Gamestop Buying Graded cards is a big deal
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- čas přidán 20. 05. 2024
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Rudy's Magic Store
10950-60 San Jose Blvd.
139
Jacksonville, FL 32223
Oh you got a PSA 10 set of the Power 9. Best i can do is $50 store credit.
Ill take it! I need to liquidate all assets and buy bitcoin!
This tho
Max value for selling is $500
LMAO 100% facts. My local FLGS are like modern day highwaymen, LOL If you have cards to sell, it's E bay or GTFO, local shops will just rip you off blind.
GameStop will give you a quarter. Maybe throw in a nickle or two
From what I understand.
The highest limit is $500 per a card, but the total can be more.
Right now the slabs will be in a safe because right now they only be sold online, will be sold in store at a later date.
The slabs at the store will get ship out when bought.
The values will be at the time when the code is scanned.
Cash is lower than store credit, but pro members do get more value out of it and the values are being based from tcgplayer and card kingdom.
There was training and tools and also even visual guides to help spot conterfits but this was short notice at the store level so a lot of the training is being done on the spot while some places are getting more time to train. We will see as this will go on.
(Edited to make it more clear)
Imo thats exactly what makes it dead on arrival. Them only trading the pennystocks is gonna be a lot of work for minimal returns. Why not cater to the high end market?
@@stopfgans2496because it's to get people associating Pokemon with their store instead of going to other places, and I'm sure they know a customers' average purchases, so they're going after who's likely to do it in general.
@stopfgans2496 there aren't tons of cards with a value of over $500 and those wanting to spend big money on slabs aren't going to order from gamestop when they can get it cheaper via an auction or something. So it makes sense to have a limit.
I think the $500 might be a tad low but makes sense atleast in the beginning so they can build an inventory and also not potentially lose their ass big time on if they buy X card for $1,000 and then the price crashes for whatever reason. With a $500 buying limit they limit their risk big time and can always expand the limit later if this ends up working out for them. So it makes complete sense
"A grade 10 black lotus? I'll give you 10 bucks"
I sold like 10 GBA games with the boxes and manuals to gamestop for almost nothing years ago. what a regret haha
@@joemacallister7561 why though????
@@joemacallister7561this hurts my soul. What were they? I’m a big Pokémon fan, intelligent systems fan( fire emblem and advance wars), and final fantasy on the gba.
@@GabagoolGang I was like 3 months old when i did that. i didnt know what i was doing
“Hi, I can’t find a buyer for this card at the price I want. Will you please buy it from me at full market price, assume all the risk, pay your employees and rent and utilities and MAYBE sellthe card for the same money you have to me? That would be great. Thaaaaanks…”
We've gone full circle back to days of buying Magic cards at Software Etc.
One of my stops back in the Revised days for sure... The manager would always put a handful of packs aside for me from a new shipment because he knew I had to get my parents to drive me there after school lol. I didn't mind paying a slight markup. In my town everything sold out in a few hours back then, it was a bloodbath.
As a former GameStop Manager I’m very interested in this and find it kinda funny. It’s a smart move no doubt. I’m going to go into my local store tomorrow to talk with the manager and get the deets
GME's business model is dead and they needed to do something like this to find a new way forward. Idk how far they will lean into this or if a franchised LGS format is something people will enjoy but I do think this is a good move on their end.
Their balance sheet also isn't as bad as people would think but again if they don't adapt soon their business model is dead.
@@Livvvid Ya I think it comes down to the fact Video games are going mostly digital and they need some other physical/tangible item to flip the problem is I don’t think this in its self is enough people aren’t dumping slabs like they are games they don’t play anymore. They need maybe trade deals towards new Pokémon product and become some sort of major chain LGS like a Vintage Stock or Game Exchange
They should host tourneys are get approved too? For foot traffic double boost? Turn in a game to play in a tourney.
@@mindful_minipods It would require some major in-store renovation for them to set up tourneys. Investment in tables and seating they don't currently have, training staff to TO and judge. I don't see it happening.
@mindful_minipods maybe I'm underestimating Esports but idk if that is sustainable long term.
Maybe hosting it for free just to get foot traffic in. Offer prizes, maybe some store credit to the winner or something.
But I've seen a store in Redmond, WA that heavily leaned in on the competition aspect of an LGS and he put so much money into amazing TVs and presentation but the store quickly failed because people only showed up once or twice in big numbers. Buuuut this was in like 2016 and esports has grown since then so idk.
