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A Message from the President - Half Grade System
JoeOrlando
Posts: 122 mod
Hello All,
First, I want to make sure that the board members know that I am reading these posts and taking in all of the comments - serious or otherwise. I also want to address some things.
1) We put a lot of thought into this decision and realized it would create an emotional reaction from some hobbyists. It is a major change, there's no question about it. That being said, I stand behind it 100% because of the benefits to everyone involved. Collectors, dealers and PSA will all benefit from this decision. I am confident of that.
2) Please read the guide on our site. It seems as if many of the questions can be answered by the guide and I just want to make sure everyone knows it is there because it does walk the reader through the process, etc.
3) Message Boards can be a funny place. In some cases, you can't even be certain that the people posting are "real" or that their claims are genuine. I have been talking to a lot of people and receiving emails as well. The response has been overwhelmingly positive despite some uproar on these boards. You all should be aware of that.
4) At the end of the day, the people who should benefit the most from this new system are people like you - the people sitting on the most PSA product - the people sitting on the most potential upgrades. Yes, it will cost money to review your cards but the cost will, generally, be greatly outweighed by the increase in value.
It doesn't matter if we use the 1955 Topps Koufax example (in the guide) or a 1950's common example, the value proposition is tremendous. If you have 100 commons that are worth $80 on average in PSA 8 and PSA 9's currently sell for $500, $1,000 or more - isn't it worth finding out if those cards are 8.5's if it only costs $6 to do it? While none of us know exactly what half-grades will sell for in the beginning, it is very clear that the value is there because of the price gaps between grades. I can give you thousands of examples, it's not hard to do.
The cost of reviewing your cards can be far outweighed by the added value if you choose wisely. No, you shouldn't submit every card. Carefully look through your collection. You may want a collector/friend or dealer to assist you before you try the service. It can improve your success rate.
5) Remember...this is optional. There is no obligation to resubmit your cards.
6) While people tend to slant true public view on the boards (since the vast majority of collectors are not on the boards), believe me...less than 24 hours after the announcement, we have a lot of people calling us, excited about the service.
7) As far as the post that I made in 2003 where I said that we are not going to half grades after some debate, that was 5 years ago and I did not say - never. I was addressing the topic at that point in time and a lot has changed since then.
This new service will change the market forever and I am confident of the benefits this service will provide to owners of PSA cards, sellers and potential buyers. It took a lot of thought and, while change is never easy for anyone, sometimes it is necessary to improve the product. At the end of the day, it is our brand - PSA - that people pay for and trust. The PSA brand hasn't changed, only the grading scale has and for the better.
I appreciate all of your feedback and concerns. Please realize that I cannot be on the boards all that often but I will try to answer questions as the days progress.
Take care,
Joe Orlando
Joe Orlando
CEO, Collectors Universe, Inc.
CEO, Collectors Universe, Inc.
0
Comments
What about subs currently unlogged or in que? Can these be shelved 'til 2/1?
Raw: Tony Gonzalez (low #'d cards, and especially 1/1's) and Steve Young.
My only question is regarding the flips.
Will they change to reflect the new grading system?
Thanks!
mathew
drugs of choice
NHL hall of fame rookies
<< <i>Thank you for the insight, Joe.
My only question is regarding the flips.
Will they change to reflect the new grading system?
Thanks! >>
A slight change, such as in the past, would clear the concerns of most collectors I think.
Raw: Tony Gonzalez (low #'d cards, and especially 1/1's) and Steve Young.
//////////////////////////////////////////////////
That is what I am counting on.
I hate ANY change, but as I go through my stacks I see LOTS
of money that is likely/possibly going to end up in my pocket
because of the resub .5-scheme.
If at some point, you felt comfortable sharing some of the non-proprietary
raw data that market-research presented before you made the final decision,
ALOT of folks would be comforted.
Thanks.
PS: I am a small CLCT shareholder and LOVE the dividend.
<< <i>
<< <i>Thank you for the insight, Joe.
My only question is regarding the flips.
Will they change to reflect the new grading system?
Thanks! >>
A slight change, such as in the past, would clear the concerns of most collectors I think. >>
Perhaps instead of a red flip, it could be pink.
<< <i>My only question is regarding the flips. Will they change to reflect the new grading system?
>>
After hours of reading everyone posts and concerns with regards to this topic, this seems to be the biggest issue.
