Ebay Acquires Goldin 0

[circumstances]

And other goings-on:

https://www.instagram.com/sportscardinvestor/p/C5lDCIlsN3b/

 

 

[Mmehdy]

Watch for a possible run at CGC with E-Bay and PSA...here is some food for thought

1-PSA/Ebay buys CBCS and then intergrades with existing platforms...least likely

2-PSA/Ebay create a third comic book grading company...most likely

3-CGC buys CBCS and merges them and head off PSA/Ebay...less likely, but in my opinion the best option for CGC to keep market dominance.

4-HA and CGC merge...possible with blackstone taking some equity in HA....longshot

 Look for the pot to be stirred up in 2025!!!! 

5-A comic book storage company is created by THEM - where you buy the GA book on Ebay  raw and with a click of a button they send it to PSA and then after grading, they store it for you and put it up on Goldin auctions or back on E-bay as a graded book all at a big discount if you use all services at once, you can buy it from them  in auction and then keep it stored and auction it with other auction houses who accept the storage as ownership  or back on e-bay...the cycle never ends, except the PSA and Ebay win big time.....

your thoughts on this take!!!

Edited April 11 by Mmehdy

[Yorick]

My thought is that there are massive conflicts of interest.

[Mmehdy]

On 4/11/2024 at 11:08 AM, Yorick said:

My thought is that there are massive conflicts of interest.

spot on.....but the bigger the badder they are...the more they can get away with!

[pemart1966]

eBay will find some way to ball this all up...

[Mmehdy]

which makes them a big player on the block...how about them going after CL?

[Yorick]

On 4/14/2024 at 10:58 AM, Mmehdy said:

which makes them a big player on the block...how about them going after CL?

I'll probably need to get my seller account back online...

[lou_fine]

On 4/11/2024 at 10:48 AM, Mmehdy said:

4-HA and CGC merge...possible with blackstone taking some equity in HA....longshot

 

your thoughts on this take!!!

Not sure about an official merger or anything like that, but isn't there already some kind of "indirect" or small partial ownership linkage between Heritage and the umbrella CCG group (now taken over by Blackstone) where CGC falls under?     

[lou_fine]

On 4/11/2024 at 1:10 PM, Mmehdy said:

On 4/11/2024 at 11:08 AM, Yorick said:

My thought is that there are massive conflicts of interest.

spot on.....but the bigger the badder they are...the more they can get away with!

Now, now now.................let's NOT turn this into another thread on the Over PROMISE and Under Deliver pedigree collection of books.    

[Yorick]

On 4/14/2024 at 9:53 PM, lou_fine said:

Under Deliver pedigree

Can I claim that pedigree for my collection?

[sfcityduck]

On 4/11/2024 at 10:48 AM, Mmehdy said:

Watch for a possible run at CGC with E-Bay and PSA...here is some food for thought

1-PSA/Ebay buys CBCS and then intergrades with existing platforms...least likely

2-PSA/Ebay create a third comic book grading company...most likely

3-CGC buys CBCS and merges them and head off PSA/Ebay...less likely, but in my opinion the best option for CGC to keep market dominance.

4-HA and CGC merge...possible with blackstone taking some equity in HA....longshot

 Look for the pot to be stirred up in 2025!!!! 

5-A comic book storage company is created by THEM - where you buy the GA book on Ebay  raw and with a click of a button they send it to PSA and then after grading, they store it for you and put it up on Goldin auctions or back on E-bay as a graded book all at a big discount if you use all services at once, you can buy it from them  in auction and then keep it stored and auction it with other auction houses who accept the storage as ownership  or back on e-bay...the cycle never ends, except the PSA and Ebay win big time.....

your thoughts on this take!!!

eBay's fundamental business principle is to avoid ever touching any inventory. eBay's business is to (1) host classifieds - taking a percentage and (2) facilitate payments - taking a percentage, while all the while avoiding the many legal perils it could face if it ever touched the inventory. 

So what happened here is consistent with that principle. eBay bought Goldin, but sold the Vault operation to PSA. 

So eBay can now offer both its traditional classified ad service (where it does not touch the inventory at all) and a hybrid online-live auction model such as is presently offered by places like live Liveauctioneers (home to Hakes, PBA, etc.). 

PSA now does grading and vaulting, which presumably will include vaulting the items to be sold through Golden (mainly sports stuff which generally requires authentication).

Both companies have agreed to stay in their lanes and to work with one another - probably a win-win. eBay gets auction referrals from PSA. PSA gets grading referrals from eBay.

https://www.ebayinc.com/stories/news/ebay-collectors-enter-into-commercial-agreement-sign-deals-for-acquisition-of-goldin-by-ebay-and-acquisition-of-the-ebay-vault-by-psa/

I don't see Heritage as a player in the thinking on this eBay-PSA deal. It seems more motivated by focusing on their strengths.  My guess is that Heritage is very happy staying a high end player that doesn't attempt to compete with eBay and its millions of small transactions. Heritage is going after a high end auction house model, and it is has climbed to the top of the second tier of auction houses. If Heritage wants an exits strategy, the most likely one is sell out to Christies or Sotheby. More likely, they will keep chasing those houses in the hope they can get closer to their size. They have a ways to go.

Edited April 16 by sfcityduck