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How does CGC determine Fair Market Value for comics? How should I?

Started by Dr. Cheesesteak,

28 posts in this topic

Dr. Cheesesteak

Dr. Cheesesteak

Posted
Posted

So I'm just trying to figure out how to send my 1st ever batch of comics in to get graded and I see that the CGC charges you based on what the comics may be worth?

 

"****

In the event that CGC, at its sole discretion, determines that the fair market value is higher than the value stated by the submitter, CGC will move the comic book to the appropriate higher tier and the additional charge will be the responsibility of the submitter."

 

I have a good handful of borderline $200~$300 comics (that I've seen in other publications pricing guide). So how does CGC base their market valuation? If I send in a comic that is valued at $300 NM on a price guide, but is only on eBay for $80-$200, should I still send it as "Modern Service" ($200 individual comic value max)? And just hope CGC uses reasonable discretion? $17 jumping to $32 (or even $54) is a big difference that can be seen if just 5~10 comics get upgraded to Economy Service (or Standard Service).

 

And I suppose I should ask, how should I know what my comics are worth? eBay? Wizard's guide is so much smaller now, but I know there are other full-scale big thick price guides out there, right? And there are online price guides. What if some of these conflict?

 

Thanks

 

edit: so yeah, Wizard's price guide shows a comic I have valued at $300 (at 9.8 i think). comicspriceguide.com has the same one valued at $74. eBay has multiple ones ranging from $80-200. so...what's its FAIR market value?

 

 

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etanick

etanick

Posted
Posted

FMV = GPA

 

www.gpanalysis.com

 

the best thing to do is pick up the phone and call them in the morning to make sure you submit the books at the appropriate tier...if you use the wrong tier, they will charge you the right tier regardless so you can't submit a $1000 book using a value tier...I think.

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mschmidt

mschmidt

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Posted
I know a lot of people hate on comicspriceguide.com but I use them for a ballpark. Haven't had any problems yet.

 

+1

 

Also comicbookrealm.com

 

Both of those sites are absolutely useless when it comes to figuring out FMV for slabbed books - comicspriceguide is the better of the two (comicbookrealm's market prices are downright ridiculous), but you're still talking about a level of accuracy that's akin to asking your next-door, non-comic-book-collecting neighbor what he feels the value of your CGC 9.8 book should be.

 

For slabbed books, GPA and comiclink's completed sales are the only ways to go - even if there isn't a recent sale of a book in your specific target grade, GPA's vast database usually allows you to approximate the value based on similar books in similar grades. It's not like CGC is asking you for a number that's accurate down to the single dollar - they're asking you for an estimate based on the market data that's already out there.

 

The most important point to remember here, though, is that CGC is flexible within reason when it comes to these values - submitting a $240 book under the Modern tier will never get you bumped to Economy; submitting a 9.8 copy of Walking Dead #1 might.

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Bomber-Bob

Bomber-Bob

Posted
Posted

Agreeing with everything mentioned above about research tools I would like to point out that your books will be insured by CGC for the value you assign. This insured value is also used to calculate return shipping charges.

I know what you mean about borderline books and the associated difficulty of trying to decide which tier. As Michael(mschmidt) pointed out CGC is flexible, this doesn't have to be an exact science. Just use common sense and be fair. If it's probably a 500.00 book don't try and sneak it into Economy.

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DiceX

DiceX

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Posted

I recommend using Overstreet values for several submissions. GPA values are only valid if you get that grade, and I assure you, you'll be shocked at your grades for a while.

 

The only thing the FMV is used for is to insure your books at CGC and when they're shipped back. You can lowball the prices as long as you're comfortable with the amount of insurance you have on them. If you lowball them too much, CGC will call and adjust the value after your book is graded. Believe me, you'll not mind that phone call too much. :)

 

Just value them as how much insurance you want to have and you'll be fine. (thumbs u

 

 

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dicjones

dicjones

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Posted
I know a lot of people hate on comicspriceguide.com but I use them for a ballpark. Haven't had any problems yet.

 

+1

 

Also comicbookrealm.com

 

Both of those sites are absolutely useless when it comes to figuring out FMV for slabbed books - comicspriceguide is the better of the two (comicbookrealm's market prices are downright ridiculous), but you're still talking about a level of accuracy that's akin to asking your next-door, non-comic-book-collecting neighbor what he feels the value of your CGC 9.8 book should be.

 

For slabbed books, GPA and comiclink's completed sales are the only ways to go - even if there isn't a recent sale of a book in your specific target grade, GPA's vast database usually allows you to approximate the value based on similar books in similar grades. It's not like CGC is asking you for a number that's accurate down to the single dollar - they're asking you for an estimate based on the market data that's already out there.

 

The most important point to remember here, though, is that CGC is flexible within reason when it comes to these values - submitting a $240 book under the Modern tier will never get you bumped to Economy; submitting a 9.8 copy of Walking Dead #1 might.

 

I agree with what you are saying, however, since CGC IS FLEXIBLE, that is why I feel comicspriceguide is good enough in most cases. Also, I know everybody here loves GPA, for good reason, but I'm not about to drop 10.00 a month on a subscription when other services in pricing comics is out there and are available for a fraction of the cost.

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Boozad

Boozad

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Posted
but I'm not about to drop 10.00 a month on a subscription when other services in pricing comics is out there and are available for a fraction of the cost.

 

They may be a fraction of the cost but they are dreamt up prices. At least GPA documents reality.

 

When CGC ask for FMV, they are only asking for insurance purposes anyway.

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Bomber-Bob

Bomber-Bob

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Actually I never even thought to think if the FMV is based on slabbed or un-slabbed.

 

And this insurance, is it taken out from CGC? Or is it something extra I have to pay for?

 

CGC is paying for the insurance while it is onsite. You pay for the insurance on return shipping.

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Hibou

Hibou

Posted
Posted

Dice... I love that new sig!

 

Lynda Carter :cloud9:

 

See how easily one becomes sidetracked!

 

Anyways...

 

As a total Noob I simply opened my OSPG when declaring the FMV.

 

Yes, like I said "as a total Noob..."

 

BTW, sign up for GPAnalysis!

 

It's so worth the $10.

 

I almost paid waaay too much for a book today on eBay before consulting that site!

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Hero Restoration

Hero Restoration

Posted
Posted
but I'm not about to drop 10.00 a month on a subscription when other services in pricing comics is out there and are available for a fraction of the cost.

 

They may be a fraction of the cost but they are dreamt up prices. At least GPA documents reality.

 

When CGC ask for FMV, they are only asking for insurance purposes anyway.

 

So then the price for each tier includes return shipping and insurance or is it $17 for modern plus return shipping and insurance?

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VintageComics

VintageComics

Posted
Posted
-

When CGC ask for FMV, they are only asking for insurance purposes anyway.

 

One exception: not on Walk-Throughs, they charge you 2.5% of FMV or $1,500, whichever is less. This is the kinda stuff that leads to conflicts of interest, of course.

 

Except they are fairly conservative on their charges. A lot of times they could have bumped me to the next tier on a grade but didn't. I think the perception of their price structure and what actually happens are two different things.

 

(thumbs u

 

By the way, read some of your CBM letters Stu. I feel I know you a little better now.

 

:foryou:

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