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Beckett Grading Services (BGS), once a dominant force in the sports card grading industry, is experiencing a sharp downturn in its fortunes. According to the November GemRate report, BGS graded just 32,000 cards—a staggering 32% decline from October and a 43% year-over-year drop. The trend marks an alarming acceleration of its decline, as BGS was down only 13% year-over-year as recently as August.
This sharp fall coincides with the recent legal troubles of Greg Lindberg, the founder and owner of the conglomerate that owns Beckett. Lindberg’s guilty plea to orchestrating a $2 billion insurance fraud scheme has cast a shadow over Beckett’s future and compounded its ongoing struggles.
Greg Lindberg’s guilty plea revealed alarming financial mismanagement within Beckett’s ownership structure. According to court documents, Lindberg secured a $100 million loan against Beckett Grading Services, yet the company reportedly received just $500,000 of that amount. This revelation has raised serious concerns about the stability of Beckett and the possibility of liquidation of Lindberg’s holdings under his Global Growth conglomerate.
These developments have added uncertainty to an already struggling brand, eroding trust among collectors and further jeopardizing Beckett’s standing in the competitive grading market.
Beckett’s challenges are magnified by its performance relative to its competitors. Despite an upward trend in the sports card grading industry, BGS remains the only major grading company experiencing a decline in activity. The other members of the “Big Four” are all seeing growth:
Beckett now ranks fourth among major grading companies, trailing even CGC in the sports card category. CGC, traditionally stronger in TCG (Trading Card Games) and non-sport grading, has surpassed Beckett in sports card grading—a significant shift considering that 60% of Beckett’s November business came from sports cards. By contrast, sports cards accounted for only 13.1% of CGC’s output, yet it still outpaced Beckett by 12,000 cards in this category.
One of Beckett’s enduring strengths has been its Black Label 10s and Pristine 10s, which command a premium in the marketplace, particularly for high-quality TCG cards like Japanese Pokémon and One Piece. This focus on elite grading has helped Beckett maintain relevance in niche markets, even as it loses ground in high-volume categories.
However, the November GemRate report indicates that this niche strategy is faltering. Increased promotional activity from competitors, combined with Beckett’s historically firm pricing, has dampened demand. While Beckett offered a rare Thanksgiving holiday special, it remains unclear whether such measures can reverse the overall decline.
Another troubling trend for Beckett is the decline in its grading of "iconic" cards. Once a leader in encapsulating legendary pieces like the 1952 Mickey Mantle or the 1989 Upper Deck Ken Griffey Jr., Beckett is now losing momentum in this area. GemRate’s Iconic Tracker—designed to measure grading activity for historically significant cards—paints a less favorable picture for Beckett in recent months. This decline further highlights the company’s struggles to maintain its foothold in high-value, flagship grading.
Despite the challenges, Beckett remains competitive in a few specialized areas:
The road ahead for Beckett Grading Services is uncertain. The fallout from Greg Lindberg’s legal troubles, combined with increasing competition from PSA, SGC, and CGC, leaves Beckett in a precarious position. While its reputation for premium grades still carries weight in niche markets, the overall decline in grading volume—especially during a boom period for the industry—signals deeper issues.
Collectors will be watching closely to see if Beckett can stabilize its operations and regain its standing in the grading market. For now, the once-dominant brand finds itself playing catch-up in a rapidly evolving industry.
