PSA Buyback Grade Change

[KhalDrogo]

Originally Posted by 88horsepower

Instead, the company, despite what their bottom line might tell them, has only gotten worse with each passing year.

I yearn for the days where Joe O created a multi-million item backlog that took over a year for them to resolve and led to them ceasing submissions because the could no longer provide secure storage for the items.

[JWBlue]

Originally Posted by PuddleMonkey

This entire industry is lined with scumbags at all levels.

People have left the hobby solely for this reason.

[rudan007]

Originally Posted by yoyosh

This should be such a huge story, but the hobby just continues to let bad behavior go as long as the casino stays open.

Sad but true. And people were already wondering why the "offers" by PSA were sometimes slightly above comps. There is no way this card changing from a 9 to a 10 is an "error"

No telling what other stuff they are doing......

[TBTC Baseball]

Is "Ick" an appropriate feeling based on this, and the Fanatics "prediction market" move?

[johnlocke36]

Originally Posted by rudan007

Sad but true. And people were already wondering why the "offers" by PSA were sometimes slightly above comps. There is no way this card changing from a 9 to a 10 is an "error"

No telling what other stuff they are doing......

seems like I'm in the minority but pretty east to believe its an error. I know the guy posted on twitter a few days ago they already rectified it and said was gltich etc.

Thats not to say all of these concerns aren't valid and I'm sure some shady #@#@#@#@ has/or will go down, but if they are gonna engage in some hi level fraud its not gonna be on a bunch of cards that are $30 PSA 9 and far more likely was just an accident

[88horsepower]

Originally Posted by KhalDrogo

I yearn for the days where Joe O created a multi-million item backlog that took over a year for them to resolve and led to them ceasing submissions because the could no longer provide secure storage for the items.

Forecasting a black swan event wasn't in the cards for literally anyone. Blaming Joe Orlando for that is displacing blame, at best.

[TBTC Baseball]

Originally Posted by johnlocke36

seems like I'm in the minority but pretty east to believe its an error. I know the guy posted on twitter a few days ago they already rectified it and said was gltich etc.

Thats not to say all of these concerns aren't valid and I'm sure some shady #@#@#@#@ has/or will go down, but if they are gonna engage in some hi level fraud its not gonna be on a bunch of cards that are $30 PSA 9 and far more likely was just an accident

The PSA 10s are pulling in $175-$200 it looks like. That is say $150/card x 11 cards.

[pjw77]

Slightly off-topic, but still in the same vein: Has anyone ever heard of any grading company correcting a mistake that ended up benefiting the card owner? Something, anything, happens: certs, labels, or slabs got mixed up, whatever it is, and you get an email saying your 8 is actually a 10. Just curious.

[johnlocke36]

Originally Posted by TBTC Baseball

The PSA 10s are pulling in $175-$200 it looks like. That is say $150/card x 11 cards.

So a company doing north of 100 million in revenue is going to commit wide scale fraud for $1500? Unless you think its like a rogue employee pulling this off, then that would be more possible/believable. But I seriouslt doubt there is any conspiracy to net 1k gains here and there

[ottobord]

The bigger crime is the grader decided to slap nines on everything.

[towerymt]

Originally Posted by johnlocke36

So a company doing north of 100 million in revenue is going to commit wide scale fraud for $1500? Unless you think its like a rogue employee pulling this off, then that would be more possible/believable. But I seriouslt doubt there is any conspiracy to net 1k gains here and there

Right. And same cert numbers. If this were really happening at scale, they should at least be giving them new certs.

I don't know what will make large numbers of PSA submitters stop grading with PSA...but this ain't it.

[discodanman45]

Originally Posted by johnlocke36

So a company doing north of 100 million in revenue is going to commit wide scale fraud for $1500? Unless you think its like a rogue employee pulling this off, then that would be more possible/believable. But I seriouslt doubt there is any conspiracy to net 1k gains here and there

With this hobby, I actually expect things like this. The could have done this thousands of times, but this time were lazy and forgot to change the cert #. PSA now has a financial reason to grade cards for their own profit. Will they grade cards higher if you vault them so they can upcharge and gain a commission on the sale over actually returning them? If a mystery pack client says they want a Kaboom PSA 10 and one is being graded, would it give them incentive to grade it a 10? PSA is an absolute cesspool with conflicts of interest right now. A grading company should be an independent evaluator of cards without any additional incentive to profit from the grade of the card.

[towerymt]

I've under-valued Declared Value for years trying for conflict-of-interest grades to generate upcharges. Doesn't seem to work for me.

[FatboyWu]

People just keep giving them their money.

[metsandweezer]

Originally Posted by johnlocke36

So a company doing north of 100 million in revenue is going to commit wide scale fraud for $1500? Unless you think its like a rogue employee pulling this off, then that would be more possible/believable. But I seriouslt doubt there is any conspiracy to net 1k gains here and there

Terry Rozier has $160 million in the bank and rigged NBA games for a few hundred thousand dollars.