<< <i>I just posted this else where but will do so again. I just got off the phone with customer service and was told that all new in-coming orders will be graded with the .5..I was inquiring about a modern bulk sub that was received last Friday and was not yet logged and that was the answer I was told. My order will be graded with .5's.
mathew >>
Thankyou for posting their response Mathew.
Personally I am not into the crack and resubmit grade or registry sets, so I will not be giving PSA double income in hopes of a half grade, though I am not necessarily opposed to the new system either going forward. What it does though is make PSA appear to have gone from a market leader committed to their standards, to a follower in the market. It also seems like an attempt to increase revenue, as verified by your comments above.
J
Make the (now pointless) population reports FREE like everyone else's... and forget about the "6 freebie gradings."
...and... If anyone wants the SMR, they can just subscribe to it.
ALWAYS Looking for Chris Sabo cards!
Going forward I completely agree that a half point system is better. That is probably the reason for the comments you are getting.
But this doesn't address the main issue here. My family collectively has roughly $75,000 worth of PSA graded cards. This investment was made with the highest confidence of PSA. Now things have changed quite a bit and we will lose money as a result. If we do nothing but sit on our cards the value will inevitably go down as 5.5s begin to be favored over our 5s. If we send all of our cards to be graded a second time then we will lose overwhelmingly on grading fees. Frankly the suggestion that I cherry pick my cards to see which one's might get a higher score is insulting. The whole purpose of grading is that an expert has looked at my cards and determined their condition. You were paid good money for this service. Now you want me to go through them all and see if the experts were dead on or half way there, because your admitedly flawed system did not do what it was designed to. You offer nothing in the way of compesation for the enourmous finnancial hit we will take because we believed in PSA. Instead you want us to give more money for what has already been paid for.
At the very least you should change the flip to reflect a change in the system. Otherwise my cards will be judged against the .5 system unfairly to our financial loss. It has been stated by many but you have not given a reason for or against this. The change could be as simple as a number added to the beggining of each card. No one is asking you to make an overhaul that will change the appearance, but simply identify the eras in grading.
Thanks
Darren
<< <i>Hi Joe,
Going forward I completely agree that a half point system is better. That is probably the reason for the comments you are getting.
But this doesn't address the main issue here. My family collectively has roughly $75,000 worth of PSA graded cards. This investment was made with the highest confidence of PSA. Now things have changed quite a bit and we will lose money as a result. If we do nothing but sit on our cards the value will inevitably go down as 5.5s begin to be favored over our 5s. If we send all of our cards to be graded a second time then we will lose overwhelmingly on grading fees. Frankly the suggestion that I cherry pick my cards to see which one's might get a higher score is insulting. The whole purpose of grading is that an expert has looked at my cards and determined their condition. You were paid good money for this service. Now you want me to go through them all and see if the experts were dead on or half way there, because your admitedly flawed system did not do what it was designed to. You offer nothing in the way of compesation for the enourmous finnancial hit we will take because we believed in PSA. Instead you want us to give more money for what has already been paid for.
At the very least you should change the flip to reflect a change in the system. Otherwise my cards will be judged against the .5 system unfairly to our financial loss. It has been stated by many but you have not given a reason for or against this. The change could be as simple as a number added to the beggining of each card. No one is asking you to make an overhaul that will change the appearance, but simply identify the eras in grading.
Thanks
Darren >>
I agree 100% with what Darren just said. The flip has to be changed in some way. Anything else is just unfair to the collectors. Not all cards in my collection are worthy of a +.5 regrade. The $6.00 resub fee on top of the sub fee invested in them already I don't think so. Yes, it would be great to have some of my stuff regraded and bumped +.5. But not all is worth the investment. So now I have lots of cards in the $100.00 and less value not worth what they were because a PSA8 worth $100.00 is now a investment of $106.00 plus shipping to be bumped to a PSA8.5 worth what $125.00-$130.00. It's just not really worth it for me. I would rather buy more cards with my $6.00 and add them to my collection instead. "Thanks for improving thing's for us Joe"
Paul
That's an assumption a lot of people are making but I believe it's false. Half grades are nothing new in this industry. If you want to get an idea of how PSA whole grades will sell, look at how SGC 84's and 88's have sold. I just did a completed items search on ebay for SGC 84's and I saw several cards that sold above the average values for PSA 7's. Also saw cards that were smack dab in the middle and cards that were in the lower range of value. To me, centering and eye-appeal have always been the main factors that determine whether a card sells within the higher or lower end of the value range for its respective grade, and your cards won't have any less eye-appeal today than they had yesterday.
