Manufactured Gold

[MasterChief]

Here’s another example were the attempt to enhance monetary value apparently miscarried as the results turned out to be rather displeasing. Perhaps an overzealous

Restorer

Conservator

Manipulator

Buffoon

coupled with financial lust was the principal factor here, don’t know, but in my opinion, the copy was better off left alone.

 

By the way, just a note of interest. This particular book was found to run in a serial number sequence which included:

• [*]eight upgrades as an apparent result of various treatment procedures (four of which were pedigree copies),

[*]one other restoration removal case,

[*]and a Qualified to Universal label conversion achieved by dissembling a double cover copy and switching the covers; this particular copy’s certification predates that of the double-cover Sensation Comics #35 by 12 months.

***************

 

Space Thrillers #nn

 

First purchased in the summer 2002, this copy of Space Thrillers was listed as a certified Apparent Very Fine- (7.5) with slight amateur restoration. Advertised as being “scarce” according to Overstreet, the description went on to note the restoration as being “a piece has been re-attached to the cover”. The copy sold for $460.

 

Thirteen-months later the book re-auctioned; however, it was encapsulated with a Universal label and graded as Very/Good Fine (5.0). The auction description again mentioned its scarcity in addition to a new label text notation of “small piece of tape on interior cover”. It went for $178 and realized a 61% loss from its original take.

 

The new Universal version of Space Thrillers #nn (0064423015) was graded on January 29, 2003; and as of October 10, 2006, only two copies of Space Thrillers #nn have received certification by CGC, one Universal (this copy) and one Restored (4.0).

 

It is in my opinion that this copy was targeted for upgrade. In addition to the restoration removal work that failed, the copy appears to have been lightly cleaned and perhaps pressed, especially when viewed from the rear. Although the rear cover appears washed-out, I don’t believe this to be a total result of “photoshoping” or “scan manipulation” as the blue label appears natural. That said, I could be wrong. One final note: I would venture a guess and say the book was certified and sold in an effort to recoup some percentage of its initial cost.

 

Certification/Resale Provenance:

 

 

Resource Links:

 

Space Thrillers #nn (7.5)

Space Thrillers #nn (5.0)

Serial Number Sequence

 

Images:

 

 

 

 

Serial Number Sequence:

 

[Filter81]

Very interesting. Just out of curiosity, which book was the one that went from qualified to universal and which one was the other book that went from restored to universal?

 

Was it the All Flash and the 'Tec 197?

[Comicdey]

so who's called on the notes for the books that are missing from your sequential list?

[MasterChief]

Very interesting. Just out of curiosity, which book was the one that went from qualified to universal and which one was the other book that went from restored to universal?

 

Was it the All Flash and the 'Tec 197?

 

That is correct...on both accounts.

[FFB]

Perhaps an overzealous <select name="select one" size="1" style="vertical-align:middle">

<option value="Restorer">Restorer</option>

<option value="Conservator">Conservator</option>

<option value="Manipulator">Manipulator</option>

<option value="Buffoon">Buffoon</option>

</select>coupled with financial lust was the principal factor here, don’t know, but in my opinion, the copy was better off left alone.

 

[sckao]

10 comics - original purchase price $4042.25 that sold for $5,980.00, a gross profit of $1937.75

 

So let's say each comic costs a certain amount to "work on".. let's say $100. So we're left with $937.75 in profit for 10 comics or roughly $100 per comic.

 

Does the initial purchase price include a buyer's premium or shipping both from the initial purchase and shipping to the restorer (and back)? We're also not factoring in the cost of slabbing which I assume is at least $40-50 per comic (depending on the service).

 

Doesn't seem worth it from the current figures/examples... From the current chart, it's near break even at best... a money losing proposition overall if something goes wrong.

[FFB]

10 comics - original purchase price $4042.25 that sold for $5,980.00, a gross profit of $1937.75

 

So let's say each comic costs a certain amount to "work on".. let's say $100. So we're left with $937.75 in profit for 10 comics or roughly $100 per comic.

 

Does the initial purchase price include a buyer's premium or shipping both from the initial purchase and shipping to the restorer (and back)? We're also not factoring in the cost of slabbing which I assume is at least $40-50 per comic (depending on the service).

 

Doesn't seem worth it from the current figures/examples... From the current chart, it's near break even at best... a money losing proposition overall if something goes wrong.

