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NGC acquired by Blackstone
Boosibri
Posts: 12,395 ✭✭✭✭✭
Boosibri
Posts: 12,395 ✭✭✭✭✭
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A lot of changes with the big 2 in slabs this year. I wonder how it will play out in years to come? Perhaps there will be a sea change of sorts coming on the horizon?
Very interesting... There will likely be changes in operations in the near future. Cheers, RickO
Just got the email as well. Be interesting to see where all of this goes.
I work at a major investment firm and talk to Blackstone people often.
That is very interesting news.
They'll be some pencil sharpening going on for sure.
Hmmmm. I think sooner or later we'll see some innovation. An occasional shakeup is inevitable - gotta keep those submissions coming in.
100 pt grading scale? Something else? Who knows.
How about a dual holder combining grades from both services (graded independently) and a window to insert the sticker if warranted.
I really never really thought of collectibles as an “asset class” but I guess at some level, significant collections of very rare coins, art, baseball cards, cars, etc. they legitimately are an asset class.
Hmmm My stock Broker just liquidated my Blackstone Holdings!
100 pt scale along with obv/rev individual grading
Don't quote me on that.
Maybe Andre Iguodala will grade coins once he retires from the NBA
private equity likes debt.
I hope they don't debt up a slow growing company
Did they spot a cash cow to milk?
Lots of upside if they can break into the sports card market. I just hope they don’t lose too much interest in the coin biz.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
That is a very 1980’s PE model
Latin American Collection
From experience, what usually happens when money flows into businesses that rely on producing or ensuring the quality of a product, the ability to do so lessens, and the profit incentive becomes the dominant concern. No more, "the customer is right" because the new customer is the share holder.
Meet the new boss same as the old boss......
They can’t keep up with demand as-is. Maybe some pricing adjustments and some other things to increase efficiency.
I am surprised it has taken this long for the market to do a feeding circle around these (entrenched) high cash flow-low overhead based consumable product companies. I was always amazed at the low CLCT prices historically considering they were a high dividend company. Under the radar no longer
11.5$ Southern Dollars, The little “Big Easy” set
I think it’s a bad thing for the average guy when big money gets involved with anything.
You know they are chasing big returns or they’d be in more liquid investments. Big returns for them means higher fees for us.
And private equity doesn’t have the best track record of investing in their businesses.
https://bloomberg.com/news/articles/2021-07-01/blackstone-buys-stake-in-certified-collectibles-joined-by-jay-z
$500 Mil?
Will everyone get a raise?
Beyoncé owns NGC. Looking at raw Saints like “all the single ladies, put your hands up!” And your damaged coins like “if you liked it then you shoulda put a slab on it!”
(To tie this up for some, those are lyrics from a song, except I used “slab” instead of ”ring” and Beyoncé is married to Jay-Z)
I hope they aren't holding their breath waiting for one.
Yes like it or not
Perhaps they see straight up growth in this area.
When there are fears of inflationary pressure people look to many other baskets to put money into.
So maybe they think people will be spending more on collectable items.
Then there is the possibility of the new owners greatly expanding the business of certifying other collectable "things" which can add revenue streams. Then there is growth and expansion of collectables in other world markets such as what was seen and discussed recently right here in this thread. Or maybe it's some combination of several things including the things above.
Edit to fix thread error
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
Just Salzberg and Eichembaum - to their bank accounts.
Either Blackstone sees tremendous growth for NGC, or they will tighten the screws and get returns everywhere they can. I hope it's the former.
I do find it interesting that this Blackstone investment in NGC is happening at the exact same time that PCGS' president is leaving for greener pastures elsewhere.
Or perhaps the maturity of the market is finally being realized. i.e. Luxury Assets
I'd describe your description as part of someone's portfolio, not an asset class.
If Blackstone bought CCG based upon the prospects of world coin grading, I'm predicting a huge disappointment.
Interesting point.
Blackstone is the world’s largest private equity firm …. symbol BX.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Blackstone has other ideas. They describe this collection of stuff as an "asset class".
…Nice, a Blackstone is what my personal chef uses to cook sea creatures for me on
Lol, that's a different Blackstone.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Wall St. finally sees $'s in collectibles. A good sign for collectors.
No Way Out: Stimulus and Money Printing Are the Only Path Left
They tried to commercialize numismatics in the mid 1980s. Big run ups in Gem common date Morgans and Walkers. It didn't end well.
I can see the big fish trying to convince the uber wealthy that owning expensive coins is like owning expensive art.
Relating to this, I thought Heritage owned a piece of NGC. Is this still the case?
"Seu cabra da peste,
"Sou Mangueira......."
Collectables such as coins and trading cards are a strong trend right now and they are buying into that trend.
Strong trend or buying at the top?
I would say strong trend...wouldn't guess about buying at the top since it was a private company (NGC) I think.
Isn't NGC private previous to this
I’ve never been a customer of NGC and haven’t heard of the other company. Good for them?? 🤷♂️
Where shares involved or just an equity infusion with majority ownership
My guess is someone’s trying to make a play in the sports card arena. That’s a hot hot hot hot market and rising right now. It’s a guess
I bet their play is to streamline, increase profits, and go public.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Hope they take good care of NGC, I have heard horror Stories of companies buying other companies and then the company fails. Hope Blackstone keeps its promise of innovation and growing NGC. NGC is great and I hope it stays great.
I think it is .
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Blackstone is generally a good strategic partner in my experience.
Latin American Collection
Future Collectable ETF?
My US Mint Commemorative Medal Set
All I can say is working for a PE is very different from other funding sources. It’s all about the EBITDA.
If so, it will be a small one.