<< <i> My family collectively has roughly $75,000 worth of PSA graded cards. This investment was made with the highest confidence of PSA. Now things have changed quite a bit and we will lose money as a result. If we do nothing but sit on our cards the value will inevitably go down as 5.5s begin to be favored over our 5s.
That's an assumption a lot of people are making but I believe it's false. Half grades are nothing new in this industry. If you want to get an idea of how PSA whole grades will sell, look at how SGC 84's and 88's have sold. I just did a completed items search on ebay for SGC 84's and I saw several cards that sold above the average values for PSA 7's. Also saw cards that were smack dab in the middle and cards that were in the lower range of value. To me, centering and eye-appeal have always been the main factors that determine whether a card sells within the higher or lower end of the value range for its respective grade, and your cards won't have any less eye-appeal today than they had yesterday. >>
If 6.5s exist it will have at least some impact on the value of the 6s. Right now we have been paying the same for 6.5s and 6s. But now the distinction will be made. So the 6.5s will rise for sure and inversely the 6s should go down. We have been working on the assumption that all 6s could be 6.5s. Now that doubt is gone. The 6s are by definition not a 6.5. Huge difference.
<< <i>Your card values will not go down, unless you have PSA 8s-9s that are selling at a super-premium. >>
They could go down if it's a low end grade and they paid a premium for whatever reason.
You make money on the buy, not the sale.
I appreciate you taking the time to address many of our issues here on the boards. We know you didn't have to do so.
Regards,
Andy
<< <i>At the very least you should change the flip to reflect a change in the system. Otherwise my cards will be judged against the .5 system unfairly to our financial loss. It has been stated by many but you have not given a reason for or against this. The change could be as simple as a number added to the beggining of each card. No one is asking you to make an overhaul that will change the appearance, but simply identify the eras in grading.
Thanks
Darren >>
I pitched on the other thread that it could be as simple as new flips contain "6.0" instead of just "6" It's simple, doesn't change the look, and allows those collectors who care enough about the issue to be informed about the card as much as possible. True or not, the failure to make a distinction in the cards time of grading will be looked at by many as a way for cards that are passed around, to be continuously submitted in hoping for the .5 bump. In my opinion, something along these lines would be the least that PSA could do for all of the money that collectors have invested in the past.
My question that i dont see has been addressed anywhere is... what is to stop PSA or any company for that matter, going to .25 grades or .10, in 5 years will i be getting a nolan ryan with an 8.10 grade and have to resubmit everything i own. I am see both sides of changing it to .5 but I really wonder if this is just a stepping stone to the next level...
If a current PSA 8 cards sells for $100, then in the not to near future, 8.5's will be selling for $120 and 8's will be selling for $80. There's not a doubt in my mind.
What I also don't understand is the crack and resubmit game. If grading is so subjective between a 7, 8, or 9, and cards go from one grade to another everytime the same card is sent in, our we really suppose to believe the boys at PSA are bright enough to start including half grades??
This is stupid.
I'll answer that one............NOTHING.
Steve
Thanks for coming on and replying. I appreciate that.
I think the marketplace will take care of everything.
Steve
<< <i>From the start, I have been against .5 grades 7/10/2003 >>
<< <i>I stand behind it 100% 1/17/2008 >>
Which is it Joe? Are you against it or do you stand behind it 100%? If you stand behing it 100%, what SPECIFICALLY has changed that made you change your mind?
<< <i>The fact that I asked for the opinions of collectors and dealers just shows that WE DO LISTEN to your concerns and we do not make decisions here without considering the implications. 7/10/2003 >>
Please tell me, other than the board members (80% of which don't like the change - please see my poll), who else have you consulted with on this change? Any market research? Can you name just ONE place & date that ANY research/survey was done? Or was survey taken behind closed doors in a shareholder meeting?
Joe I stand behind you 100%. Oh wait a minute! Like a few other collectors on this board, I think SGC will get my business from now on.
SGC - SOME GRADERS CARE
<< <i>(80% of which don't like the change - please see my poll) >>
What do you think of PSA's new half point grading system?
Total Votes: 207
Like it
39 (votes) 18.84 (%)
Dislike it
137 (votes) 66.18 (%)
Undecided
31 (votes) 14.98 (%)
<< <i>
<< <i>(80% of which don't like the change - please see my poll) >>
What do you think of PSA's new half point grading system?
