Any price consensus at all on the 'Monster-PLODS'

[The KeyMaker-migration]

 

We see these Monster-PLODS now and then on C-Link among other places. But the price-issue puzzles me:

By 'Monster-PLOD' I mean:

(i) a Mega Key Silver age book which is (ii) CGC 9.0 or better with (iii) resto, - but no more than *slight* restoration.

 

These are books that are (in the best cases) no more than one or two dots of CT away from potentially being a 50K or 100K (or more) book.

 

But the price issue doesnt seem to have settled on these 'Monster-PLODS' at all.

An example from C-Link:

An ASM #2 CGC 9.0 slight resto: just sold at C-Link for 2700$

A blue label ASM #2 CGC 9.0 sold on C-Link for 6400$

 

That means that this PLOD goes for around 40% of its blue label twin.

 

But now look at C-Links Monster-PLOD: AF 15 CGC 9.0 slight resto.

It goes for 15,000$ which is 10% of its blue label 9.0 twin flashed on the C-Link opening page. That sold for 146,000$ I think.

 

A leap from 10% to 40% is quite a stretch for these Monster-PLODS. The owners of the Monster-PLODS, - I wonder if they are worried over this. Or perhaps they just sit tight in no hurry to sell??

 

Well, just a thought. Comments on this anybody??

[Ze-man]

First of all welcome to the boards.

 

 

I think one part of your question needs to be defined more. If the Slight restored work on a book was Slight A, or Slight P

 

Because in most cases if the materials used to restore a book can be removed, it will sell for more then a book that has material on it that cannot be removed without damaging the book in the process(marker, the wrong type of glue/paint etc.)

 

In otherwords if you can get a Slight P 9.0 for a song, remove the resto, take the grade hit in the process you will probably have a book worth more on the market because it will no longer be in a loverly purple label. But that doesn't mean it will always stay that way. I think people are already starting to look for, and pay more for Slight P books because of the minimal amount of work needed to bring the book up to grade.

 

To me they are the deals of the decade, especially if the only work done was structural and not cosmetic. I will gladly pay a reduced price for a fantastic book with a tear seal, or centerfold reinforced any day of the week over paying 10X that amount for an unrestored copy. Mainly because I can't afford the latter so perhaps that has helped to shape my stance.

 

Regarding the Monster Plods in your post, I think people are worried about spending big dollars on a restored book(of any kind) and you see it reflected in recent prices. Even though the 2 copies of AF15 you posted are basically the same, except of course in price.

 

Good topic, sorry to jot my thoughts down in such a hurried fashion. I am off to dinner but read your post and found it interesting.

[BlowUpTheMoon]

Nice first post, KeyMaker (thumbs u

[The KeyMaker-migration]

Ze-Man and BlowUptheMoon!

 

Thanks for your welcome! Its appreciated. I am thrilled to finally be a part of the boards. I have followed the community for a while.

 

And yes, - its obvious that the difference between (A) and (P) PLODS must be taken into consideration. But Ze-Man is actually right that these Monster-PLODS *could* turn out to be the deal of the decade. Only time will tell. Its all about liquidity if one decides to pull the trigger on of these Monster-PLODS.

 

 

 

 

[The KeyMaker-migration]

Hey Guys!

 

Well to determine whether it is at all possible to determine an approximate discount on this category of books (i.e. 'Monster-PLODS) - compared to their blue label twins in the same or comparable grades - please post your relevant buys or transctions you have seen involving Monster-PLODS.

(cf. my example above with ASM#2 and AF #15).

 

What an exiting little popular science investigation this could turn out to be.

 

 

 

 

[bondguy-migration]

i'm a little embarrased to ask this but...what does PLOD stand for?

[skypinkblu]

i'm a little embarrased to ask this but...what does PLOD stand for?

Purple Label of Death

 

 

I'm quite happy that the restored books go much lower, it enables me to obtain decent looking copies of keys for much less than the market value of the non restored books, I get to own a piece of history, and I never think of having anything removed. I DO want to know what was done to it, but for most of them, they are going to stay in the plastic anyway, so I don't mind at all. I think of it as wonderful books on a budget.

