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Professional Sports Authenticator (PSA) has been hit with a class action lawsuit by a baseball card collector who claims that the appraisal company knowingly graded altered cards and sold them at auctions.
Plaintiff Eric Savoy, a baseball card collector says that he has sent his own baseball cards to PSA for grading and has bought graded cards from the company.
In fact, he believes that he has purchased at least one graded card despite the fact that it was altered.
According to the plaintiff, a card owner sends a card to PSA in order to get a rating for that card. PSA will then determine if a card is “authentic and unaltered.” If the company determines that the card is authentic, it will grade the card on a 1-10 scale, based on its physical condition. If the company finds out that the card is altered, it will not grade the card on the 1-10 scale.
The plaintiff maintains that the PSA grade will have a direct impact on the market value of the card and that a “step up” of one or two grade could increase a card’s value tenfold, depending on the value of the card.
“Contrary to its guarantees to consumers, PSA in fact graded a substantial number of altered cards on its 1-10 scale,” the PSA class action lawsuit alleges.
The plaintiff maintains that PSA knew that cards were altered when it gave them the grades on the 1-10 scale. The plaintiff states that the altered cards were then sold with their newly inflated ratings and, in July 2019, The Washington Post reported that collectors had identified $1.4 million in the sale of altered cards.
In fact, the Washington Post points to a Stan Musial card from 1952 which reportedly had a spray black print mark on a white frame and sold for $2,800 in late 2017. The article notes that, seven months later, another 1952 Stan Musial card without that print mark was sold for $28,100. Collectors are claiming that the two cards are the same item, which was allegedly altered to remove the blemish, thus inflating its value.
According to the class action lawsuit, other altered cards have stains removed and creases smoothed out in order to increase their value. Sometimes the cards are “trimmed” to create a gap between the card and the edge of the case in which it was placed, the plaintiff alleges. In addition, each card reportedly has its own distinctive characteristics such as how the image on the card is centered in the frame as well as patterns on the fibers on the cards which collect dirt or other debris. The altering of these aspects of the cards could result in a card getting a better grade than it actually deserves, the plaintiff maintains.
“Indeed, collectors were able to use PSA’s records to uncover the scheme, yet PSA contends that it continued to grade altered cards without noticing from its own records that it had previously graded those cards at a lower grade,” according to the class action lawsuit.
PSA’s fee schedule incentivizes the company to over-grade cards for consumers who are willing to pay more so that their cards can be graded, according to the PSA class action lawsuit.
“PSA charges based on the perceived market value of cards and requires consumers to self-appraise the value of their cards before submission,” the plaintiff alleges.
The plaintiff states that PSA knowingly graded cards at higher grading levels for preferred customers who gave the company a high number of cards in order to collect the fees that come with those submissions.
The PSA class action lawsuit claims that the company guarantees consumers that it will not grade altered cards and that if they purchased an altered card, they will “be made whole” for the lost value of the baseball card.
The class action lawsuit also states that the company defrauded consumers by grading cards that were altered and then selling those cards to consumers.
In addition, another defendant in this case, PWCC Marketplace LLC, is accused of knowingly selling cards that were altered that were purported to be unaltered.
“In fact, collectors identified instances in which PWCC sold PSA rated cards which were then altered, submitted to PSA, graded at a higher level, and sold through PWCC by the original buyer,” the PSA class action lawsuit states.
Potential Class Members in this case include: “Individuals who used PSA’s services to rate cards, who bought altered cards that were nonetheless rated by PSA on its 1-10 scale, and who currently hold altered PSA rated cards including, but not limited to, those purchased through PWCC.”
Have you had baseball cards appraised? Leave a message in the comments section below.
The plaintiff is represented by Marcus J. Bradley, Kiley L. Grombacher, and Robert N. Fisher of Bradley/Grombacher LLP, and Sahag Majarian II of Law Offices of Sahag Majarian.
The PSA Altered Baseball Cards Class Action Lawsuit is Eric Savoy v. Collector’s Universe, et al., Case No. 30-2020-01130892-CU-RI-CXC, in the Superior Court for the State of California, County of Orange.
