What should I declare if I can't find FMV anywhere? 2 2

[Joe Fox]

I recently acquired a rare comic (Batman No.1 Japanese Manga from 1966) and plan to submit for grading. I found one sale from 2013 for the book and of course I know what I paid for it but I'm not really sure what the FMV is. Should I just use the price I paid for declared value?

[onlyweaknesskryptonite]

4 hours ago, Joe Fox said:

I recently acquired a rare comic (Batman No.1 Japanese Manga from 1966) and plan to submit for grading. I found one sale from 2013 for the book and of course I know what I paid for it but I'm not really sure what the FMV is. Should I just use the price I paid for declared value?

I would assume you are looking for FMV for insurance or CGC when you submit?  

If so then decide what tier you would like to submit under and use whatever the max of that tier is. 

[onlyweaknesskryptonite]

What you have to keep in mind when sending books for grading is that FMV you claim is all that will be paid in the event something happens. ( lost, damaged, etc) with that being the case you more than likely would not be able to acquire another for what you paid or the 2013 sale. FMV is tricky when there are not a lot of data. For insurance always aim higher as what will this be worth if it comes back higher graded than expected?  Or what will it be worth in a year? Better safe than sorry. Also should the unthinkable occur they will do their own assessment of FMV and make an offer to settle, unless you just mark it low. Then they will only pay what you placed as FMV. 

[Joe Fox]

Thanks. Less about insurance and more about which tier it goes through. Since the price I paid is still in the same tier as the 2013 sale I use what I paid as the declared value. Such a unique book could go for more next year when I get it back graded.

[onlyweaknesskryptonite]

35 minutes ago, Joe Fox said:

Thanks. Less about insurance and more about which tier it goes through. Since the price I paid is still in the same tier as the 2013 sale I use what I paid as the declared value. Such a unique book could go for more next year when I get it back graded.

You are welcome.  It is usually best to use the thought of what would you want to be paid for it should the unthinkable occur.  That number would be a good guide for declaring a FMV for submission.

( also remember that it isn't always just what you paid for the book, but the added cost of shipping both to and from as well as slabbing.) Just incase the item is damaged on the way back from CGC. 

Good luck! 

 

Also I am curious if you could post a picture of the cover? I would be interested in see it. Thank you. 

[dporges]

I'm now wondering, given that CGC is in Florida, if anyone's checked the building's integrity recently.

[Joe Fox]

13 hours ago, onlyweaknesskryptonite said:

You are welcome.  It is usually best to use the thought of what would you want to be paid for it should the unthinkable occur.  That number would be a good guide for declaring a FMV for submission.

( also remember that it isn't always just what you paid for the book, but the added cost of shipping both to and from as well as slabbing.) Just incase the item is damaged on the way back from CGC. 

Good luck! 

 

Also I am curious if you could post a picture of the cover? I would be interested in see it. Thank you. 

Here you go...

[William-James88]

22 hours ago, Joe Fox said:

I recently acquired a rare comic (Batman No.1 Japanese Manga from 1966) and plan to submit for grading. I found one sale from 2013 for the book and of course I know what I paid for it but I'm not really sure what the FMV is. Should I just use the price I paid for declared value?

Declare whatever you want to be paid back if they lose your comic. That's all the FMV they ask is used for 

[Joe Fox]

14 minutes ago, William-James88 said:

Declare whatever you want to be paid back if they lose your comic. That's all the FMV they ask is used for 

That's good to know! Thanks