GameStop, a video game, consumer electronics and collectibles retailer, with over 3,000 locations in North America and over 5,700 world wide, is getting into the card buying business.
The company has announced it will begin a trade-in program that allows customers to bring in PSA graded sports and gaming cards to their local shop in return for store credit or cash. All cards must be graded at least 8 with a value no higher than $500.
All cards offered to stores must have the LightHouse version of PSA’s label. Store employees will be responsible for evaluating the authenticity of the slabs, which a checklist of things to look for before accepting any trade. The prices offered by GameStop are non-negotiable.
The program is launching in Connecticut, Georgia, Kentucky, Mississippi, New York, Tennessee and Texas to start, but is expected to expand soon.
GameStop has traditionally offered trade-ins for video games and accessories, gaming devices and smartphones but the growth of the collectibles market has caused the company to expand its offerings. GameStop currently sells some sports card boxes and other collectibles including Funko figures, statues and other items but hasn’t really been on the radar of sports collectors.
The value given back to customers who trade in cards will be based on a set price that can vary from day to day, based on current values. Exactly how those values are determined seems to still be a work in progress, according to several stores we spoke with on Tuesday, most of whom were just getting word of the program and had yet to see any cards brought in to their shops.
They say the trade or cash value offered will be determined by a guide that will be made available to store owners.
“It’s a new rollout and so there are some bugs to be worked out,” a store rep in Texas told us.
One store told us that customers who opt for a store credit will receive 40% more for their cards than those who opt to take a gift card that can be used anywhere. As of now, GameStop isn’t offering any kind of online guide that collectors can access ahead of time to determine what kind of trade-in value they’d receive on their cards. Customers will have to bring them to the store. At least for now, it appears that stores are accepting most PSA graded cards rated between 8 and 10.
According to one store we spoke with Tuesday, cards purchased by GameStop will be sent to the company’s distribution center and eventually placed for sale online.
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