The stigma of the purple label

[dupont2005]

A restored book should not have much more value than it's original cost + the restorer's fee, right?

 

By this reasoning, a newly restored house should sell for no more than the pre-restoration value + cost of restoration... which we know is generally not the case.

 

Don't forget, there is inherent risk that the resto goes awry, and often a long time delay to having the work completed. These are two reasons why there can be a premium.

If collectibles were valued like houses then Action #1 and Action #7 would be worth about the same. Also, just because someone spent a few grand on new interior paint and carpet does not mean he's increased his houses resale value. Money going in does not mean money comes back out, and when it does it's not always in proportion. I'm working on a car right now. Spent about ten grand so far on restoration. It's worth maybe three grand as it sits. It's just the way it is sometimes.