The recent fuss over the PNG endorsement...

dan1ecu

Greetings, All -

In your opinion, is it ethical for organizations with clout to sell their endorsements? Knowing that the grading services wanted their endorsement, the PNG made quite a profit by selling theirs.

I wonder how many collectors who are impressed with "Official Grading Company of the PNG" on the label know that someone had to pay for the right to say that. (In other words, it's not an earned honor)

Universities do the same thing. Whomever gives the biggest donation is named the "Distinguished Alumnus," or whatever.

Is the buying and selling of endorsements for the purpose of making a profit ethical? Is it an inappropriate way to manipulate the buying public?

Dan

mgoodm3

It's advertising, pure and simple. If I pay enough money to Greece, I could be the official coin collector to the Summer Olympics.

Cladiator

I think it's lame. An endorsement should be awarded not purchased.

ealandg

Well, we definitely see it in other industries. For example, we know that sports stars are paid for their endorsements.

I think we all just assumed that this was a little different since the PNG is a non-profit organization that is advertising itself as something of a "watch dog". Well, now we all know.

razorface1027

Is the buying and selling of endorsements for the purpose of making a profit ethical? Is it an inappropriate way to manipulate the buying public?

Some may call it ethical. Most would call it logical. Welcome to capitalist America Otherwise known as "Any which way you can."

zenny

it appears that the only tpg's up for the possible endorsement were NGC and PCGS, (ANACS doesn't even appear to have had a shot at it).

i think that says something....

DCAMFranklin

Here is quote from John Feigenbaum, of DLRC, across the street.



<< <i>p.s. I'm not exactly sure what was edited from my posting on the CU board, but Mr. Hall contacted me directly and told me that I was not allowed to post the web address of the PNG (www.pngdealers.com) or I would be kicked off. I told him if that was the case, then take it off my post to which he said, "I already did." I really don't understand the animosity surrounding this issue at all. I feel like Rodney King and just want to say, "can't we all get along." I mean really.... >>



Statement can be found here:

RESPONSE

Barry

Not that the endorsement by PNG means anything to most of us (8% of respondents to this poll cared), but an endorsement that is bought should be discolsed as such.

MrEureka

In your opinion, is it ethical for organizations with clout to sell their endorsements?

As long as it's in the best interest of the members of the organization, why not?

More specifically, I do not have a problem with the PNG or ANA selling an endorsement to a TPG, provided that the TPG is competent and honest.

On the other hand, if I were a PNG dealer I'd be asking some very pointed questions about the bidding process to the organization's leaders.