GameStop is buying PSA graded cards

[visualplane]

"One store told us that customers who opt for a store credit will receive 40% more for their cards than those who opt to take a gift card that can be used anywhere."

Ok, party is over.

[jayshum]

Originally Posted by visualplane

"One store told us that customers who opt for a store credit will receive 40% more for their cards than those who opt to take a gift card that can be used anywhere."

Ok, party is over.

It's been a while, but I used to take my kids to GameStop to sell back video games they no longer wanted. I think it was similar back then that you got more in store credit than you would get in cash/gift card for use anywhere.

[visualplane]

If they're giving 90-80% in store credit, that means only 50 - 40% in comps for cash lol.

[Gorditadogg]

Originally Posted by visualplane

If they're giving 90-80% in store credit, that means only 50 - 40% in comps for cash lol.

Just reading through this thread and have to correct the math.

90% is about 40% more than 64%.
80% is 40% more than 57%.

So the correct range of gift card amounts, based on your store credit assumptions, would be 57-64% of comps.

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[ahmanfan]

Originally Posted by visualplane

If they're giving 90-80% in store credit, that means only 50 - 40% in comps for cash lol.

Usually rule of thirds for retail setting like this.

2/3 value in store credit
1/3 value cash


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[jayshum]

Looks like the arrangement with PSA is working great

https://www.dailydot.com/news/gamest...ards-375k/?amp

[BioCRN]

Originally Posted by jayshum

Looks like the arrangement with PSA is working great

https://www.dailydot.com/news/gamest...ards-375k/?amp

I mean, it's one thing to hit up Gamestop to grade 5-10-20 random cards, even some that worth a few hundred.

Once you have thousands of dollars, especially 100s of thousands of dollars, on the line...dude, just get the $150 membership.

[Snowman]

At the price points they'll be paying, this will only serve as an outlet for thieves to unload their stolen cards.

[D. Bergin]

Great! Now GameStop is getting into fencing Graded Cards, on top of video games and electronics.

Get ready to see more tweakers with sticky fingers ranging around at card shows.

This is an assumption based on conversations I've had with my daughter over the years, who worked at GameStop for a few years while she was in college.

[scooter729]

This is the reason GameStop stock is soaring again! The market loves their connection to PSA!

[D. Bergin]

Originally Posted by scooter729

This is the reason GameStop stock is soaring again! The market loves their connection to PSA!

Roaring Kitty?

Is that you?

[jingram058]

So PSA bought SGC, and now Game Stop is buying PSA? Is that correct?

[visualplane]

I called my local gamestop and they said they are only buying pokemon cards and that's not until June.

[jayshum]

Originally Posted by visualplane

I called my local gamestop and they said they are only buying pokemon cards and that's not until June.

From the article, it sounds like this is still in progress so all the details may not be completely worked out, but it did say sports and gaming cards. Time will tell what really happens.

[D. Bergin]

Originally Posted by jingram058

So PSA bought SGC, and now Game Stop is buying PSA? Is that correct?

I don't think so. Man, that would be the literal end of PSA. GameStop management is notoriously slimy and incompetent.

Don't even think they'd have the money to buy PSA. Even if they cashed in a bunch of their presently inflated stock.

They've been treading water between a meme stock and another Blockbuster for years now.

[jayshum]

Originally Posted by jingram058

So PSA bought SGC, and now Game Stop is buying PSA? Is that correct?

No, I don't think so. According to the article, they will be buying PSA graded sports and gaming cards that have grades of at least an 8 and a value of at most $500.

[D. Bergin]

Originally Posted by jayshum

No, I don't think so. According to the article, they will be buying PSA graded sports and gaming cards that have grades of at least an 8 and a value of at most $500.

That's because they don't keep any more then $500 in the cash register at a time. Don't go in the morning when they open up...because they won't have the cash in the register yet. May not even be until much later if they have a slow morning.

They will definitely push to give you credit instead. One of the reasons will be...they don't have the cash in the register. Try the next GameStop up the street if you want cash.

It's a real desperate racket.

[Casey2296]

Originally Posted by jayshum

No, I don't think so. According to the article, they will be buying PSA graded sports and gaming cards that have grades of at least an 8 and a value of at most $500.

I'm curious what kind of baseball cards fit into this category, mid tier 60's HOFers comes to mind but I don't know enough about the >=PSA 8 <$500 market to hazard a guess.

[Gorditadogg]

Originally Posted by D. Bergin

Roaring Kitty?



Is that you?

Ha ha

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[Leon]

Gamestop is doing everything it can to stay relevent. I can't blame them.
.

[jayshum]

Looks like GameStop is expanding their association with PSA where you will be able to drop off cards at some stores for grading by PSA.

https://seekingalpha.com/news/416044...-trading-cards