Collectors Holdings Hit With Antitrust Class Action Over PSA, SGC, and Beckett Roll-Up
A California class action is accusing Collectors Holdings of monopolizing the card grading market through its acquisitions of SGC and Beckett. The lawsuit asks for damages — and forced divestment. Here is what it means for PSA, grading competition, and your slabs.
Antitrust Class Action Targets Collectors Holdings — and the Grading Market
A class action lawsuit filed in California is now putting the heart of the grading industry under legal scrutiny. Plaintiff Michael Rasmussen has sued Collectors Holdings — the parent company of PSA, and owner of SGC, with a pending acquisition of Beckett (BGS) — alleging that a series of acquisitions have illegally monopolized the trading card grading market.
The Core Allegation
According to the complaint, Collectors Holdings now controls approximately 80 percent of the grading market by volume. The pre-acquisition landscape looked very different:
- PSA: ~72 percent market share
- CGC: ~18 percent market share
- SGC: ~5 percent market share
- BGS: ~3 percent market share
By rolling up SGC and moving to acquire Beckett, the lawsuit argues, Collectors Holdings has effectively eliminated two of the four independent alternatives that collectors relied on to keep grading competitive. CGC is now the only major competitor not under the Collectors umbrella.
What the Lawsuit Wants
Rasmussen is seeking damages for the proposed class — collectors who paid allegedly inflated grading fees — and, notably, forced divestment. In plain English, the plaintiffs want the court to unwind at least part of the SGC and Beckett deals.
The Price Story
The complaint leans heavily on pricing data. After both acquisitions, grading fees at SGC and the early-stage Beckett integration reportedly went up, and turnaround times got longer. PSA also pushed through price increases in September 2025 and again in February 2026, with the February hike adding about $5 per card across the bottom five tiers.
That kind of simultaneous price movement across formerly-competing graders is exactly the pattern antitrust regulators look for.
Congress Is Watching Too
The lawsuit is not the only pressure point. Earlier this year, Congressman Pat Ryan sent a formal letter to the Federal Trade Commission urging an investigation into Collectors Holdings' market behavior. No formal FTC investigation has been publicly announced, but the combination of litigation plus Congressional attention is a meaningful headwind.
What It Means for Collectors Right Now
- Your existing slabs are safe. Nothing about this litigation changes the legitimacy or value of a card you already own.
- Grading competition may actually increase. CGC is the obvious beneficiary, and reports already show about a 15 percent uptick in submissions to alternative graders.
- Prices probably will not drop in the short term. Even if the lawsuit succeeds, unwinding an acquisition takes years.
Know Your Options
This is a good moment for collectors to get reacquainted with the full grading landscape — not just default to "send it to PSA." Different graders have different strengths for different eras and card types, and a healthier competitive market benefits everyone. Local card shops are usually the fastest way to get honest input on which grader makes sense for which submission. Find a shop near you and start the conversation.