Those who are into sports cards know a thing or two about PSA and Goldin Auctions. The former is an industry leader when it comes to card authentication and grading, while the latter is known for auctioning high-end sports memorabilia items. Thanks to a recent development, these two companies will soon become closer together than ever.
Goldin Auctions Acquired by Collectors Holdings https://t.co/GiMY3P8niP
— The CardFathers (@TheCardFathers) July 1, 2021
Just recently, Collectors Holdings, a group led by Collectors Universe Executive Chairman Nat Turner and New York Mets owner Steve Cohen, acquired Goldin Auctions. The price was not disclosed by either party. Moreover, Collectors Universe is the parent company of PSA.
In a press release, both sides stated that the operations of PSA and Goldin Auctions will be independent of each other. The grading company will still be allowed to work with other auction houses, while the latter will accept cards from other grading entities.
In the same statement, Turner said that he is excited to work with Ken Goldin using a shared vision of innovative technology. Turner added that this move will help the industry grow for the benefit of all.
For his part, Goldin said that the hobby’s explosive growth, which has been fueled by the influx of young collectors and new markets overseas, won’t be slowed down anytime soon. He added that they have a lot of plans every hobbyist will love.
Earlier this year, The Chernin Group, which counts Mark Cuban and Kevin Durant as its members, invested $40 million in Goldin Auctions. This was done to help expand the company’s operations to other countries.
While the specifics of this new deal aren’t out yet, the possibilities being presented to the hobby are endless. Overall, it can help the card industry ascend to another level, much to the benefit of collectors all over the world.
We'll see how exactly this impacts PSA and Goldin Auctions moving forward.