I’m pretty sure I heard that they will only buy cards valued at $500 or less
Junk slabs to the moon 😂
No they buy cards worth more but the payout itself max out $500 a youtuber shows this live the gamestop clarify it but it depends on the store he says
Hi worked at GS for 13 years. They are treating this like how they did cell phone sales. They are all being shipped out to corp, then they will send some cards to stores, sell most online, and sell some 3rd party. Odds are we will be seeing a gamestop slab mystery box, or they might sell them to company's that already make them, they sold the majority of phones to 3rd partys. Its the summer, video games are slow in the summer, they love to do random new things in the summer. They have something on the computer to scan the card in, all the risk is on the employees, just like with phones, if something is taken in wrong they will probably get written up immediately.
Actually whats happening is we are taking these in and locking them up. They can only be sold by online order and we are shipping them out at a store level to customers.
They're rejecting all the old slabs from what I've seen. They need the QR code. I can't see how slabs are a huge profit center for them with all the risks involved.
Slas don't work as a business model buying and selling like singles - especially at the 70% or so rate they are buying at. It only lets you stack useless product. They'll end up doing garbage loot boxes just like the Poketubers to shift them. eBay dominates the landscape for prices too Gamestop is a small player compared they can't set their own prices above market for slabs. They'll try and fail medium term after a short bounce.
The company also knows that the PSA and Ebay integration will greatly ease the liquidation on their end. They can ship all the slabs to PSA and have them deal with selling
I sure hope they will buy my metazoo. My parents are sooo pissed i still live at home.
BRO 😂😂
Metazoo was the biggest pump amd dump SCAM
@@Maxst33lebro missed the joke
@Maxst33le Far from it, doesn't even come close to the biggest scams in history. Still was a huge and obvious scam though.
@@t58beare lol duh
You are on point Rudy. GameStop management is smart now. They started selling the slabs they buy online also. They needed to find new revenue streams since they closed a lot of underperforming stores, so their revenue dropped. It's a very good thing for the hobby.
Sick pogs Rudy! Just picked up series 1 and 2 sets of Official pogs, pogggggerzzzzz
new video just dropped like 18 hours ago about this and the employee was very well informed and explained some of the things they look for and how they make offers.
Got to be tied to PSA buying the eBay vault somehow.
This backdrop makes me feel warm and fuzzy
At least we know when they set a card price high, it will NEVER come down. LOL!
You’re joking right?
Interesting Roaring Kitty was pushing GameStop stock again last week and then this news drops.
Thank you Rudy so much for your wisdom in the investment and hobby world !
Recently started watching. I love your videos sir. Wish we could sit down and just discuss business and opportunities.
Don’t stop making videos Rudy 😁
The most amusing thing. Years ago they dumpstered a ton of old video games. And now my local GameStop is carrying retro games.
Yeah but show us your high school car tho
Dude, make it! Give us a video of you selling the card to them!! Will be a lot of fun
worked at gamestop up untill a week ago. I didnt see them roll this out but heard it when they told the store managers. They plan on keeping the slabs in the store safe. At least in the store I worked at that was the plan but we had alot of theft. A store in a better location might have them on display.
Still better than your local game shop who’s been scamming locals for years
Only a fool would sell to them at the prices they offer people.
It's 50% value at best. Sometimes its 20% value.
For me it's a red flag of peak market. Atleast in a typical market environment.
Allot of these employee's have never seen a graded card. It's a set up for the mess that will end in bankruptcy
Rudi they have those prepaid mastercards they load with the money as they wont carry a ton of cash.
And yes they will reject old slabs or any slabs that dont pass their checklist
I have a few PSA graded Unl Base set cards, stuff like Chanseys and Mewtwos, that were included with trades we've done. I'll drop by the local GS today and see what they offer. I'll update this later and let you know.
You bring up some good points especially in regards to training new employees. Crime has risen quite a bit in California. If GameStop starts buying cards, I do not think they will carry cash in the store. They may have to mail out checks to the seller. All of this could cause a major headache for the company. Thank you for the video Rudy.
Way more interested in news that Hasbro stock holders are down 25% over 5 years 😆😆😆
Buy the dip, right?
I would imagine that they would use the same methodology that they use for buying video games. Employees plug the info into a computer and it spits out a price they are willing to pay and if they will buy it at all. They already have the infastructure. If done right this could be huge.
May be my ignorance what I’m about to say but… went in my local GameStop and they had a stack (huge stack) of common reverse holos for $1. I asked if they were gonna buy bulk along with PSA cards. The dude told me no PSA sent those reverse holos. Like I said may be my ignorance, but that doesn’t sound correct.
I sold some slabs to Gamestop. It was a good experience. I'm all for getting more people into graded psa cards. Why are some people so opposed to this move by Gamestop?
