Goldin acquired by collectors universe - Page 2

pcptrade · 07-01-2021, 10:40 AM

Quote:

Originally Posted by Archangel1775

Can you elaborate? Does Goldin provide the same service as PWCC Vault?

Goldin Vault service is currently being offered to some Goldin members. I am sending the cards that I won in their June auction to their vault.

threepointplay · 07-01-2021, 10:40 AM

Quote:

Originally Posted by FinSoonerGMG

I understand the excitement here with this news, but is anyone concerned about the possible conflict of interest that the company most known for adding value to a raw card (PSA) now owns one of the auction houses most notable for aggressively marketing price increases?

If sports card collecting was a regulated market, designed for formal 'investing' in an alternative asset class, then yup; it would be a huge conflict of interest. But in reality the sports cards 'market' is a cesspool of dubious business practices, fraud, fakes, pump & dump schemes and numerous other shenanigans. The more the $$$ amounts involved increase, the worse things are and will continue to get.

As a little fish collector of cheap & cheerful raw cards, this item of news is a 'whatever' for me. For those sharks playing in the high-end graded / PWCC / Golden auction waters then...good luck with that.

Asian62150 · 07-01-2021, 10:41 AM

Quote:

Originally Posted by 3124508 on COMC

Per Ken, GA’s “policies concerning altered cards will NOT be changing”.

I've heard this from plenty of other companies in the past.

Then soon after new leadership is in place, things surprisingly change!

312...appreciate you and the work BODA does. Do you think this will make it easier/more difficult/same to catch trimmers and the such?

2010GBPackers · 07-01-2021, 10:51 AM

Goldin has a Vault? Where? In Ken's office?

If GA's random videos of him walking around their offices is any indication of their organization - hard pass.

pachyderm · 07-01-2021, 10:58 AM

Next they will start a sports card fund that grades with PSA and sells on Goldin. The fund would have staff with a superior ability to select raw cards that would be graded PSA 10.

3124508 on COMC · 07-01-2021, 10:59 AM

Quote:

Originally Posted by pachyderm

Next they will start a sports card fund that grades with PSA and sells on Goldin. The fund would have staff with a superior ability to select raw cards that would be graded PSA 10.

I wonder if Eagle Eye Joe is looking for a job?

pcptrade · 07-01-2021, 11:00 AM

Quote:

Originally Posted by 2010GBPackers

Goldin has a Vault? Where? In Ken's office?

If GA's random videos of him walking around their offices is any indication of their organization - hard pass.

FWIW, it will be in Delaware, which has no sales tax.

imbluestreak23 · 07-01-2021, 11:00 AM

This is fantastic!

tjforce · 07-01-2021, 11:19 AM

I'm just going to leave this here....

Not telling people what to do or not do, but just remember who you are getting into bed with

https://youtu.be/1VfXCKTaWlA

KhalDrogo · 07-01-2021, 11:28 AM

Quote:

Originally Posted by I only pull for

It should bother everyone that has any orders open with PSA that PSA continues to focus on things other than fixing their grading mess.
Yes, it is a conflict of interest that Collector's Universe owns an auction house, just like it is a conflict of interest that Beckett owns one as well.

All of my personal orders in 2021 have moved quicker than anticipated. My Collectors' Club order returned to me in four months. Very happy!

6celtics33 · 07-01-2021, 11:37 AM

Quote:

Originally Posted by tjforce

I'm just going to leave this here....

Not telling people what to do or not do, but just remember who you are getting into bed with

https://youtu.be/1VfXCKTaWlA

I called that number in the video just now to see if they had any more of those Bonds lots.

It seems they are no longer at that number.

pejc300 · 07-01-2021, 11:43 AM

I don't know what to think. All I know is PSA is not grading cards pretty much at all anymore unless you want to spend $200. Which means people are not buying low end anymore. Which means people are not breaking to grade anymore. Which means people are leaving the hobby.

COMC - would love to hear more about this potential SGC buyout. Is this a thing?

Not being able to grade cards anymore is really cutting into the bottom line of a lot of people. To think that you used to be able to get a PSA card graded for $8 and now it costs $200. Insane.

