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It's complicated.
Restoring a book may give it better visual appeal, and a grading company may give it a higher grade, but it would be a Restored Grade. Not a Universal Grade.
A great many collectors shy away from restored books., so you lose a good bit of the potential market for the book. In some cases, a very ragged key book may be restored to a mid grade, but it is very expensive and often times you are left with a book worth less than you have in it.
If by reconditioning, you are referring to have the book pressed and a little cleaning done, that often increases the books grade and value, but many defects are not removable by pressing. Many collectors oppose pressing, at least publicly.
