Restored GA Keys 0

[fishbone]

Restored GA Keys

Question that I haven't seen brought up in a while

Is there any sort of "formula", however crude, to guestimate pricing on restored GA keys? What would a 5.0 ext R Action 1 go for? As a percentage of unrestored ? How does that change for slight R, moderate R ? Same for other keys like Tec 27, Supes 1 and Bats 1?

or is this still too variable a thing to even put a formula to?

 

[Primetime]

Rough estimate that I do is take 1/3-1/2 of the FMV of an unrestored copy. Prices on plods seems to fall in that range most of the time pending level of resto, etc.  So if a 4.0 blue runs $1000, then a 4.0 plod would estimate at $300-$500. Maybe $200 if it was extensive (A) and sloppy work.  

Edited March 15, 2017 by Primetime

[fishbone]

Thanks bud.

I wouldn't have thought that high - is there a significant difference between slight and extensive? What about conserved, like just a cover cleaning and reinforcement - does the multiplier go to like 75% of unrestored ?

[Dark Knight]

I've also have had a difficult time determining fmv for restored and conserved books.  It's just how much restoration work was done and what specifically was done.  I think it's somewhat impossible to calculate an exact value.  Some people would take the original unrestored grade of the book pre-restoration and add the restoration work to determine fmv.  Others use the %'s like what Ben posted.  I feel that it is really up to the buyer and how much he/she wants to pay for that book.

[fishbone]

Totally agree it is so hard, as it is a combination of so few sales of restored  GA keys  over time and how to put a "formula" to it all.

Any other opinions, tricks, formulas that anyone knows of that is fairly accurate ? Anyone who has either bought or sold a lot of GA restored over the last several years and sees a trend?

Also, as unrestored keys go up  do you think restored keys go up by same factors ?

[Primetime]

yah Fish, as Brian says it's up to the buyer/bidder in the end. I remember Matt Nelson had a FMV chart on his old Classic Resto website and it broke down his estimates for slight, mod, and extensive. On paper, it would seem that any Professional resto would bring higher FMV than Amateur. I know for me glue and seals are the least amount of resto for me and I'd proabably pay more than for color touched/pieces add, trimmed copies...it all depends on the book too...

[rainmaker]

im not a resto guy and i hardly pay much attention to any resto auctions but from my view it seems the gap between blue and purple is widening.  

[Dark Knight]

I see that too because unrestored copies are having such huge exponential growth depending on the book. It doesn't mean that restored or conserved copies have not seen any growth in price because they have too compared to previous years but at a much slower pace.

[Gotham Kid]

But at one point GA keys will be so out of reach ( if they aren't already ) that their restored counterparts will become more and more appealing.

[twmjr1]

The entry level for a complete restored Tec 27 or Action 1 is now at least $200,000. If anyone disagrees, try finding one for less. I doubt you can. I have a Tec 27,  6.5 B-3 with a 1/8 inch right edge trim. Matt Nelson did the work on it. I'd hope that it would appraise for $300,000. Find one for less than that, complete? Buy it if you can afford to. And they are only going UP from here, same with Action 1.

Edited March 15, 2017 by twmjr1
incomplete info

[woowoo]

52 minutes ago, Gotham Kid said:

But at one point GA keys will be so out of reach ( if they aren't already ) that their restored counterparts will become more and more appealing.

[woowoo]

5 minutes ago, twmjr1 said:

The entry level for a complete restored Tec 27 or Action 1 is now at least $200,000. If anyone disagrees, try finding one for less. I doubt you can. I have a Tec 27,  6.5 B-3 with a 1/8 inch right edge trim. I'd hope that it would appraise for $300,000. Find one for less than that, complete? Buy it if you can afford to. And they are only going UP from here, same with Action 1.

SO TRUE. Entry level as in beat torn  folded grade don't matter just try and find one

[Dark Knight]

I remember about 10 years ago on ebay, there was a low graded but complete Tec 27 that sold for around $35k if I'm not mistaken.  I believe Metro was the high bidder on that book.  Wish I was able to snag it, but I was young and didn't have that much $

[fishbone]

great point Gotham about when all others seem out of reach, restored keys become more and more "in demand" if you will. I think this is similar to Rick's argument about how "entry level" unrestored keys cannot be given the same price point as  same book in higher , more "unattainable" grades........

[lou_fine]

21 hours ago, fishbone said:

great point Gotham about when all others seem out of reach, restored keys become more and more "in demand" if you will. I think this is similar to Rick's argument about how "entry level" unrestored keys cannot be given the same price point as  same book in higher , more "unattainable" grades........

+1

That's the perfect analogy! 

As key and certain other books become more and more expensive and out of the reach of the average collectors, both their restored counterparts and their entry level unrestored counterparts will start to sell for significant price points. 

So, although it's often seen as not a good idea to buy an unrestored book, maybe it's more a case of finding just the right ones to buy. 

Edited March 16, 2017 by lou_fine

[rainmaker]

i get what you guys are saying i dont think this is a case of 'get while the getting is good'.  resto books are very niche with appeal to a very small pool within the already small pool of high end GA books. and i maintain that the spread between blue and purple is widening and this will only become more dramatic as years go on.  if its for a personal collection i love it and can appreciate it.  if you are a speculator looking to go buy one of those resto tec 31s up on ebay thinking you will flip it in 5 years for double what you pay you will get burned.

[Mr bla bla]

11 minutes ago, rainmaker said:

i get what you guys are saying i dont think this is a case of 'get while the getting is good'.  resto books are very niche with appeal to a very small pool within the already small pool of high end GA books. and i maintain that the spread between blue and purple is widening and this will only become more dramatic as years go on.  if its for a personal collection i love it and can appreciate it.  if you are a speculator looking to go buy one of those resto tec 31s up on ebay thinking you will flip it in 5 years for double what you pay you will get burned.

[showcase22gr1959]

When un-restored prices rises further, restored prices will move up too. Maybe not as much as unrestored, but will still show growth. I agree with some of these post were restored becomes the entry level...and we have seen how entry level has performed recently.

[woowoo]

I know few people that would pay price guide  2.0 for a restored 2.0 copy. My point is you cant pay guide prices for a 2.0 blue Action 1 or Tec 27 or Action 7 Few others. So if a Restored Action 1 CGC 2.0 EX was for sale at Heritage auction it would bring over the price guides 2.0 unrestored price IMO. So there is value in a Tec 27/Action 1 Restored and prices will go up fast on theses 2 books.

Edited March 16, 2017 by woowoo

[Mr bla bla]

17 minutes ago, woowoo said:

I know few people that would pay price guide  2.0 for a restored 2.0 copy. My point is you cant pay guide prices for a 2.0 blue Action 1 or Tec 27 or Action 7 Few others. So if a Restored Action 1 CGC 2.0 EX was for sale at Heritage auction it would bring over the price guides 2.0 unrestored price IMO. So there is value in a Tec 27/Action 1 Restored and prices will go up fast on theses 2 books.

There was a 4.5 ext tec27 last year that went for around 180k.

I wonder how far north it has climbed? If at all?