Noivern ex #153

Negative expected value ($-3.32) — while a PSA 10 would be profitable, the probability-weighted outcome across all grades means you lose money on average at this grading tier. Low grading population — gem rates based on only 82 graded cards may be unreliable, and the market for this card in graded form may be illiquid. The gem rate is only 22% — you'll need a very clean copy to hit PSA 10. PSA 10 profit of $8.19 is thin — grading fees and selling costs eat most of the margin.