After considerable thought, PSA/DNA has decided to cease issuing Auction-Style Letters of Authenticity. Several years ago, this system was created to merely let bidders know that our autograph experts have reviewed the lot in question and, if the winning bidder of that lot chose to, they could send the item (along with the Auction LOA) to PSA/DNA immediately following the auction for full authentication at a discounted rate.
This full service ensures that your item is registered in our database, daubed with our patented DNA, issued a unique serial number and photographed (if applicable) amongst other things. A summary of the full authentication process and the benefits associated with the program can be viewed online by clicking here.
It became apparent, over time, that the vast majority of the winning bidders were assuming these Auction LOAs were equal to full authentication letters despite our company's efforts to distinguish between the two. We feel it is important that collectors know exactly what they are and are not getting with Auction LOAs, whether it is a PSA/DNA Auction LOA or another service's product.
Since our decision to eliminate this program, we have parted ways with certain auction companies as they have insisted on continuing the program. It is of our opinion that, while this program did serve a purpose in the past, it is NOT good for the consumer or the hobby. The Auction LOAs have been misrepresented by some sellers and it is important that buyers understand exactly what they are getting when they receive an Auction LOA from an auction house.
In response, PSA/DNA will be offering a few new services in 2009, including but not limited to the following:
- For Auction Houses that do not utilize PSA/DNA Authentication Services, an Auction Autograph Crossover Service will be offered where winning bidders are eligible for a 30% discount in exchange for turning in their Auction LOA from a competitor.
- An Auction Quick Opinion Service will come available on our own website where hobbyists can request that our experts review autographed items (not already authenticated by PSA/DNA) in any current auction for only $10. Much like the eBay/PSA/DNA Quick Opinion service, that fee can be used as a credit towards any PSA/DNA submission after the auction.
Our new Pre-Certified Auction Service will appear in some major auction catalogues in 2009. A brief description of this new service is listed below:
A PSA/DNA Pre-Certified lot is one that has been reviewed by PSA/DNA autograph experts. The winning bidder of any lot that contains this special designation will be eligible for a substantial discount if they choose to submit the autographs directly to PSA/DNA. To take advantage of this special offer, the items must be submitted within 60 days of the auction close with receipt or proof of purchase from the auction house. The rate chart for Pre-Certified lots can be found on www.psacard.com under List of Services.
This service was designed to notify potential bidders that the autographed lot in question will pass PSA/DNA if they choose to submit the item for authentication immediately following the auction. Not only will the winning bidder be eligible for a substantial discount, they will also receive all of the benefits that full authentication provides (noted above).
In conclusion and as a reminder, it is important that bidders fully understand what each auction house is offering along with their autographed lots. That piece of paper (Auction LOA) you receive from an auction house may not be what you think it is but submitting autographs acquired from these auctions for full authentication is easy and well worth the investment. Our mission is to ensure that winning bidders, especially collectors, are made aware of the benefits that full authentication provides and encourage them to take advantage of the special rates associated with our new programs.