Ludkins UK Middleman Service Bankrupt?

[AULO_hOf]

they also made the account private, I wasn’t following them but I guess it open before (it wouldn’t make sense to have a business with a private account)

[teraz]

He could also just send an email to his customers himself if he has another story.

[kpod]

Good luck passing a google background check in the future with all this dirt. Sad thing too as Ludkins was one of the original middleman that would take Pokemon cards for submissions I believe

[smpratte]

Ludkins was the original!

[Squallinge]

Youve seen the PSA announcement right? PSA on Instagram: "Link in bio to PSA’s full statement."

You need to sue him. You might get some of your cards back from PSA but that will take a long time and youll have to oay for delivery.

Hes runninng off with your money

[Jons_pokestop]

https://www.psacard.com/communication

PSA have just sent out an official communication on this.

[jcincy101]

Who is him? Ludkins was always so confusing with who was doing what and all the name changes. Is that Barney guy the one behind all this?

[pfm]

LC UK - It is with great disappointment, PSA has decided...

Response from Ludkins

Click to view here

It is with great disappointment, PSA has decided to cease its relationship with Ludkins Collectables. We have prided ourselves on being able facilitate complex and cumbersome international grading for customers around the world. When Ludkins Collectables was first started, it was a path for collectors abroad to navigate the complicated waters of grading, insurance and import fees. Collecting and grading internationally has never been easier and we’re proud of the strides forward the hobby has taken to include the international community.

Ludkins Collectables has been transparent with PSA since the inception of the PSA and Ludkins Collectables relationship. The two entities worked together to achieve equitable and low-cost access to grading to customers around the globe. Through this partnership, we have taken direction and trusted PSA throughout the ever-changing collecting environment. To highlight a few:

• UK underwent Brexit which removed the UK from the European Union. Ludkins Collectables opened an office in France to allow for uninterrupted operations at our own expense.

• COVID-19 spread across the world causing a global pandemic. This forced a temporary shutdown and work stoppage at PSA and our offices. After several weeks, operations resumed at limited capacity essentially bottlenecking past production throughout the entire operation.

• Hobby enthusiasts around the world rekindled their passions with this newly discovered time at home with families. Nostalgia was revitalized worldwide, and collectors’ markets surged. The hobby had never been more alive. Demand was unprecedented. Ludkins Collectables expanded offices and hired more staff to meet the unparalleled passion. It was amazing to see how far collectors had come.

• PSA shifted from a public to a private entity. Throughout the diligence period, PSA continued to take new orders although it would have been impossible to maintain current service levels at existing capacity. PSA prioritized a successful transfer of ownership over the needs of the collector. Ludkins was one of few companies that maintained estimated turnaround times may not be accurate albeit PSA confirming time and time again that our contractual turnaround times would be met. PSA did not adhere to these obligations.

• Following the privatization, PSA, unannounced, decided to upcharge all customers based on market value at the time of grading. This was a bias and dishonest approach to increase revenue on cards that had been with the company long before the 2020 surge in demand. Ludkins Collectables fought the upcharges every step of the way. In many cases, the upcharges were reduced in favor of the customers.

Ludkins Collectables has tirelessly fought for our customers when PSA experienced immense change. PSA has had strong line of sight into the business throughout our relationship. When PSA decided to stop taking in new orders, PSA told Ludkins, in writing, new submissions would resume shortly. This grew to several months and then to over a year before Ludkins made the difficult decision to shrink operations. PSA was aware the current model was not sustainable. Time and time again, PSA communicated they had our back and the customers best interest at heart. PSA strung us along and decisions were made based on private, direct communication from PSA.

Eventually, PSA and Ludkins Collectables formed the partnership you’ve come to know as PSA UK. This was the amicable solution to moving forward, navigating the rough waters together and growing toward a new future. PSA provided ample intent for Ludkins Collectables to continue operations under the safeguard of a brighter future. It was a path for PSA and Ludkins to mutually provide the highest level of service possible to our customers.

