GG Update – 17/02/2023
For fortnightly updates I would suggest joining the –
FAQs from YouTube Update
Query 1 –
Submitters who have paid –
GG is responsible for the submissions at PSA and we are obliged to pay/return them. We can’t split orders from PSA to submitters plus just the added cost from PSA shipping direct to submitter unfortunately isn’t an option. Additionally we are working on the first in, first out system so orders are returned in order of submission.
The contracts are between the submitter and GG and then GG to PSA, PSA also already has a situation to deal with and I’d imagine their preference is GG to resolve this.
For submitters who have already paid for us to return orders individually we would need to have sent off every submission separately & also required payment upfront from everyone. The whole intention of the service was to save on grading fees and costs to put submissions together making this not plausible unfortunately, it’s easy to see in hindsight but the initial business model did not work like this. I would also argue the safety of £millions in upfront payments may have left the other large middlemen less aware of the cash flow issues that would arise, whereas we very quickly had to cut operating costs and balance out income and expenses efficiently.
Query 2 –
Turnaround Expectations –
I don’t want to over- promise and under deliver as could be stated from the last video therefore these expectations are safely within the realm of realism –
Oct/ Nov 2020 – Finalised by end of Jan
Jan 2021 – Finalised by the end of March
Feb 2021 – Finalised by the end of May
Although this is 2 months later than expected to wind GG down it is based on more accurate productivity numbers from the months prior to this update.
Query 3 –
Should everyone pay immediately?
Not really, as long as payments match our operating capacity then realistically there is no need to scramble to make payment until contacted. Funds are in place for a large share of outstanding over the next couple of months, once we start attacking January submissions in large quantities we will send out a communication with expectation of payment, same for February.
If you would prefer to pay now then please email connor@gradedgem.com titled URGENT – Making payment and I can allocate your funds / orders correctly on our database.
Query 4 –
Awaiting email/ communication from GG .
My apologies if you are awaiting a communication/ dispatch, unfortunately our communication channels got overloaded with queries and realistically the only way to solve that was sorting this update video out. I’m working now and the rest of the week to resolve outstanding queries and then can focus entirely on new orders returning.
Query 5 –
Updates and retiring of the update system.
Although initially useful the update system’s only purpose now is to remind submitters their cards aren’t back, by retiring the system we can fully focus on returning cards/ orders.
I will be making more of an effort to do FB/ YT updates & the big picture updater in the next few months but hopefully as people get their cards back it will become obvious progress is being made.
Query 6 –
Selling the cards unpaid for.
I do like the idea of selling the cards as a ‘mystery’ slab however it can be hard for submitters to outright give us permission to sell their cards in this or any other manner. We worked hard to lower unpaid orders amount and this may be something we explore if it rises for 2021 submissions.
Query 7 – Specials turnaround expectations
2020 – Feb 23
2021 – May 23
The above is my expected turnarounds for 2020 & 2021 submissions.
I apologise if I missed anything, so again feel free to comment below, whether you agree with the answers or not, I hope it does at least clarify your queries from our perspective.
All the best,
Connor