 

[He11blazer]

i'm a little embarrased to ask this but...what does PLOD stand for?

 

Purple Label of Death

 

Hey Keymaker, I've got a nice example for you, although in this case is was slight TRIMMING which is of course all together more upsetting for most collectors!

 

Remember that recent comiclink auction where the ASM #50 9.8 sold for $32,500? In the very same auction I won the ASM #50 9.6 with slight amateur CT and trimming for $500.

 

Sold it a couple weeks later for £625 (about $1250) (thumbs u

 

It was a beautiful book. White pages. Better looking than the 9.8 in fact as it had good centering. The 9.8 was so miswrapped that the staples sat on the front cover.

 

Anyway, the point I would like to make is that the sale prices on these restored books seems to swing more wildly from sale to sale, precisely because of the uncertainty about their value. The pricing margin of error is that much wider.

 

[skypinkblu]

Two tear seals, saved me about 50 % of guide...and I was looking for one, for a while.

[chromium]

 

But now look at C-Links Monster-PLOD: AF 15 CGC 9.0 slight resto.

It goes for 15,000$ which is 10% of its blue label 9.0 twin flashed on the C-Link opening page. That sold for 146,000$ I think.

 

A leap from 10% to 40% is quite a stretch for these Monster-PLODS. The owners of the Monster-PLODS, - I wonder if they are worried over this. Or perhaps they just sit tight in no hurry to sell??

 

Well, just a thought. Comments on this anybody??

 

A board member won a 9.0 AF #15 Moderate (P) for $5500 on Heritage a few months ago which was 4-5% of the price of what a blue label goes for.

And I think he got the deal of the century

 

[towards2112]

If you collect, PLOD's can be a boon,

if you plan on flipping, then they are indeed the death.

As SKY stated, plods at a great price are a great addition

to a collection, I don't mind color touch or certain other

things, I don't touch trims or huge pieces replaced.

 

[JazzMan]

I'll buy a PLOD for my collection only. Unless it's a high grade key, it'll get cracked out and treated like, dare I say, a comic book.

[The KeyMaker-migration]

New Monster-PLOD is on ebay:

AF 15 CGC 9.6 slight (P).

 

Wholly cow !!

7 days to go and first bid in on 49.995$

I wonder if anybody out there is going to tango with this bidder?

We'll see ...

 

What could a blue-label twin (same grade) go for ?? Any opinions??

If the mentioned current bid wins this Monster-PLOD book then a blue label price for a 9.6 could be around 500K or probably much more. I dare not say. Go figure yourself if the 10%-40% discount applies for PLODS that we talked about earlier in this thread. Another boardmember talked about 50% discount.

 

 

 

[Green]

maybe you should research that seller a lil too might even be some info somewhere on these forums.

[The KeyMaker-migration]

Well, - it went for 50.300$$

 

[Sqeggs]

Well, - it went for 50.300$$

 

To my mind, there has been some serious craziness on early ASMs, particularly AF 15. Can you say "bubble"? There are a lot people who will have trouble getting their money out of these books. This one may be the capper, though.

[chromium]

So that's about 10% of the unrestored value

[osborn_fr]

I think a board member bought this book a few years ago for $15.000, no ?

If this is the same book, it was a great investment.

[homerwannabee]

I personally think restored copies are undervalued. But personally I hate restored copies. In fact I hate restored anything. I remember growing up and having a look of disgust on how people bragged about how there cars were totally restored. For me I would rather have an unrestored car. So that shows how much of a unrestored type of person I am. But even I have to admit the low prices for restored copies is a bit too much.

[The KeyMaker-migration]

Well Collectinator perhaps you're right about that it is cool to be an unrestored type of person. But remember when you polish your shoes, when you take medicin to get well after an illness, when your girlfriend put on lipstick: thats ALL *resto*, i.e. externally applied material with the intention to enhance or improve a given condition.