PSA acknowledged our distressed financial situation and agreed to the lowest private dealer rate worldwide at $16/card in July 2022 after three months of waiting and negotiations. This was an interim path to allowing for continued operations at necessary capacities. Six days later PSA offered an $18/card special globally for all cards. This was a punch to gut after tirelessly working on a mutually agreed upon path forward. This suffocated our ability to operate and forced the creation of PSA UK.

The sole outlying issue was the cards were yet to be graded. PSA UK continued to operate and take in new submissions while under the branding of PSA UK. As time went on, PSA UK continued to hemorrhage money to maintain minimal levels of staff. All while operating under the impression PSA UK’s full book of business was being transitioned to PSA’s full ownership.

During this period, I sold off personal assets including my collection to keep the company afloat. Mind you, the deal with PSA UK did not include any cash payout for Ludkins Collectables. The entire company was offered to PSA in exchange for a full-time leadership role with PSA UK. I sacrificed everything Ludkins had achieved in hopes to continue providing trusted collectable services to those of us overseas. PSA waited until there was no other option to force this outcome.

The contractual grading turnaround times were not met and PSA has had full visibility into our financial health since the beginning of the pandemic. We agreed on a solution and PSA has decided to remove Ludkins Collectables from its plan after significant good faith discussions on our behalf. Prior to PSA’s announcement today, the full customer list was offered with line item details, so PSA may ship directly to each customer. This offer went unanswered.

I come to you, the community, as Barney Ludkins with my side of the story. I’ve given everything for this company and the collectables community as a whole. PSA strung me and many other dealers along until we had nothing and it was too late. My final request to PSA requested assistance with completing the return of outstanding customer cards. PSA declined.

Your fellow collector,

Barney Ludkins

[admiral]

I am shocked that this is all happening

… hehe

Got my form in

[bk2021]

PSA themselves are dodgy tbh.

[admiral]

@pfm

Response from Ludkins

My favourite part

[Cerulean]

Ludkins trying to shift blame to PSA kind of falls flat, to be honest. I’m not going to pretend that PSA is this spotless company that does everything right, but as a middleman service, you were paid up front by customers to send their cards to PSA for grading. Those funds should have been set aside to pay PSA. Period. The fact that that didn’t happen is inexcusable. Barney wouldn’t have had to sell off parts of his personal collection if he handled the funds appropriately to begin with.

I do have some sympathy, because you never want to see anyone going through anything like this, but this entire thing could have been avoided if Ludkins simply conducted business properly.

[teraz]

He said a whole lot of words without admitting he failed in basic accounting principles.

[smpratte]

From what I can surmise from the statement, leaving the doors open while not having orders process at the previous rate bled out money? Even then it says they were still accepting orders. The expenses are still vague.

[Squallinge]

Log into Facebook | Facebook if you want to see his excuse for all this read on. *caution bull alert

[nppokemon]

What a mess. Heart goes out to all collectors involved. If this gets ugly the cards be gone for even longer than expected. Wonder if anything can be claimed for lost profits as well? Cards that did come back were obviously MUCH older certs that the cards graded that same month. Many people lost out on money even those who got cards back.

All in all we just have to hope for the finger pointing to stop and for them to get it done. Any legal process can be dealt with after collectors are taken care of.

[marko]

@Jons_pokestop

https://www.psacard.com/communication

There is a link with a form you could fill out to help PSA return your cards. https://www.psacard.com/communication

Upload images of your cards if you have them, and provide and upload as much info asked. Go to your PayPal activity history and attached screenshots of payment to Ludkins. Also screenshot email archives as they confirm the receipt of payment and your cards being delivered to them.

I just filled out the form in hopes of getting my cards back! Hope this helps and everyone does the same!

[zubat]

I’m so confused. PSA Uk, Ludkins UK. Do neither exist anymore?

[xjustakiid]

That Barney guy has some nerve trying to gain sympathy over this. My cards were kept hostage and plummited in value all because he couldnt or didn’t want to pay PSA for those returns. Willingly choosing he’d rather be chased down by individual customers than a big company PSA.

First I will make sure to fill in that form today with as much information I can gather. After that I will go to the police and will look into sueing his trading company. What a clown, unbelievable

[failsafe94]

The only Barney I will ever trust in my life.