I mean GameStop on release of new card game related video games giving some slabbed cards raffle with purchase might be a good idea. Interested to see how this goes.
They will likely write a corporate check for trade in value over $500. It's like a guitar center. They will take a $8000 trade in, but they don't just hand out $5k cash all day.
I'd assume they'd display some of them with sealed product, but depending on the location of the store, they'd have a price cap and send the rest the rest to a mean location, offerin them in sales online, with possibility to do local pick-up. But then again, what I'd think they should do is often not what they do.
Love ya Rudy
CGC slabs are too easy to crack and slip in a lesser grade card. I’m sure that factors into GameStops decision. PSA is where the money is at!!
Not going to hand out physical cash are they? thought it was like zelle venmo etc...
Time to grade my Chronical mtg cards! I have some nice city of brass for Gamestop!
What a time to be alive
Go sell a $100 card for $25 GG
"The best I can do is $2 and a copy of Fallout 76"
What's the alternative to PSA in Europe?
How is this good for an LGS?
I was wondering when Rudy was going to weigh in on this topic!
I guess its a good way to liquidate low and mid price slabs that are harder to sell. But, it seems like they only take certain things.
Rudy just so you know from watching videos i've learned that all graded cards are shipped off to a warehouse where gamestop stores them. They also will not accept an card with a market value higher than 500 dollars for security reasons. They will not be going on display but will be resold through gamestop online
11:05 That would be really helpful Rudy
That they need to train employees but they are minimum wage so howucj do they care. And what if there friends come in for cash? Will they make a mistake on purpose? The down sides looked really bad
Wow, GameStop is going from "$5 Clearance Fat Packs" to "Graded Cards"... wow.
gamestop trying to...evolve...i see u rudy :)
They make their money through high trade volumes. That's why they buy cards at below market rate (50%-70%) and sell them at slightly below market rate (95%). They don't want to hold onto the cards because it's too risky. Instead, they focus on earning from the buying and selling process. They prioritize trade volume.
Of course, they would only offer 50-70%. Why would they buy cards from you for 80-90%? They need to make a profit. If they bought a card for 80-90% and tried to sell it for just 5-15% more, they wouldn't be able to cover operational costs such as store rent, worker wages, and other expenses.
GameStop used game prices are obscene. I used to buy used games at pawnshops. Now the local pawnshops do the same thing, but the resell is slightly less.
Sometimes I go in just to see, and they have the same games from 3 montha ago, where previously, everything except sports games sold really quickly. 😂
They have a $500 limit on any single graded card.
Is a PSA 9 DM borderless foil Force of Will for 170 a good deal?
It seems like an okay price going by what people want for it on ebay at PSA 9, but the last completed listing was Feb 28th at 145 with shipping.
@@ManaDrain315 thanks for the response. Im actually kinda scared its not real now from all this rudy talk 😂
Right now it's all online so the store must have to ship them back. The online store is live right now
If i get more momey in store credit then that alone i can keep my money there buy something i perfer or box sets
Holy god.
The logistics of this is Insane.
I would not want to be that guy
Good to spread collectables, if they can check for authenticity and all.
Rudy I live Jax and got psa graded Pokémon, I will donate a card to you to test out that exchange for the GameStop at St Johns if you want!
GameStop is going to be Blockbuster sooner than later
My tinfoil theory is that they partnered with someone like mj holding (makers of mystery slabs/boxes/bulk cards.) Would make this make a lot of sense
MJ Holdings is the official retail distro for NA. The mystery things are them selling off leftover stock. Konami, Hasbro etc. do not do business with retail stores directly.
They sell the product to MJ Holdings and then MJ Holdings rent shelf space from Walmart, Target etc. and then have one of their guys come in and stock it. This is the primary reason that everything is more expensive in retail stores than if you went to an LGS - they get them for MSRP and need to make money on the sale.
I don't know if they sold cards previously because I've never gone there for anything but games but if they did then - at least in North America - they were already in business with them because they're a retail store and North America loves it's totally not monopolies.
I know all that. I meant a partneship involving sourcing slabs and cards from gamestop. Not all of them obviously, but they make a LOT of those mystery boxes. MJ holding also buys a lot of bulk for LGSes, or at least some. But beyond that, as you note, they dont deal much with non-retail. But that makes it more likely that an expansion or strategic partnership by MJ Holding would happen with a company they already have inroads with.
This obviously isnt a 1 for 1. But imagine, for instance, if a company was willing to pay x amount for y dollar slab, which they then make an insane percentage on via something like a mystery box. In this theory they wouldnt be the primary buyer, the public still is. But it could mean a nice soft floor for gamestop to try an expansion of their own.
