I am pessimistic about this PSA info
winter
Posts: 73 ✭✭
‘’’JULY 1 REMAINS THE GOAL
As stated previously, our goal is to bring back the suspended service levels with a tiered approach beginning on July 1. It’s not an easy solve as it’s imperative that we re-emerge with daily submission volume being less than daily grading capacity. We will continue to keep you apprised on that situation as the date gets closer. As a reminder, current Collectors Club memberships have already been extended by three months and will be extended further to reflect the duration of the Value pricing suspension. Please stay tuned for further updates.’’
Specially for this phrase
‘’ and will be extended further”
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Comments
It seems to me that if the reopen at anything similar to normal, they will be absolutely bombarded with cards - literally millions of cards all at once. And then we are immediately where we were in March.
tier down approach w the lower levels not opening until ‘22.
even then, possibly on an allocation system based off a percentage of previous sub history.
if folks stick around that is.
Agree on a scale down re-open process as most of the volume comes in at the lower fee tiers.
A fascinating challenge to watch unfold. The only people more frustrated than collectors is PSA. Imagine the lost revenues due to lack of scale. (Not finger pointing, as it isn’t good business to scale for unforeseen explosions, but still…).
I still think opening up other locations to tap into more graders would play a significant role in getting caught up. I’m not sure what graders make but I’d have to think that it wouldn’t be enough to relocate.
The phrase "hiring a lot of new graders" gives me anxiety. I want to hear about senior graders/gatekeepers with tremendous empathy for seasoned collectors who are dedicated to getting us THE CORRECT grades regardless of backlog size.
Reopening will be slow.
Recent grades show that, if anything, new graders are being trained to err toward strict grading. I am not concerned.
I completely agree with the above comment.
As a military retiree, who's still working age, I would seriously consider working for PSA. However, I absolutely will not relocate to California, even though I was born and raised in San Diego. Even with my military retired pay, I can't even dream about returning to my home state due to the exhorbitant cost of living. Now, if PSA were to open a presence in, or move to Texas,....................
Steve
just an uneducated opinion, but i bet this is already in the works. i would also expect them to break up the sub levels and route them to the different facilities. ie all vintage & express levels+ to existing cali branch. tcg, modern and ultra to the new fla branch.
if anything, probably wouldnt be in play until 2023. kinda makes sense with them shutting down and promising to reopen in levels. w/ bulk most likely being the last, gives them plenty of time to work thru the backlog, set up the new outfit and then open this level back up w/ shipments directed to the new facility.
With Displacement, Boom and Euphoria over - small dead cat bounces on the latter not withstanding, and profit taking well underway as the millions of junk-wax and modern era pass through PSA then dumped out to selling venues the only way to go is down as at first a light Panic phase takes hold. Sure Modern hot players cards will always be an exception for as long as they remain hot but when they are not basic supply and demand laws will take hold. The only question is how long Keynes quote will stay in effect...
Profit-Taking
In this phase, the smart money—heeding the warning signs that the bubble is about at its bursting point—starts selling positions and taking profits. But estimating the exact time when a bubble is due to collapse can be a difficult exercise because, as economist John Maynard Keynes put it, "the markets can stay irrational longer than you can stay solvent."
Panic
It only takes a relatively minor event to prick a bubble, but once it is pricked, the bubble cannot inflate again. In the panic stage, asset prices reverse course and descend as rapidly as they had ascended. Investors and speculators, faced plunging values of their holdings, now want to liquidate at any price. As supply overwhelms demand, asset prices slide sharply.
Please note I do feel most vintage any downward effects will be tempered due to smaller supply as well and demand still above pre-COVID levels, however "commons" and near "commons" I see still taking a possible hit. Although that will likely not apply to 1960's and earlier and certainly not to 1950's and earlier.
Of course I could very well be wrong about everything but I've basic tenants of economic + human nature on my side all proven again and again over hundreds of years or more.
It's the singer not the song - Peter Townshend (1972)
Now that Beckett closed the other day, yes PSA would get swamped if they open in a few weeks.
Terry Bradshaw was AMAZING!!
Ignore list -Basebal21
They will open but only one additional tier and the price will be steep.