The amount of collusion that is going to happen between PSA and Goldin is going to be insane.

FinSoonerGMG · 07-01-2021, 11:47 AM

Quote:

Originally Posted by pejc300

I don't know what to think. All I know is PSA is not grading cards pretty much at all anymore unless you want to spend $200. Which means people are not buying low end anymore. Which means people are not breaking to grade anymore. Which means people are leaving the hobby.

COMC - would love to hear more about this potential SGC buyout. Is this a thing?

Not being able to grade cards anymore is really cutting into the bottom line of a lot of people. To think that you used to be able to get a PSA card graded for $8 and now it costs $200. Insane.

The amount of collusion that is going to happen between PSA and Goldin is going to be insane.

There is a place for everyone in the hobby but personally for the people leaving the hobby because they cant grade quickly and flip cards: Don't let the door hit you on the way out!

KhalDrogo · 07-01-2021, 11:54 AM

Quote:

Originally Posted by pejc300

I don't know what to think. All I know is PSA is not grading cards pretty much at all anymore unless you want to spend $200. Which means people are not buying low end anymore. Which means people are not breaking to grade anymore. Which means people are leaving the hobby

Very hyperbolic. Plenty of us are still buying low end to either keep raw or grade in the future.

pejc300 · 07-01-2021, 11:59 AM

Quote:

Originally Posted by KhalDrogo

Very hyperbolic. Plenty of us are still buying low end to either keep raw or grade in the future.

There is no grading in the future of low end.

KhalDrogo · 07-01-2021, 12:01 PM

Quote:

Originally Posted by pejc300

There is no grading in the future of low end.

I look forward to the day you're wrong. Won't be that far in the future.

i4gotmyid · 07-01-2021, 12:09 PM

Quote:

Originally Posted by 3124508 on COMC

Per Ken, GA’s “policies concerning altered cards will NOT be changing”.

Got it, so they will keep selling them until you catch it...

Quote:

Originally Posted by pejc300

There is no grading in the future of low end.

Is this why the "investors" are buying so many PSA 10 slabs of even semi good players where "the play" is to wait because PSA slabs will be the "gucci" slabs of the future

Hmm...I may have woken up on the cynical side of the bed today

pejc300 · 07-01-2021, 12:18 PM

Quote:

Originally Posted by i4gotmyid

Got it, so they will keep selling them until you catch it...

Is this why the "investors" are buying so many PSA 10 slabs of even semi good players where "the play" is to wait because PSA slabs will be the "gucci" slabs of the future

Hmm...I may have woken up on the cynical side of the bed today

I actually think there is some truth to this.

Think about this people. PSA has been shut down and not accepting submissions for over 4 months. They are still WAY WAY behind. You think they're going to open up subs for $20 or $30 knowing that they will literally be inundated with another 10 million cards that people have been holding? I don't see how they can do it. And people are not going to pay $50 to pay to grade a lower end card, especially when PSA has become way way more strict on grades. Something has to give. I think it's the low end grading market. Some people say good riddance, but it has a domino effect.

SupermanBrandon · 07-01-2021, 12:49 PM

Quote:

Originally Posted by pcptrade

Goldin Vault service is currently being offered to some Goldin members. I am sending the cards that I won in their June auction to their vault.

Why though? What's the benefit?

MyckKabongo · 07-01-2021, 12:55 PM

What ever happened with the private equity group that invested in Goldin back in January? Just a quick flip for them?

r338 · 07-01-2021, 01:03 PM

Quote:

Originally Posted by SupermanBrandon

Why though? What's the benefit?

Same benefit as PWCC Vault I guess. Makes it easy to flip.

Goldin only wants cards $10,000 or more in its vault.

Toolzs · 07-01-2021, 01:24 PM

And "we" call this still a hobby

hauntedcomputer · 07-01-2021, 01:35 PM

Quote:

Originally Posted by pejc300

Something has to give. I think it's the low end grading market. Some people say good riddance, but it has a domino effect.

