Collectors (PSA) Acquired SGC

calvindog · #1 03-02-2024, 08:33 PM

Well, they're not incongruent. He had offers over the years that would have made him very wealthy but didn't take them in part because he felt that SGC customers could get screwed. And that is what largely made the prior offers not right for him. I know, because I spoke to him during that time period about them.

Now he got the offer he wanted and the comfort he needed for SGC customers.
Had he taken a prior offer, there would be outrage from his customer base, instead of what we have here, which is a mix of optimism, anguish and jealousy.

Leon · #2 03-02-2024, 08:41 PM

He should buy you 2 dinners.

Quote:

Originally Posted by calvindog

Well, they're not incongruent. He had offers over the years that would have made him very wealthy but didn't take them in part because he felt that SGC customers could get screwed. And that is what largely made the prior offers not right for him. I know, because I spoke to him during that time period about them.

Now he got the offer he wanted and the comfort he needed for SGC customers.
Had he taken a prior offer, there would be outrage from his customer base, instead of what we have here, which is a mix of optimism, anguish and jealousy.

parkplace33 · #3 03-02-2024, 08:49 PM

Quote:

Originally Posted by calvindog

Well, they're not incongruent. He had offers over the years that would have made him very wealthy but didn't take them in part because he felt that SGC customers could get screwed. And that is what largely made the prior offers not right for him. I know, because I spoke to him during that time period about them.

Now he got the offer he wanted and the comfort he needed for SGC customers.
Had he taken a prior offer, there would be outrage from his customer base, instead of what we have here, which is a mix of optimism, anguish and jealousy.

Can you explain the comfort? Because I am not seeing that for SGC collectors (unless further information is coming out?).

calvindog · #4 03-02-2024, 08:58 PM

Quote:

Originally Posted by parkplace33

Can you explain the comfort? Because I am not seeing that for SGC collectors (unless further information is coming out?).

That Collectors will provide the capital to improve SGC and that SGC will remain a separate, ongoing company.

Johnny630 · #5 03-03-2024, 04:51 AM

Quote:

Originally Posted by parkplace33

Can you explain the comfort? Because I am not seeing that for SGC collectors (unless further information is coming out?).

I do not see the comfort either�.the Comfort in SGC was during the pandemic when PSA was way slowed and expensive�. This is the perfect time for Mr. Foreman to cash out. His company looks the strongest now as it has been in years they generated so much revenue more than usual, due to PSA, increases and slowness during the pandemic. The confidence will continue in SGC until the slabs become extinct, and when you send them to SGC they come back in a PSA holder as one United Company one slab. then will stay with PSA and everything will be OK. Collectors who loved SGC will coalesce knowing PSA bought SGC and their pre-war experience that they love this is a positive in the long run.

Rhotchkiss · #6 03-02-2024, 10:06 PM

Quote:

Originally Posted by calvindog

Well, they're not incongruent. He had offers over the years that would have made him very wealthy but didn't take them in part because he felt that SGC customers could get screwed. And that is what largely made the prior offers not right for him. I know, because I spoke to him during that time period about them.

I can vouch for this. I had similar discussions. Dave is proud of SGC and he feels loyal to his customer-base, and he declined previous offers, at least in part, because it was not good for the brand, his customers, and employees. I had not spoken to Dave in several months (although we did text recently and I congratulated him), so I cannot vouch for the second part of Jeff�s post. But if the past is any indication of the present, I suspect Jeff�s second paragraph is accurate. That said, it�s now collectors� company and I suppose they will do with SGC what they will. Time will tell.

Like many, I too have many cards in SGC flips. I think selling now would be a terrible idea, because buyers are likely vultures looking for panicked sellers. It may be worthwhile considering crossing cards, although I am not sure that is necessary, as it will always be an option (and perhaps PSA will give some deal/facilitate it down the line). As far as buying SGC flips, if I see a card I want in an SGC flip, I will buy it with confidence; indeed, I wouldn�t mind getting a deal bc people are scared to buy. Trust me, I wish this wasn�t happening- because it creates a lot of uncertainty and more likely downside than upside - but, for me, it�s business as usual. I would be much more pessimistic had SGC closed down, or been bought by Beckett or some lesser company.

End of the day, if I can get cards in SGC flips at a discount bc people are scared to buy, great!

Peter_Spaeth · #7 03-02-2024, 10:11 PM

I plead very guilty to cynicism and skepticism especially in this hobby, but when the dominant market player acquires essentially the only remaining competitor in the vintage market, and people are trying to put a positive spin on it, no thanks.

Lorewalker · #8 03-02-2024, 10:37 PM

Quote:

Originally Posted by Peter_Spaeth

I plead very guilty to cynicism and skepticism especially in this hobby, but when the dominant market player acquires essentially the only remaining competitor in the vintage market, and people are trying to put a positive spin on it, no thanks.

Hmmm...that does not sound like optimism, anguish or jealousy.

This deal meets the definition of big business and in big business we all know where the common man is. Call me a moron but I cannot see how Collectors could give any assurances or comfort to those holding SGC cards.

Peter_Spaeth · #9 03-02-2024, 10:50 PM

Quote:

Originally Posted by Lorewalker

Hmmm...that does not sound like optimism, anguish or jealousy.

This deal meets the definition of big business and in big business we all know where the common man is. Call me a moron but I cannot see how Collectors could give any assurances or comfort to those holding SGC cards.

The parties or their shills can say anything, but just for myself I would take it with a grain of salt. If it turns out to be a good thing, it may be the first time that happened from eliminating competition, but this hobby is effed up enough that I suppose anything is possible.

Directly · #10 03-03-2024, 01:07 AM

Make cross-over money to help cover the 100 million purchase price and eliminate the competition at the same time. Could be a brilliant business scheme. Time will tell.

jimmer77 · #11 03-02-2024, 10:26 PM

I currently have 3 subs at SGC now, with several more that I am preparing to send, however my fear now is that given the state of todays workforce, will the employees and especially the graders completely check out and have less desire to peform their jobs at a high level.

Turn around times have slowed considerably lately, which doesnt bother me, but would hate to see bad grades given if employee moral has diminshed.

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