Total Votes: 207
Like it
39 (votes) 18.84 (%)
Dislike it
137 (votes) 66.18 (%)
Undecided
31 (votes) 14.98 (%) >>
This poll means nothing as it represents only 1% of the customer base. Not only that, but this 1% does not think like the other 99%, which makes all input useless, as Joe O. stated.
<< <i>
<< <i>
<< <i>(80% of which don't like the change - please see my poll) >>
What do you think of PSA's new half point grading system?
Total Votes: 207
Like it
39 (votes) 18.84 (%)
Dislike it
137 (votes) 66.18 (%)
Undecided
31 (votes) 14.98 (%) >>
This poll means nothing as it represents only 1% of the customer base. Not only that, but this 1% does not think like the other 99%, which makes all input useless, as Joe O. stated. >>
And don't forget that it's most likely skewed from the anti-psa board members.
Then you have alts and the alt's alt and even the alt's alt's atl.
Steve
<<<Total Votes: 207
Like it
39 (votes) 18.84 (%)
Dislike it
137 (votes) 66.18 (%)
Undecided
31 (votes) 14.98 (%) >>>>
Board of Directors (Love the idea)
8 (votes) 100.00 (%)
And, in case you didn't see their last quarter results....
Collectors Universe (CLCT) more than tripled its quarterly dividend from $.08 to $.25, but reported another quarter of losses. For the quarter ended Sep. 30, CLCT reported net revenues of $10.8 million and a loss from continuing operations of $100,000, or $0.01 per diluted share, versus net revenues of $9.9 million and income from continuing operations of $383,000, or $0.04 per diluted share in the prior year quarter.
Seeking primarily PSA graded pre-war "type" cards
My PSA Registry Sets
34 Goudey, 75 Topps Mini, Hall of Fame Complete Set, 1985 Topps Tiffany, Hall of Fame Players Complete Set
<< <i>I really like 123Sliders idea of the decimal point in the post Feb 1st submissions. Keep the flip the same, but instead of getting an 8, it will be assigned as 8.0. Great idea!
It would be the most logical and easiest transition.
Almost too easy, if you ask me...
<< <i>Ya know, if PSA really wants to 'compete' with BGS and SGC, then wipe out the $100/year membership fee.
Make the (now pointless) population reports FREE like everyone else's... and forget about the "6 freebie gradings."
...and... If anyone wants the SMR, they can just subscribe to it. >>
Joey O, you may want to read, re-read and ask Carol to interpret what this quoted post means because it is DEAD on and the most logical post in this thread.
Ripken, Brooks & Frank Robinson, Old Orioles, Sweet Spot Autos, older Redskins - Riggins, Sonny, Baugh etc and anything that catches my eye.
My ghetto sportscard webpage...All Scans - No Lists!!! Stinky Linky
<< <i>
<< <i>I really like 123Sliders idea of the decimal point in the post Feb 1st submissions. Keep the flip the same, but instead of getting an 8, it will be assigned as 8.0. Great idea!
It would be the most logical and easiest transition.
Almost too easy, if you ask me... >>
Me 3
Also any card that is resubmitted should get the .0 or .5 designation.
I can't see them cracking slabs that are not worthy of a bump.
Maybe a sticker? I dunno.
Steve
<< <i>If they do that then every card will have to be cracked out. Not feasable. What is feasable though is for them to begin using the .0 going forward. That way we willl at least now that the card was post Feb 08 graded.
I can't see them cracking slabs that are not worthy of a bump.
Maybe a sticker? I dunno.
Steve >>
If they are charging the full fee then cracking the card should not be an issue. Also there should not be a financial incentive to give a lower grade.
<< <i>I want to know how you managed to get your name up on Carol's thread?
Steve >>
I've been wondering the same thing.
Ripken in the Minors * Ripken in the Minors Facebook Page
Joe, what is being done to ensure graders are maintaining consistant standards? Are they tested whereby a stack of cards is graded by each grader with the results compared to determine consistant standard across the entire staff of graders?
Thanks.
6.5 or 7.5 ect ect be put on the same flips as the cards that were graded last week or last year. This will be my only suggestion since the main decision to go to half grades is already set in stone and I hope it works for the company and the collectors alike, and any bumps in the road will be small and hopefully smooth sailing and for some of us diehards, well please send hammer so we can beat the idea into our heads and if this does not work send some free vouchers for whiskey and beer at our local bars and dives. Sincerely Mike Felts