I was buying slabbed vintage and nice raw vintage with the goal of grading the raw and keeping whatever came back in better grades than the slabs I already had, and selling the rest to fund the grading. I pretty much slammed the brakes on that in October (besides an ill-timed but fun diversion into Star cards this year). I mean, I don't move mountains but I spent tens of thousands there in half a year, and that money's now gone from the hobby. I am not even sure what I want to do anymore besides kick the tires on a few lowball auctions. I doubt I'm alone, judging by the drop in prices.

Sure, grading doesn't matter on five-figure cards, but for decent cards that are fifty to a hundred bucks graded, I don't see an end game or a point. Some would say that's the point, but us bottom feeders were spreading cash around. This move doesn't mean anything to me personally except reinforce the fact that grading is now a waste of my effort.

YouTheManNick · 07-01-2021, 01:46 PM

In a gold rush, the majority of the people who dig for gold walk away disappointed. It's the people selling the pickaxes and other supplies that make out like bandits.

Kobefan · 07-01-2021, 02:36 PM

Quote:

Originally Posted by YouTheManNick

In a gold rush, the majority of the people who dig for gold walk away disappointed. It's the people selling the pickaxes and other supplies that make out like bandits.

Sounds like while investors were hoarding base cards, the winners should be those who hoard toploaders.

07-01-2021, 10:51 AM	#29
2010GBPackers Member Join Date: Aug 2016 Location: Milwaukee Posts: 4,132	Goldin has a Vault? Where? In Ken's office? If GA's random videos of him walking around their offices is any indication of their organization - hard pass. __________________ "And more and more and more and more And more of less than ever before It's just too much more for your mind to absorb" - Yasiin Bey (Mos Def) Instagram: 2010gbpackers

07-01-2021, 11:00 AM	#33
imbluestreak23 Member Join Date: Mar 2012 Location: Meandering the matrix code that the hobby/forum overlords spit out Posts: 17,543 shortslabs	This is fantastic! __________________ @shortslabs I'VE WITNESSED HOW THE SAUSAGE IS MADE HERE...IT'S ROTTEN https://www.youtube.com/c/TylerShort

07-01-2021, 11:19 AM	#34
tjforce Member Join Date: Oct 2012 Posts: 22,867	I'm just going to leave this here.... Not telling people what to do or not do, but just remember who you are getting into bed with https://youtu.be/1VfXCKTaWlA __________________ "Whether you like it or not, learn to love it, because it’s the best thing going. Wooooo!"

07-01-2021, 01:46 PM	#49
YouTheManNick Member Join Date: Sep 2012 Posts: 2,548 trapjaw73 YTMN	In a gold rush, the majority of the people who dig for gold walk away disappointed. It's the people selling the pickaxes and other supplies that make out like bandits. __________________ They're = they are. Their = possession. There = "I went there." Two = 2. Too = "Me too." To = "He went to the card show." Your = "your cards." You're = "you're welcome."

07-01-2021, 10:58 AM	#30
pachyderm Member Join Date: Apr 2021 Posts: 365	Next they will start a sports card fund that grades with PSA and sells on Goldin. The fund would have staff with a superior ability to select raw cards that would be graded PSA 10.

07-01-2021, 11:43 AM	#37
pejc300 Member Join Date: Nov 2010 Posts: 10,644	I don't know what to think. All I know is PSA is not grading cards pretty much at all anymore unless you want to spend $200. Which means people are not buying low end anymore. Which means people are not breaking to grade anymore. Which means people are leaving the hobby. COMC - would love to hear more about this potential SGC buyout. Is this a thing? Not being able to grade cards anymore is really cutting into the bottom line of a lot of people. To think that you used to be able to get a PSA card graded for $8 and now it costs $200. Insane. The amount of collusion that is going to happen between PSA and Goldin is going to be insane.

07-01-2021, 12:55 PM	#45
MyckKabongo Member Join Date: Nov 2014 Posts: 1,764 MyckKabongo	What ever happened with the private equity group that invested in Goldin back in January? Just a quick flip for them?

07-01-2021, 01:24 PM	#47
Toolzs Member Join Date: May 2021 Location: Austria Posts: 18 smajo8	And "we" call this still a hobby