 

If the seller is doing the work himself (which seems likely, given his penchant for using tape and the absolute mess he made of the piece he reattached with tape), that would cut some of the cost out. But when you factor in the seller's commission and buyer's premium (both of which go to Heritage and amount to a little over 26% of the realized price) involved in reselling through Heritage, man, that's a lot of work for not a lot of money -- maybe even a loss on those books at the end of the day. Unless . . . well, I'll leave that for the conspiracy theorists.

[FFB]

One other interesting point is that all of these resubs went into old label slabs. So much for old label slabs being safer!

[namisgr]

One other interesting point is that all of these resubs went into old label slabs. So much for old label slabs being safer!

 

I understand that what you really meant to say, Scott, is "So much for old label slabs being safe!". This is certainly just one of many examples of books having been worked on prior to the switch in label design. With that being said, as the proportion of books in old labels continues to shrink going forward (because all books being certified now get new labels), and with new acolytes of the crack/press/resub game coming on board to maximize many a books' potential, the old label will become a safer and safer counterpart to the new label, despite never being completely safe in the absence of seller disclosure.

[namisgr]

Since we're discussing again the financial end of manufactured gold, here is the current status of the money spent and re-couped by the individual who played crack/press/resub with a bunch of Spideys from my former collection. Listed are the book, CGC serial number, current bid, and the price paid to buy the book from me via Highgrade Comics:

 

Annual 3 (Western PA) 0788353015 bid: 1350 purchase: 825

ASM 5 0788773002 bid: 1800 purchase: 2125

ASM 21 0788353002 bid: none; list: 2481; purchase: 935

ASM 46 0788353003 bid: 500 purchase: 235

ASM 68 0788353010 bid: none; list: 856; purchase: 320

ASM 72 0788353011 bid: none; list: 650; purchase 180

ASM 73 0788353012 SOLD: 1410; purchase: 530

ASM 86 0788353013 SOLD: 112; purchase 90

 

Note that all of the books with the exception of the 5 received upgrades upon resubmission. There are an additional 9 books purchased by this individual that I have not found yet in the marketplace, but which account for serial numbers in between the issues listed above, and so were obviously also resubmitted.

 

Note also that this particular game has yet to turn a profit, but is likely to turn a tidy one, once all the books (which have been on the market in their new holders less than a month) are sold.

 

Finally, it is noteworthy that the books listed above are spread between two different consignment sites, Comiclink (mostly) and Pedigree.

[goldust40]

You're certain it was the same guy who bought all of those books? What was the original grade of the ASM 73?

[namisgr]

You're certain it was the same guy who bought all of those books? What was the original grade of the ASM 73?

 

100% positive that the same guy bought all of these books, because of the way (time payment, now paid in full to Bob and me both) these books were purchased. The ASM 73 (Mass copy) was an old label 9.6 that upgraded to a 9.8 (highest certified copy).

[Red Hook]

I thought it was time for a bump to the 2006 Thread of the Year. Worth the read. Take your time.

 

Red

[djpinkpanther67]

Great Thread!!! Kind of sobering when you think about it...I'm learning more & more everyday! This makes me even more wary about buying nowadays. Especially if these resubs were artificially enhanced for an upgrade & not disclosed...

[MutantKeys]

I feel better and better the way my tax money is being spent

[djpinkpanther67]

I feel better and better the way my tax money is being spent

At least you're GETTING a refund !!!

[Davenport]

Not sure if this one has been posted before, but it shows as "New" listing on ComicLink. X-Men #1 CGC 6.5 Asking Price: $4,425

 

Mid-grades are interesting examples, to me anyway, because clean/press doesn't seem to do much visually for corner creasing and spine wear. Seems like having fresh-off-the-press flatness can significantly impact "grade"... even after a book's appearance shows it's obviously been read and enjoyed.

 

=======================

 

X-Men #1 (Marvel, 1963) CGC FN- 5.5 Sold for: $1,380.00 Oct 13, 2005

 

About six months later, for a $920 gain.

X-Men #1 (Marvel, 1963) CGC FN+ 6.5 Sold for: $2,300.00 Apr 23, 2006

 

 

 

Here's a different ComicLInk CGC 5.5 listing for visual comparison with the "6.5".

[Flaming_Telepath]

 

Nice catch!

 

And that other 5.5 is a far better looking book...but obviously not pancaked, so by far a 'worse' book.

[rjpb]

The bottom of the CL copy is cropped in the scan, but otherwise it does look nicer. The "6.5" is overgraded for sure - if you tried to sell that copy raw as a F+, you're grading would be suspect.

[MutantKeys]

 

Here's a different ComicLInk CGC 5.5 listing for visual comparison with the "6.5".

How the Juststopit.DoyouWANTastrike? is that a 6.5