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

[wee_s2e-migration]

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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.

 

 

, thanks. I wrote a few, but I don't remember what they were all about. IIRC, someone thought the Wood/Ditko book "Heroes Inc" # 1 was hard to find?

[seanfingh]

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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.

 

 

, thanks. I wrote a few, but I don't remember what they were all about. IIRC, someone thought the Wood/Ditko book "Heroes Inc" # 1 was hard to find?

 

You mean it isn't? I thought my shortbox of them was going to fund my retirement.

[supertones75]

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.

 

CGC noob checking in here...and wrestling through what to put in FMV. As I understand it, you set one FMV that has to cover both the shipment to CGC and back from CGC. But on the way there, say, my 10 comics are only worth $5 each un-slabbed, even in NM condition ($50 total insurance would cover their current state) After they are all graded and slabbed 9.8 (did I mention I am a noob?) lets say they are now worth $100 each - need $1000 insurance now. So do you set the FMV at $100 each during invoice submission so you have better coverage on the return trip? And if you do use the higher FWV amount, does the shipping cost increase dramatically, or not (dollars or cents per book)?

 

I am leaning toward the higher amount because even on the first leg of the trip you are protecting what you believe to be a slab-worthy book. Damage to the raw book would put you out the possible value increase from the high grade slab, eh?

 

Thanks in advance for your experienced help!

[Lethal_Collector]

I just look at the purchase history for a book on ebay if I need to estimate FMV. Otherwise, it's just for insurance purposes so you could say a book is worth $1 if you are looking to sub book as cheap as possible.

 

 

Jerome

[Bomber-Bob]

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.

 

CGC noob checking in here...and wrestling through what to put in FMV. As I understand it, you set one FMV that has to cover both the shipment to CGC and back from CGC. But on the way there, say, my 10 comics are only worth $5 each un-slabbed, even in NM condition ($50 total insurance would cover their current state) After they are all graded and slabbed 9.8 (did I mention I am a noob?) lets say they are now worth $100 each - need $1000 insurance now. So do you set the FMV at $100 each during invoice submission so you have better coverage on the return trip? And if you do use the higher FWV amount, does the shipping cost increase dramatically, or not (dollars or cents per book)?

 

I am leaning toward the higher amount because even on the first leg of the trip you are protecting what you believe to be a slab-worthy book. Damage to the raw book would put you out the possible value increase from the high grade slab, eh?

 

Thanks in advance for your experienced help!

 

The FMV you put on the CGC forms means nothing for the shipment to CGC. You buy insurance for the shipment to CGC. The FMV on the forms is used by CGC to calculate return shipping.

[supertones75]

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.

 

CGC noob checking in here...and wrestling through what to put in FMV. As I understand it, you set one FMV that has to cover both the shipment to CGC and back from CGC. But on the way there, say, my 10 comics are only worth $5 each un-slabbed, even in NM condition ($50 total insurance would cover their current state) After they are all graded and slabbed 9.8 (did I mention I am a noob?) lets say they are now worth $100 each - need $1000 insurance now. So do you set the FMV at $100 each during invoice submission so you have better coverage on the return trip? And if you do use the higher FWV amount, does the shipping cost increase dramatically, or not (dollars or cents per book)?

 

I am leaning toward the higher amount because even on the first leg of the trip you are protecting what you believe to be a slab-worthy book. Damage to the raw book would put you out the possible value increase from the high grade slab, eh?

 

Thanks in advance for your experienced help!

 

The FMV you put on the CGC forms means nothing for the shipment to CGC. You buy insurance for the shipment to CGC. The FMV on the forms is used by CGC to calculate return shipping.

 

Ahh, that makes a lot more sense. I wasn't thinking about the shipment to CGC properly. Thanks for clearing that up.

[fiendish]

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.

 

CGC noob checking in here...and wrestling through what to put in FMV. As I understand it, you set one FMV that has to cover both the shipment to CGC and back from CGC. But on the way there, say, my 10 comics are only worth $5 each un-slabbed, even in NM condition ($50 total insurance would cover their current state) After they are all graded and slabbed 9.8 (did I mention I am a noob?) lets say they are now worth $100 each - need $1000 insurance now. So do you set the FMV at $100 each during invoice submission so you have better coverage on the return trip? And if you do use the higher FWV amount, does the shipping cost increase dramatically, or not (dollars or cents per book)?

 

I am leaning toward the higher amount because even on the first leg of the trip you are protecting what you believe to be a slab-worthy book. Damage to the raw book would put you out the possible value increase from the high grade slab, eh?

 

Thanks in advance for your experienced help!

 

The FMV you put on the CGC forms means nothing for the shipment to CGC. You buy insurance for the shipment to CGC. The FMV on the forms is used by CGC to calculate return shipping.

 

Ahh, that makes a lot more sense. I wasn't thinking about the shipment to CGC properly. Thanks for clearing that up.

 

+1 thanks, as that was confusing for me as well.

 

So, to sum up, FMV should be based on what you estimate the book would for (based on trailing sales data like eBay or GPA, slabbed, in the grade range you anticipate?

[Bomber-Bob]

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.

 

CGC noob checking in here...and wrestling through what to put in FMV. As I understand it, you set one FMV that has to cover both the shipment to CGC and back from CGC. But on the way there, say, my 10 comics are only worth $5 each un-slabbed, even in NM condition ($50 total insurance would cover their current state) After they are all graded and slabbed 9.8 (did I mention I am a noob?) lets say they are now worth $100 each - need $1000 insurance now. So do you set the FMV at $100 each during invoice submission so you have better coverage on the return trip? And if you do use the higher FWV amount, does the shipping cost increase dramatically, or not (dollars or cents per book)?

 

I am leaning toward the higher amount because even on the first leg of the trip you are protecting what you believe to be a slab-worthy book. Damage to the raw book would put you out the possible value increase from the high grade slab, eh?

 

Thanks in advance for your experienced help!

 

The FMV you put on the CGC forms means nothing for the shipment to CGC. You buy insurance for the shipment to CGC. The FMV on the forms is used by CGC to calculate return shipping.

 

Ahh, that makes a lot more sense. I wasn't thinking about the shipment to CGC properly. Thanks for clearing that up.

 

+1 thanks, as that was confusing for me as well.

 

So, to sum up, FMV should be based on what you estimate the book would for (based on trailing sales data like eBay or GPA, slabbed, in the grade range you anticipate?

 

Yes, you are correct. My advice is to be conservative on the 'guess' of the anticipated grade. It doesn't feel good to be overpaying on return shipping insurance if the book doesn't grade out.