My thoughts, GameStop is accumulating all these slabs, bring them to Central location, .I feel like in the near future GameStop will release mystery bags. If I wanted to start a mystery slab product, this is one way to start. . Or am I crazy?
Roodie!! Why are you not paying child support for our MetaZoo baby?! The dna test was unambiguous
Fuck, Gamestop trade in is more insulting than Rudy's 69%, and that's saying something. Lol I couldn't resist.
I would hope gamestop was smart enough to send each store doing this a cheap psa slab with the old label and new label so they can compare it to slabs being sold to or traded in to them
Next time MTG bottoms out; Rudy buying Game Stop.
It’s cards under 500 and only the newer psa cards
Buying that dip
May PSA will acquire GameStop stock allowing to build centric in price manipulation of slabs in the future.
Translation - Rudy doesn't like competition.
They could just hire Rudy as some sort of a guidance councilor for a fee. Maybe they could pay in power 9 cards.
Should gamestop add LGS to their business model? I would go in store if I knew they had cards and tables...
Trying to buy. Whether the market will sell it, thats another story
I'm all in on VIBRATING THINGS
GME did this with retro video games ten years ago. Nothing came of it because using the internet is much easier and you make more.
And then again not too long ago maybe 4 years ago when they started buying iPhones.
This is going to turn into a beautiful amazing shitshow to witness😂 OMG the potential is awesome
I watched a CZcamsr take a few slabs to a GameStop and the manager said they'll be adding BGS and CGC shortly.
it's all in or nothing at all, hard to change things (hard I mean time consuming and sometimes nearly impossible because of the shear subject being discussed)
High value cards will provide better given a range. You agree to the range then it’s sent off and you get mailed a check or money to your account
if they take a picture and send it for a price quote they will get scammed by slab swappers just how scammers give a 1kg bag of gold and swap it after it got checked lol!
Ive long talked about why GME is dead but the caveat was finding a new model/revenue stream.
Their balance sheet actually isnt as bad as people may think either. Yes they are closing stores left and right but they do it before the locations costed them too much more.
They have a cash position to invest into a new strategy.
If they want to go beyond just buying and selling cards, maybe a franchise like setting, im not sure gamers would be into a "corporate" franchised LGS model.
I have a feeling Gamestop is about to get hosed hard. I really wonder how well trained these peeps are gonna be to spot fakes.
They already sell sealed product. They might as well sell singles
using the mail got me before, in store a good thing
As a parent of two kiddos with decent Pokemon collections, I have no interest going Ebay to sell. While I know that some local LGS buy singles (due to history with MTG), the average parent may not be aware and Gamestop might be able to tap into that market. Buy booster; find shiny; visit Gamestop; provide instructions to slab; return with slab and buy more Pokemon boosters. My older kiddo told me the kids at school were tearing up shiny cards to "prove" they were real lolwat. As kids get older, they may want to convert their Pokemon assets into consoles or other non-collectibles. Checking authenticity is a known problem. They can tweak their prices to account for losses. Thanks Rudy.
PSA is owned by the Citadel hedge fund people that wrecked Gamestop 😂
Bro no it isn’t 😂😂 there’s no way lol
👀
Nah, Not needing physical copies of games killed gamestop
@@TheGoorru Indeed. Game publishers and 'Games as a Service' business models ruined Gamestop.
Oh my.
Rudy, take one of your slabs to Gamestop and see how they handle it and what they offer you.
Having seen how Gamestop handled buying and selling retro games which was much less of a stretch than this, I predict amusing disaster.
well I think the idea here is that they only need to recognize the slab as real and untampered with.
well, that's kinda the reasoning for the slabbing in the first place to make them more of a commodity.
Gamestop is under new leadership.
i saw this the other day i got an email and almost sharted
To me, this is the right move. TCG and Video Games go hand in hand at this point.
I was literally just wondering why GameStop hadn’t pivoted to something like this earlier. It looks like the only way out of their situation.
50¢ on the dollar - the cost of slabbing. Pokemon is a scam
Spend $300 on packs. Pull $100 card. $15 to grade. Sell for $60 store credit. Repeat that’s the business model GS wants
Then there’s the suckers who are gonna buy the slabs
Roooooody! Make a video of buying a slab online and walking it into a GameStop. First person view. Do it!!!
They pay through venmo I thought?
According to their website the maximum amount of dollars or store credit u can get is $500
there is only 1 game stop left in my city. i never go there
Come on Rudy! Get out of your basement and try it out!
If anything, the Gamestop announcement is good for PSA.
I just come here for the, “Folks.”