SGC has finally made an announcement in terms of an update to their grading service, simplifying it into two separate payment tiers.
It’s a welcome change after some collectors were forced to wait months to get their cards back, while it’s a major shakeup in terms of how they run their business.
They’ve seen increasing numbers of new users since PSA was forced to stop taking orders during the Covid-19 outbreak, but many were unhappy with the amount of time it took to get their graded items back.
Here’s everything you need to know about the new updates to the SGC grading service.
A Letter to Collectors
The President of SGC, Peter Steinberg, took the time to pen an open letter to the many collectors and investors who have started using the service recently;
“After giving it a tremendous amount of thought, we’ve decided that, rather than providing a hard (and unfortunately inaccurate) estimate of when to expect your orders to be completed, we’re giving you a very fluid, but transparent, and (hopefully) accurate idea of when to expect your cards to be on their way back to you.”
Transparency should always be welcomed, while it’ll be a relief for anyone who was planning to use their grading service in the coming weeks.
If you’re still waiting to receive your cards from the company, they’ve promised that “all existing orders will be processed based on their existing priority and all orders received moving forward will fall behind them”, so you won’t be left in limbo.
The Levels of SGC Grading
I Can Wait
The basic level of service is titled, “I Can Wait.” There’s no guaranteed turnaround time for graded cards, and the service offers no specific time frame. Priced at a minimum of $10 per card, it matches the amount SGC has charged most customers for years.
It’s a basic service, but it’s a decent option if you’re working within a tight budget.
Need Them Now
The new premium tier is called; “Need Them Now.” According to SGC, this will take approximately three to five business days, which is pretty damn fast! They admit that this is also an estimate, but they say that “customers should not expect to wait far past the five business day mark to see that their orders have been marked shipped and are on their way back to them.”
This tier is priced at a minimum of $100 per card, which is a significant outlay if you were hoping to get your collection graded as quickly as possible.
However, neither tier offers a flat fee for grading per card, and it’ll also depend on the value of your items. As such, pricing begins at $10 for cards valued under $250, but that goes up to $85 if the declared value is $3,500 or over.
SGC Grading: Summary
The trouble is, SGC arguably grew too quickly, and it might have an impact on their reputation in the future. After all, some collectors and investors will undoubtedly be annoyed by their experience with the service, while there’s a chance that they might have lost money if they were hoping for a quick flip, and we’re left waiting for grades instead.
Steinberg took the time to apologize, detailing how he hoped the new changes would stop delays in the future;
“I understand that many of you submitted after hearing about SGC’s lightning-fast turnaround times and what you were delivered was, unfortunately, the opposite. I would like to offer my sincerest apologies to you all and I hope that the massive investments we continue to make in our operation continue to pay off and mitigate these delays.”
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There’s no telling what the long-term consequences will be, but it’s likely that SGC will be able to provide a more professional service if the money they make is reinvested into the grading service.
For most collectors, a combination of speed and accuracy is key for grading cards, and you’ll now be able to get a quick turnaround time when using SGC’s ‘Need Them Now’ service.