Beckett Grading’s Decline Deepens as Fraud Scandal Weighs Heavy

Beckett Grading Services (BGS), once a leader in the sports card grading industry, is grappling with significant challenges, reporting a 32% drop in card grading activity in November compared to the previous month, and a 43% decrease year-over-year. According to analytics platform GemRate, Beckett is the only major grading company experiencing a decline in what has otherwise been an expanding market. Competitors like PSA, SGC, and CGC are posting growth, leaving Beckett in fourth place among the top grading firms.

The downturn comes as the company’s owner, Greg Lindberg, recently pleaded guilty to a $2 billion insurance fraud scheme. Allegations surrounding Lindberg’s financial management, including a $100 million loan against Beckett that returned just $500,000 to the company, have cast doubt on its stability. Industry analysts suggest that Lindberg may be forced to liquidate assets, further impacting Beckett’s future.

Despite some success in niche markets like high-end trading card games (TCG) and specialized card grades such as Black Label 10s, Beckett’s presence in high-volume grading for sports cards has weakened. As competitors outpace Beckett with innovative services and aggressive promotions, the company faces an uphill battle to regain its former stature.