1. United States
2. Wisc.
3. Letter

I am writing to express strong support for Congressman Pat Ryan's request that the Federal Trade Commission investigate Collectors Holdings for monopolistic practices in the trading card grading industry. This investigation is essential to protect collectors, local card stores, and the integrity of a hobby that millions of Americans enjoy. Collectors Holdings has systematically consolidated over 80% of the trading card grading market through aggressive acquisitions. The company purchased PSA in 2021, SGC in February 2024, and announced the acquisition of Beckett in December 2025. This leaves only one significant independent competitor in an industry that once had multiple options for consumers. This level of market concentration raises serious antitrust concerns that warrant immediate FTC scrutiny. Beyond horizontal consolidation, Collectors has achieved troubling vertical integration. The company controls grading capacity, owns the CardLadder pricing analytics platform, and directly participates in buying and selling graded cards. This creates obvious conflicts of interest where a single entity controls the grading process, determines market prices through its data platform, and profits from trading the same cards it grades. This structure creates opportunities for market manipulation and self-dealing that harm ordinary collectors. Congressman Ryan's letter identifies eight specific areas requiring investigation, including whether Collectors deliberately acquired competitors to eliminate competition, whether the company evaded merger scrutiny through pass-through entities, and what safeguards exist to prevent coordination of pricing and grading standards across its three supposedly independent brands. These questions address fundamental concerns about fair competition and consumer protection. The impact extends beyond pricing to service quality, turnaround times, and barriers preventing new competitors from entering the market. Collectors' control over the limited labor pool of professional graders makes it nearly impossible for new companies to challenge this dominance. I urge you to support Congressman Ryan's request and advocate for a thorough FTC investigation into Collectors Holdings. Market concentration of this magnitude threatens competition, harms consumers, and undermines the accessibility of a hobby that should remain open to everyone from kids starting collections to established dealers.