This is why you always challenge PSA pricing
A PSA customer whose card was damaged during grading received an unfair insurance settlement of $600 for a PSA 10 card valued at $925. After challenging PSA's pricing comparables with evidence of a $775 sale, the offer was increased to $500 maximum insured value, illustrating the importance of disputing PSA valuations.
Summary
The transcript describes a case where PSA damaged a trading card during the grading process, downgrading it from a PSA 10 to a PSA 9. Rather than regrading, PSA offered to credit the customer the difference between grades and waive the grading fee. However, the initial settlement offer was problematic: PSA's own data showed the PSA 10 was worth $925, yet they assigned only $600 to the damaged card—approximately 70% of the stated value. The customer reached out for advice on how to proceed. Upon investigation, a comparable PSA 10 sale was found selling for $775, which exceeded PSA's $600 valuation. The speaker advised the customer to challenge PSA's pricing comparables, a right that customers possess. PSA's pricing department subsequently reviewed the case and acknowledged that recent market activity placed comparable PSA 9 examples at $240-$260, and agreed to consider the $775 PSA 10 sale the customer provided. Following this challenge, PSA increased their offer to $500, which represents the maximum insured value but still falls short of the original $925 valuation. The speaker concludes by emphasizing that customers should always challenge PSA on their comparable values, pricing decisions, and upcharges.
Key Insights
- PSA assigned a $600 value to a damaged card when their own data showed the undamaged PSA 10 was worth $925, representing only 70% of the stated value in their settlement offer
- A comparable PSA 10 sale was found in the market for $775, which directly contradicted PSA's $600 valuation and provided evidence to challenge their pricing
- Customers have the explicit right to challenge PSA's pricing comparables and can dispute the valuations assigned to their damaged cards
- After the customer challenged the comparables with market evidence, PSA's pricing department increased the offer from $600 to $500 (the maximum insured value) while acknowledging recent market activity
- PSA's pricing department cited $240-$260 range for comparable PSA 9 examples despite initially offering $600 for the downgraded card, suggesting inconsistent valuation methodology
Topics
Transcript
[0:00] Pay damaged this guy's card and instead of a 10, it became a nine. So, they decided to credit him the difference between the grades and wave the grading fee. Problem is, they were only giving him about 70% of what they said the PSA 10 was worth. So, you see their own data here saying 925. They assigned a $600 value to it. So, the guy emails me. He's like, "What do I do?" He found a PSA 10 that sold for $775, which is definitely over 600. I told him, "Challenge the comp." Which, by the way, you are allowed to do. Challenge the comps. Then they came back and said, "During our review, the pricing department…
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