of the PSA business model.

oldjudge · #4 08-06-2019, 07:17 PM

The link in the OP�s post starts with the following statement:

Sports Card Radio recently obtained an anonymous letter from a believed PSA insider.

If what follows is true, involving some significant names in the hobby, it is really troubling. However, given the seriousness of the allegations, I would hope there is more behind it than an anonymous letter from a believed PSA insider. Anyone making these types of accusations should have to disclose their name and explain how they know these facts. Otherwise, reputations can be ruined for no reason.

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