Late Wednesday night Darren Rovell sent the posts that shook The Hobby:
Subsequently, Rovell added this bit of information:
"Both brands will still live separately". While there is no other information currently, the ramifications could reverberate around the hobby for years. Old Slabs, New Slabs, market reaction and so much more come to mind immediately.
But, I'm also skeptical of the companies staying separate. Why would Collectors, who owns 78% of the grading market with PSA, buy a company with 7% of the market if there was not going to be some plan to work together. Nat Turner, in a recent interview with Hobby News Daily, talked about the New Jersey office not being fully staffed with graders. Could the grading talent be the target?
At this point everything is a hypothetical. However, I do know that this is huge news for The Hobby and Hobby News Daily will keep track of new developments.
Thursday Afternoon Update: After speaking with Nat Turner, I can clarify some information about the Collectors' acquisition of SGC. First and most clearly expressed, was the fact that SGC will operate separately from PSA for the foreseeable future. Nat Turner made it clear that many industries operate with multiple brands in the same category and this is no different. He mentioned Hotels, Cars, and other industries as examples.
Also, no luck in the near future for those who want a Universal Registry. That is not at the forefront at this time. However, it appears that a SCG registry and possibly universal checklist could be available sooner according to Turner.
Most interesting to me was that talks between the companies started over how to stop counterfeit cards and a mutual interest in solving that problem. According to Turner, it became clear that there were larger ways in which it would benefit both companies to work together. Technology and counterfeit protection remain a shared priority.
We will continue to update as necessary.
My friend Mike-JWH did a great video on some other news and whispers he's heard. I can confirm that I have had sources tell me they have heard that Goldin Auctions is being sold, most likely to a large online marketplace. Enjoy the video...