CLCT going private

[iwantitiwinit]

Cohen Private Ventures, assuming they are the same Cohen Private Ventures, LLC, they are owned by Steve Cohen owner of Point72 (formerly SAC Capital) and the New York Mets. It would be surprising to me if Mr. Cohen made an investment without performing a high level of due diligence and being satisfied with the results of that process.

[Johnny630]

Nat Turner is a very smart guy. I'm looking forward to his ownership of CLCT. I think this is going to be very good.

[MattyC]

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

[MikeGarcia]

Originally Posted by MattyC

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

...SEC forbids insider grading......

..

[MattyC]

Well played, Mike!

[111gecko]

You know they wouldn’t have spent that kind of money if they didn’t know they were in the clear for any type of accountability for the altered cards in their holders...are the bad guys going to walk as well??

[Johnny630]

Originally Posted by 111gecko

You know they wouldn’t have spent that kind of money if they didn’t know they were in the clear for any type of accountability for the altered cards in their holders...are the bad guys going to walk as well??

Yes

[AGuinness]

Originally Posted by 111gecko

You know they wouldn’t have spent that kind of money if they didn’t know they were in the clear for any type of accountability for the altered cards in their holders...are the bad guys going to walk as well??

Haven't they done so already? Again and again and again... for every Mastro, how many other shady people never get brought to justice? I'd guess a lot.

[Lorewalker]

Originally Posted by MattyC

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

I think ya meant observed but absorbed is more fitting. The whole collecting community has absorbed it big time. Millions of bad slabs. Never gonna change.

[Rich Klein]

We're discussing the world today; I will also say, I'm more fascinated by what 2023 will bring because I believe about 2 years in will be when some major personnel changes may just occur. That is just my opinion, nothing more, nothing less.

[steve B]

Originally Posted by MattyC

Pretty big conflict of interest, with a collector able to print his own grades at will. I guess no different than it ever was in the TPG space from the history I’ve absorbed over the years.

But there's the odd catch 22 in all this.

Everyone wants the cards graded by people who know about the cards..
But not by anyone that collects them..

That really shrinks the pool of potential graders.

[rats60]

Originally Posted by steve B

But there's the odd catch 22 in all this.

Everyone wants the cards graded by people who know about the cards..
But not by anyone that collects them..

That really shrinks the pool of potential graders.

Why would we want a collector to grade our cards? We would never be able to get our reprint Cracker Jacks graded as authentic.

Nat Turner is well know collector of modern basketball cards. He has been trying to buy PSA for a while with the intention of improving the grading industry. Shouldn't we give him a chance before implying that he is unethical without any evidence?

[slightlyrounded]

Originally Posted by rats60

Why would we want a collector to grade our cards? We would never be able to get our reprint Cracker Jacks graded as authentic.

Nat Turner is well know collector of modern basketball cards. He has been trying to buy PSA for a while with the intention of improving the grading industry. Shouldn't we give him a chance before implying that he is unethical without any evidence?

This.

I can't think of a more promising turn for PSA than having Nat Turner involved: A young, passionate, tech-savvy collector with an equal respect for modern and vintage sides of the hobby. Also someone who has been vocal about PSA's shortcomings over the years.

Unfortunately, there's are a lot of legacy issues that the new owners will be forced to navigate and hopefully they'll stay accountable to the community while doing so - It's all we can ask for.

[Bobbycee]

HEY!! Another Nat Turner rebellion...

[hcv123]

While I believe "things can always get worse", I believe there is a lot more space to improve than to get worse! A passionate collector - a successful entrepreneurial investment team! I REALLY like the start of this! So much potential with the right changes! If done right - they will be light years ahead of the other grading companies!

[Peter_Spaeth]

Originally Posted by slightlyrounded

This.

I can't think of a more promising turn for PSA than having Nat Turner involved: A young, passionate, tech-savvy collector with an equal respect for modern and vintage sides of the hobby. Also someone who has been vocal about PSA's shortcomings over the years.

Unfortunately, there's are a lot of legacy issues that the new owners will be forced to navigate and hopefully they'll stay accountable to the community while doing so - It's all we can ask for.

Where was he vocal about PSA's shortcomings and what did he say?

[steve B]

Originally Posted by rats60

Why would we want a collector to grade our cards? We would never be able to get our reprint Cracker Jacks graded as authentic.

Nat Turner is well know collector of modern basketball cards. He has been trying to buy PSA for a while with the intention of improving the grading industry. Shouldn't we give him a chance before implying that he is unethical without any evidence?

I was more replying to Mattys post.

I think it would be an additional challenge to have people totally unfamiliar with cards do the grading. A lot of the mainstream cards could be taught, but if you get outside the very common stuff you need an expert.

I see many people say that's a conflict, but it's pretty much unavoidable. In my other hobbies, the expertisers are almost always collectors or dealers. And they all get items certified if not graded. (Not much point grading a unique item) The companies generally just make sure the submitter isn't the one looking at it.
It can be difficult in some small niches. I have one thing that I haven't had expertised, and the best experts in that very narrow area already know of it and whose it is from the article about it.