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190 thoughts onPSA Card Class Action Says Altered Baseball Cards Graded and Auctioned
Just got two cards returned altered that I pulled from packs back in 1968 and 1970. Finally got the nerve to send a couple of cards in hot be graded. A pristine 1968 #45 Seaver that should have returned as at least a 9 and a 1970 #123 Maravich that I think is a 9 but could be 8-10. These cards have been in screw down cases since 1991!! Before that they were in a shoebox since I pulled them from packs at the Little League concession stand. Telling me they are altered means they are saying I cheated. PSA can go ———— themselves. What was a very exciting process for me turned out so very disappointing. I believe they are manipulating the pop numbers for the grades so as to inflate prices on certain items possibly for certain customers. Since they are a publicly traded company maybe the S.E.C. Should look into them. It would be interesting to see if their board members/managers have ties back to when this industry had some serious credibility problems.
Sent in a 1956 Mickey Mantle and card was graded PR 1 it did have 4 soft corners and a surface crease, but I checked E-Bay and found worse cards at psa 2 but the reason I’m mad is I also sent in two Nolan Ryans that I have had in my collection since I bought them in packs back in 1969, and 1970 they were both returned altered and min size I feel scammed by PSA its sad because PSA was the top grader in the industry
Now I just purchased 2 Mickey Mantles 1951 Bowman PSA 4 and 1952 Bowman PSA 4 paid over $28,000 both cards upon further inspection had crease & wrinkles. They were graded in 1991 in the very first flip cases. Now let’s see if PSA really backs their policy and integrity and regraded and pays me the difference in the higher to lower graded card Previously graded with the same standards as today
Sent in a card and declared value at $86,000, Premium 3 at a cost of $3000 to grade because I thought card could grade a 10 or at least a 9. It got a grade of 6, which makes card worth $6000. At this value, it could have been graded at a Premium 1 level for $1000 for same service, 1 day turn around. PSA will not adjust the cost when you overstate the declared value but if you understate the declared value they will make you pay for a higher level or they won’t grade your card and still charge you for the level you submitted at. Not fair. I am not a dealer or grader. They are the experts and should charge appropriately. I would never do business with PSA again.
Hi
Recently sent a high dollar card to psa under the 300 super express. received the “minimum size” kiss of death (even though the size is normal for the issue and others same size have been graded) is this pop control ??
Next, sent same card to BGS, received “authentic altered” Card was from a pack and not altered. Is that because latest news on BGC grading altered cards ???
This TPG is not only expensive but getting stressful and annoying to say the least.
Yes I believe it is pop control. It’s just too easy for psa to label a card “altered” and toss it back at you with no explanation. In the meantime they get to keep control of the pop on high grade vintage cards, keeping their values sky high and the collectors in a frenzy. See my other comment. Thank God I did not send my Ryan rookie with those first two cards. I was told by a card shop in Charlotte,N.C. in 1991 that he’d give me $1200 cash for it which is what Beckett had it valued at. He said it was one of the two best he’d ever seen. I wanted to get it graded but not if PSA is going to call it altered to keep pop# down or because I’m not one of their longtime big spending customers. I know my cards are 100% legit as I pulled them from packs when I was 10 years old. By playing these games with the pop numbers they are altering the value of their company in the minds of the stockholders and potential stockholders. This should be another lawsuit for defrauding the consumer.
SGC is looking better and better every day
How can someone get added to this class action?
Add me
How do you actually get added to this lawsuit — does anyone have contact info? PSA is an absolute scam and their “authorized dealers”are in on it.
Please add me. I have sent in 4 separate groups of cards on quarterlies specials and never received a higher grade of 7. Some of these cards came straight from packs. Also I have sent cards which would have a high value at a higher grade and came back with super low grades like 5’s and 4’s. That destroyed the actual value and I knew they were worthy of a high grade. But with grades that low there almost worthless. I ended up selling them for pennys because I thought they were legit grades. Not fair at all when collectors are spending lots of money on cards they paid lots of money for to just unfairly end up to be mid valued and sold for almost nothing. I submitted over a hundred cards within a month and only received 8 cards graded 9 and no tens. Most of them graded at 6’s. It was shocking to see how they could be graded so low.