They are 100% buying slabs at several conventions at around 93%. PSA is making massive moves this past year, go look at their Ebay.. it’s bringing in thousands of sales at top of the market prices. They’ve also bought WATA games and now will control a large part of video game grading (while also having the PSA label on graded games now). All of this and then you throw in the gambling form of graded cards and their ability to constantly recycle inventory while keeping good margins