After the acquisition of Collectors Universe (PCGS), more changes are coming to the grading world with Blackstone Group acquired a majority stake in the Certified Collectibles Group (which includes NGC). "The investment firm said the transaction values the company at more than $500 million. Blackstone said CCG's founder Mark Salzberg and its CEO Steven Eichenbaum will retain a significant minority stake." "Blackstone said it plans to accelerate CCG's growth, enabling the company to invest significantly in its current and planned services, adding and training new employees, expanding its geographic and product reach, acquiring new technologies and developing its digital presence." https://www.marketwatch.com/story/blackstone-to-acquire-certified-collectibles-group-271625149366
Both PCGS and NGC are becoming more corporate. The acquisition of PCGS will eventually end PCGS’ association with CLCT, as there is more money to be made in the trading card market. NGC has always been a solid organization, but has had major problems meeting reasonable submission return timetables. The infusion of corporate cash will obviously help NGC. I have always liked NGC, myself. It is a well run company. In many ways they are superior to PCGS.
Indeed...or at least they were. Who knows what these changes will bring...? Am hearing that computer-aided grading is in the works for at least one of them...with the other to follow if they/others want to remain solvent/viable in keeping up with the times, et al. A good thing.
NGC's parent company had also recently dove into trading cards. Part of me wonders if that side of the company is the new owners main target.
NGC Economy Class will be $45 each by the end of 2022 I predict. the justification of new security features and enhanced services for members = more money for the new owners, more special treatment for the whales.
I really like NGC's website. As a fairly new collector, I find it very useful when buying graded coins online since each coin has a unique identifier. I hope that doesn't change.
They started doing trading cards in 2020. They had been doing comic books and other collectibles for about 20 years.
Baseball cards and sports cards already had some long established grading companies with very loyal followings, wonder what could they offer thats not already been done? I used to collect back in the 1990's/Early 2000's. when baseball made Topps a monoply again i got out as I was a big Donruss Fan. Atleast with coins in a SHTF situation you can buy or trade with a silver dollar.
Honestly, when I saw them enter the industry my first thought was they wanted to "get in on the action" as PSA (CU) and Beckett, who are the primary companies, are booming. I don't think it's about bringing in anything new.
It makes me wonder, will both PCGS and NGC decline enough to make it worthwhile for someone new to enter (or to bring up ICG and Anacs)? Or will people remain loyal to the top two even if customer service keeps declining and prices keep going up?
This may be dwarfed by the Cohen deal today. CCG does not think things out. This is gonna hurt. McKinsey won't come out looking like brainiacs on this one. They should have seen Cohen coming and retreated very fast...Custer missed the know your enemy signs also, and we know what happened there. edit: changed CGC to CCG
If I purchase a coin already slabbed great, but I do not send any of my inventory to TPG's. My guess is as good as any ones, in my opinion, end of story.
The same logic youre using applies to NGC as well. I really don't understand why so many people are acting like PCGS is just going to get dumped like you can't have PSA and PCGS under the same umbrella. All the divisions are profitable and self running, you don't just dump those especially not when they add to the prestige. The only way PCGS is getting sold is if someone decides to offers several hundred million for it If I remember correctly they launched it around the time PSA was getting absolutely killed with submissions and had to stop accepting anything but walkthrough in order to catch up. I'd want a piece of that pie too if I was them