[ctau00]

Originally Posted by sandyfrank

Wow I was already very weary of selling them a PSA 9 card knowing they could easily just reslab it as a 10, make a quick huge profit and looky there it happens, I am sure not the first time this has gone on...

Serious question, I've never graded a card. So when PSA reassesses a card and ups the grade, the flip is updated but the original serial remains the same?

[Bob Ross]

Dude is still active on ebay and as recently as a couple of weeks ago was on BO. He just chooses not to interact because he would get slaughtered and god forbid give any update to anything PSA related to the community:



Here is his recent ebay feedback given as you can see a ton from the last month and from big name sellers:





Who knows what he's doing with all of these big cards from MC.

[towerymt]

Originally Posted by ctau00

Serious question, I've never graded a card. So when PSA reassesses a card and ups the grade, the flip is updated but the original serial remains the same?

Yes.

I have done it once successfully:
https://www.blowoutforums.com/showpo...2&postcount=23

[TBTC Baseball]

Originally Posted by johnlocke36

So a company doing north of 100 million in revenue is going to commit wide scale fraud for $1500? Unless you think its like a rogue employee pulling this off, then that would be more possible/believable. But I seriouslt doubt there is any conspiracy to net 1k gains here and there

1500 times "x" number of instances? You'd be surprised the pennies that will try to be saved by bigger companies. A "one-off" situation that happened 11 times Rogue employee doing this...annual corporate ethics "What you do as an employee reflects on the company".

There is no good way to spin this in PSA's favor.
1. Like @ottoboard mentioned 30 of 30 cards just flat out given a 9. Really quite the coincidence.
2. Certs shown with PSA 9 on the label, then changed to 10. Was it cracked, or not even sealed up as a 9? Was this the only reason it was caught, is because of the same cert numbers used?
3. Grades changed after complaint on X. No red flag there.

[boxbuster7]

Originally Posted by Bob Ross

Dude is still active on ebay and as recently as a couple of weeks ago was on BO. He just chooses not to interact because he would get slaughtered and god forbid give any update to anything PSA related to the community:



Here is his recent ebay feedback given as you can see a ton from the last month and from big name sellers:





Who knows what he's doing with all of these big cards from MC.

shilling the cards he owns - guy kind of seems like a loser for somebody with so much money. Him and Spinotron single handledly propping up alot of these 90s inserts.

[Bob Ross]

Originally Posted by boxbuster7

shilling the cards he owns

MC consigns massive cards as we know. Seeing all of these purchases by the PSA owner Nat from MC, the first thing I truly thought too was him shilling/winning massive cards for higher comps.

[Bcr]

I know it's never gonna happen, but if there was ever a need for regulation in the hobby it's now.

[Asian62150]

Originally Posted by johnlocke36

seems like I'm in the minority but pretty east to believe its an error. I know the guy posted on twitter a few days ago they already rectified it and said was gltich etc.

Thats not to say all of these concerns aren't valid and I'm sure some shady #@#@#@#@ has/or will go down, but if they are gonna engage in some hi level fraud its not gonna be on a bunch of cards that are $30 PSA 9 and far more likely was just an accident

Let's not get it twisted. They only did something about it because they got caught.

They forgot to change the cert numbers this time. Who knows how long this has been going on? Unless it's a serially numbered card, most of these are near impossible to trace.

Anyway, regardless of whether they were doing it for $1 or $1M, it's a 100% clear conflict of interest.

[Asian62150]

Originally Posted by metsandweezer

Terry Rozier has $160 million in the bank and rigged NBA games for a few hundred thousand dollars.

And the MLB dudes risked their millions and reputations for like $2500 and $7500 payouts. Crazy.

[no10pin]

Originally Posted by johnlocke36

seems like I'm in the minority but pretty east to believe its an error. I know the guy posted on twitter a few days ago they already rectified it and said was gltich etc.

Thats not to say all of these concerns aren't valid and I'm sure some shady #@#@#@#@ has/or will go down, but if they are gonna engage in some hi level fraud its not gonna be on a bunch of cards that are $30 PSA 9 and far more likely was just an accident

I think it's a little too late to give them the benefit of the doubt on anything.

It's very possible that it was either and error or a rogue employee. But when you get into the business of both grading cards and buying graded cards, it's your job to make it crystal clear that nothing funny is going on. They have done the opposite every step of the way.

Look at all of the posts about gambling every time a player in a sport decides to try to make some money on the side. It's almost unanimously 'well, what do you expect when you run Draft Kings ads every 11 seconds?'

The same logic applies here. What did you expect would happen when PSA A) decides what the grade is, B) makes an offer based on the grade they gave the card and C) does this without ever shipping the card to the original owner to begin with? PSA is just begging employees to pull something.