The Card Counel

Avid sport and trading card collector; practicing CA business trial lawyer; bringing clarity to legal issues in the Hobby

[The Card Counel @TheCardCounsel]

@idcwbyfan @CardPurchaser Under its terms, it is an estimated turnaround time and people waive any and all damages caused by any delay. Get ready for the upcharge!

[The Card Counel @TheCardCounsel]

@NEOCards_Comics To me, this suggests that PSA mismanaged the business to the point it is now in crisis mode. This did not happen overnight.

[The Card Counel @TheCardCounsel]

What pending lawsuit in the hobby do you find most interesting or confusing? Panini vs Fanatics, Whatnot arbitrations, Panini vs Wildcard?

[The Card Counel @TheCardCounsel]

@ArnoldMoger @YouTube @BosCardHunter I think it’s understandable that it is not defined because there is no exact formula for a fair market value, whether in cards or other goods. The more specificity, the more chances a company deviates and gets sued. I focus on consistency more than specificity.

[The Card Counel @TheCardCounsel]

Extortion? Two Lawyers Debate If PSA Upcharges Are Legal https://t.co/fQE1QJnPbK via @YouTube

Thanks to @BosCardHunter for having me on the channel.

[The Card Counel @TheCardCounsel]

@ArnoldMoger @YouTube @BosCardHunter PSA always has the right to settle the claim for more than the cap if it wants, especially if it wants to get an NDA, etc. Frankly, it seems like the dispute resolution process worked here.

[The Card Counel @TheCardCounsel]

@ArnoldMoger @YouTube @BosCardHunter Not legal advice, just my opinion. (1) Yes, the terms give PSA the right to pay claims for damage based on the difference in value from the FMV to the new damaged (lower grade) value. (2) Yes, PSA has the right of o select the FMV at its discretion.

[The Card Counel @TheCardCounsel]

@BosCardHunter Unless the market stats to place value on other slabs, this just defers demand. The flood gates will open and we will back here. Also, this statement makes the $200M investment a PR stunt to take some of the bite off of this announcement.

[The Card Counel @TheCardCounsel]

@NEOCards_Comics This just defers demand unless the market starts to value other slabs.

[The Card Counel @TheCardCounsel]

PSA’s partial shutdown does nothing more than defer submissions unless the market is willing to place value in other slabs. It’s time for the market to correct itself otherwise we will have the same situation in four months.

[The Card Counel @TheCardCounsel]

@NEOCards_Comics Crazy.

[The Card Counel @TheCardCounsel]

@f2aler That is a very different issue. Grade manipulation or pop control of it could be proven would raise a host of legal issues both in contract and in tort. The problem is that you would need an inside source or a smoking gun type evidence. It would be a hard circumstantial case.

[The Card Counel @TheCardCounsel]

What is a legal issue in the hobby that you feel like could use more explanation or clarity based on the opinion of a practicing attorney?

[The Card Counel @TheCardCounsel]

@f2aler How accurate that opinion is compared to the stated standards should be the subject of market forces, not legal action. Frankly, I think a new grading company whose foundation is built on consistency would be a great marketing plan.

[The Card Counel @TheCardCounsel]

@f2aler @BosCardHunter @GivnerAriel Mine as well. I love when my professional passion interests with my hobby passion. Unfortunately, it has been happening to frequently these days. So many interesting issues to debate.

[The Card Counel @TheCardCounsel]

Third, if you do not agree to pay the upcharge, to get your card back, you have to pay the original grading fee but PSA will send you the card “unprocessed”, which means not graded. You pay PSA but do not get the grade.

[The Card Counel @TheCardCounsel]

There is much confusion in the hobby about @PSAcard upcharges that can addressed through PSA’s terms of service and FAQs. TLDR: they do not benefit you only @PSAcard. To hear more, check out @BosCardHunter YT channel soon where I discuss these issues

[The Card Counel @TheCardCounsel]

Second, the upcharge is pure profit to PSA. PSA states in its FAQs that paying the upcharge will not result in PSA increasing the declared value-the limit of its liability-to the increased tier for claim purposes.

[The Card Counel @TheCardCounsel]

First, maximum insured value is not insurance provided to you - it is not insurance at all. It is a declared value, which is a method to limit @PSAcard liability. Using the word “insured” is marketing to make it seem like it benefits you.