Posted in: Collectibles, Comics, Current News | Tagged: CGA, diamond

Andrew Aiello, Tom Derby & Ben Davis Buy CGA After Diamond Bankruptcy

Andrew Aiello, Tom Derby and Ben Davis buy the Collectible Grading Authority (CGA) from Ad Populum, in the wake of the Diamond bankruptcy

Published Tue, 01 Jul 2025 11:58:03 -0500

by Rich Johnston

Last updated Tue, 01 Jul 2025 15:45:52 -0500

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Article Summary

Andrew Aiello, Tom Derby, and Ben Davis acquire Collectible Grading Authority after Diamond's bankruptcy saga
Skyrush Marketing initially named highest bidder for CGA, but ownership transferred to new group post-auction
New ownership pledges to preserve CGA's staff, grading standards, and expand services for collectors
Diamond Comic Distributors' bankruptcy triggers major company asset sales, lawsuits, and industry shakeups

During the Chapter 11 Bankruptcy, Skyrush Marketing of New York City and Long Island posted a press release saying that they had been selected as the highest bidder for Collectable Grading Authority (CGA), the Diamond-owned collectables grading business in the Chapter 11 bankruptcy auction for Diamond Comic Distributors. CGA offers authentication and grading services for collectable toys, action figures, and video games, in a similar way that CGC does for comic books. With Dave Thomas, COO of Skyrush Marketing, saying, "We have avid collectors on staff who understand both the historical significance and future potential of CGA. It's a company with an outstanding reputation. Collectors around the world trust it to grade and preserve their most valuable collectables. We have a deep, intimate knowledge of the business and the community it serves." Skyrush stated that they were "confident that under its leadership, the integrity of CGA and its respected staff could be preserved, while giving the brand the resources it needs to grow exponentially. However, despite being the highest bidder for Lot A, CGA was also bundled into a separate, all-encompassing lot covering the entirety of Diamond's assets. If CGA is awarded to another party, we hope they share a deep appreciation for the collector community and are committed to preserving the standards and trust CGA has built over the years. Regardless of the final outcome, Skyrush remains deeply committed to the collector community. The company will continue to pursue strategic ventures that support, protect, and grow the collecting hobby. Above all, Skyrush hopes for the very best for CGA and its dedicated team."

Skyrush claimed they had bid $1.65 million, but others were throwing around figures from fifty to eighty million for the whole kaboodle. And looking at the billable hours, a cost was filed for drafting a cease and desist letter to Skyrush. It seemed to work; the claim was no longer on the Skyrush website.

Today, the other shoe dropped as Andrew Aiello, owner of Skyrush, got in touch to tell me that he had bought CGA from Ad Populum/Sparkle Pop as part of a group after Ad Populum reached out to him. He intends to retain all CGA staff; they are staying in the Georgia area, and he intends to hire new staff and expand, saying, "The group is committed to strengthening operations, improving service, and gradually expanding offerings, with trust, integrity, and consistency as top priorities."

Andrew Aiello, Tom Derby & Ben Davis Buy CGA After Diamond Bankruptcy — CGA logos

CGA, the parent company of Action Figure Authority (AFA) and Video Game Authority (VGA), has now sent out a note about their business now being stabilised and that "the new ownership group includes a team of experienced investors and passionate supporters of the hobby, including Andrew Aiello, founder of Inc. 5000 digital agency Skyrush Marketing, Tom Derby of Collectible Investment Brokerage (CIB), a trusted figure in the collectibles industry, Ben Davis, a successful investor and dedicated collector, along with additional seasoned investors who bring strong business acumen and long-term commitment to CGA's success. Together, this group brings a powerful blend of strategic leadership, industry insight, and deep respect for CGA's long-standing role in the hobby." And they make the following key commitments;

Preserving CGA's expert, consistent grading standards and leadership team
Supporting and carefully growing the staff in its Georgia-based facility
Re-engaging the collector community with renewed transparency and responsiveness
Rolling out new services and improvements over time, with announcements to follow

"We understand the concern collectors have felt during the recent transition," said Andrew Aiello. "Our goal is to bring stability and innovation to CGA. We are proud to carry this legacy forward while continuing to serve collectors with the care and consistency they deserve." Well, I am glad to see that someone got what they wanted from the Diamond Chapter 11 bankruptcy…