Collectors Universe and QuikDrop Announce Joint eBay Customer Protection Plan
QuikDrop International and Collectors Universe, Inc. (NASDAQ: CLCT) today
announced a joint consumer protection plan to prevent fakes and forgeries from
being offered for sale on eBay. QuikDrop customers now can automatically have
their sports cards and sports memorabilia, autographs and rare coins and stamps
authenticated by Collectors Universe experts prior to posting them for sale on
eBay. QuikDrop International
in Costa Mesa, California, is the first and largest eBay drop-off store franchise
with eight facilities now located in five states. Franchise contracts are in place to
open over 250 stores in the United States and 75 stores internationally.
in Santa Ana, California, is the world's largest third-party authentication and grading
service for collectibles. "Several years ago, the FBI estimated as much as 90
percent of all sports autographs on the market are forgeries. Our exclusive
agreement with QuikDrop can help drastically reduce potential problems and
restore confidence to buyers of sports memorabilia; trading cards; autographs of
famous sports, Hollywood and historical persons; rare coins and stamps," said
Michael Haynes, Chief Executive Officer of Collectors Universe. "Sellers find
they get more money for their collectibles if they are authenticated. QuikDrop
eBay drop-off stores provide an easy way for anyone to list their items on eBay
simply and conveniently, and now we can submit their collectibles to Collectors
Universe for expert opinions on their authenticity and state of preservation,"
explained Murray Mead, Chief Executive Officer of QuikDrop International.
The PSA/DNA division of Collectors Universe has certified the authenticity of
all footballs used in the past four Super Bowl games, as well as Mark McGwire's
70th home run baseball, Barry Bonds's 600th career homerun ball and Hank
Aaron's historic 715th homerun bat and ball. Experts in the company's
Professional Coin Grading Service division recently authenticated a $2 million
rare coin kept by its unsuspecting owners in a closet for 41 years. "With all
the money being spent by collectors, it is imperative that they are informed
about the dangers of forgeries in the marketplace and they insist on third-party
credibility and authentication. Our arrangement with QuikDrop conveniently lets
sellers take proper precautions and permits collectors to participate in a safe
hobby environment and avoid the pitfalls," said Haynes.
Collectibles with a value of $50 or more can be dropped off at any QuikDrop
location where they are photographed, submitted to Collectors Universe for
authentication, when certified are placed on eBay. Once sold, QuikDrop handles
the payment and shipping details with the winning bidder. The customer receives
a check in the mail for the full amount of the sale, less the authentication fee
and a commission to QuikDrop.
Source: Collectors Universe, Inc.
Date: May 17, 2004
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