Define unreliable. Grading is a subjective process so it inherently has variability and it’s something that can never be 100% consistent.
To understand the value of grading, all you have to do is look at the other “options”. There are examples everywhere, from things like this www.elitefourum.com/t/scammer-alert-goldstarlugia-do-stick-to-g-s/34393/1 or how Troll and Toad “near mint” is basically a meme. Grading will never be perfect and there will still be problems like this but the reality is, there are WAY less of them. For any criticism that PSA/CGC/BGS/PFM/ABC/LMNOP grading get, they generally get it right or at least aren’t far off. It also sets a standard for what people look for in condition and a language that allows a basis of comparison between experts (ie. us). For instance, “PSA 8” is a much more precise way to describe a card than “near mint”.
Where it loses me is when the premium for a certain grade far exceeds the level of consistency a grading company can offer. For instance, when a PSA 10 loses 95%+ of it’s value when you remove the plastic and the label, that’s just something I would never want. Don’t even get me started on black labels.
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