The CGC grading service and fees are so confusing, lend a helping hand? 0

[jou13]

So without going into much detail I have a bunch of collectible magazines, most in the pre-1975 era. There are some that I would like to get slabbed - those being the early issues. I am assuming this lands me in the Economy category. It also says the max value is $400. 

Who decides the value? Them or me? If its me, where would I get an accurate and reliable value? Also, if it estimated over $400 would they automatically charge me for the Standard fee($85)?

Have you found the current turnaround times on the CGC website to be accurate? 216 days seems excessively lengthy. 

[StillOnly25Cents]

I'm not an expert but will try here

you decide the value for insurance purposes ..... yes, seems a bit silly that you are asking a company to grade your book which can determine the value yet you have to determine the value first .... best source would be something like ebay sold listings 

yes if the book is going to be declared a value over $400 you would have to submit in Standard tier

turnaround times are extremely long but as I understand they are even longer for magazine size books, also keep in mind days listed are working days and are just estimates which in many cases trend to be lower than what the actual turnaround time is 

good luck with your submission(s)

Edited March 26, 2022 by StillOnly25Cents

[shadroch]

On 3/25/2022 at 7:22 PM, jou13 said:

So without going into much detail I have a bunch of collectible magazines, most in the pre-1975 era. There are some that I would like to get slabbed - those being the early issues. I am assuming this lands me in the Economy category. It also says the max value is $400. 

Who decides the value? Them or me? If its me, where would I get an accurate and reliable value? Also, if it estimated over $400 would they automatically charge me for the Standard fee($85)?

Have you found the current turnaround times on the CGC website to be accurate? 216 days seems excessively lengthy. 

I wouldn't submit anything until you have an idea what anything is worth.

It's 216 business days, not calender days and I'd be surprised if they kept to that timespan.

 

Edited March 26, 2022 by shadroch

[Kevin76]

CGC graders basically decide what your books are worth after they are graded since they are in on the money generating cash cow, If they think it's worth more than what you put down, they'll charge you more and you'll recieve the same service you selected but charge you more. So don't worry about the grading tiers.  

Edited March 26, 2022 by Kevin76

[jou13]

On 3/25/2022 at 11:04 PM, StillOnly25Cents said:

I'm not an expert but will try here

you decide the value for insurance purposes ..... yes, seems a bit silly that you are asking a company to grade your book which can determine the value yet you have to determine the value first .... best source would be something like ebay sold listings 

yes if the book is going to be declared a value over $400 you would have to submit in Standard tier

turnaround times are extremely long but as I understand they are even longer for magazine size books, also keep in mind days listed are working days and are just estimates which in many cases trend to be lower than what the actual turnaround time is 

good luck with your submission(s)

Thank you for the input, it is making more sense. I was thinking about using eBay sold listings but my biggest hurdle is the vast difference in grading criteria for ungraded magazines. One person may say it is a 8.0 while another may see it as a 4.5. I'll just have to use my best guesstimate.

 

CGC pricing feels like a damn racket. Jesus.

Edited March 26, 2022 by jou13

[jou13]

On 3/26/2022 at 10:11 AM, Sold! said:

This doesn't happen unless there's a hidden defect or something.

I mean honestly no one really knows what the magazine will grade as until CGC grades it. Deciding on the value of the magazine and if its worth it to be slabbed can be very difficult unless you are a professional grader.

[shadroch]

On 3/26/2022 at 7:21 AM, jou13 said:

I mean honestly no one really knows what the magazine will grade as until CGC grades it. Deciding on the value of the magazine and if its worth it to be slabbed can be very difficult unless you are a professional grader.

How in the world did the hobby survive without CGC to tell us what a book would grade at. 

[revat]

Cgc grading isn’t for everyone.  
 

and from my experience Cgc doesn’t upcharge you typically if you’re near the “tier border” in terms of value.

Do what research you can, act in good faith, and you’ll be fine.  

[jou13]

On 3/26/2022 at 11:37 AM, shadroch said:

How in the world did the hobby survive without CGC to tell us what a book would grade at. 

Well yeah that’s the thing. Before CGC it was up to each trader’s interpretation as to what a magazine’s overall condition was. There was no ground truth, so to speak, to compare it to. 

Edited March 26, 2022 by jou13

[shadroch]

On 3/26/2022 at 1:14 PM, jou13 said:

Well yeah that’s the thing. Before CGC it was up to each trader’s interpretation as to what a magazine’s overall condition was. There was no ground truth, so to speak, to compare it to. 

I'm going to guess you weren't in the hobby before CGC. There have been hobby standards since Overstreet  first published in 1970.   It isn't rocket science. 

[jou13]

On 3/26/2022 at 10:08 AM, Sold! said:

How so?

Because the high cost of slabbing a magazine offsets the value of having it slabbed in the first place.

[Jeffro.]

On 3/26/2022 at 4:45 PM, Sold! said:

There was a comics hobby before CGC? The hell you say! 

[theCapraAegagrus]

On 3/25/2022 at 10:22 PM, jou13 said:

Have you found the current turnaround times on the CGC website to be accurate? 216 days seems excessively lengthy. 

They're accurate estimates.

[jou13]

On 3/27/2022 at 11:53 AM, Sold! said:

So it's CGC's fault that your magazine isn't worth more?

Obviously not, however they are responsible for raising their prices. 

[jou13]

On 3/25/2022 at 11:43 PM, shadroch said:

I wouldn't submit anything until you have an idea what anything is worth.

It's 216 business days, not calender days and I'd be surprised if they kept to that timespan.

 

I was reading online about the Megacon happening in Orlando in May. CGC will be on-site to accept submissions. Do you know how this works exactly? I don’t live too far from Orlando and figured I could save on shipping costs by attending. Could also ask around for potential buyers, maybe. 

Edited March 29, 2022 by jou13

[Bird]

On 3/29/2022 at 12:46 PM, jou13 said:

Do you know how this works exactly?

basically just as you would expect. You bring your things, preferably with prefilled out forms, and they verify what you have when you hand it over and you're all done. But watch them handle the books they are given and decide if this is wise for you. Probability of damage is different than mailing but not necessarily zero, lots of books being boxed, stacked, etc for the drive back to FL.

[revat]

On 3/29/2022 at 9:46 AM, jou13 said:

I was reading online about the Megacon happening in Orlando in May. CGC will be on-site to accept submissions. Do you know how this works exactly? I don’t live too far from Orlando and figured I could save on shipping costs by attending. Could also ask around for potential buyers, maybe. 

Generally, the steps go like this, with the caveat that the last on-site grading was pre-pandemic.

1.  Ideally, fill out your paperwork ahead of time at home (although I assume you can do it there too) online, printout appropriate paperwork.

2.  Bring your books and paperwork to the CGC booth, there will probably be a line to wait in.

3.  Submit your books and paperwork.  They will give you an estimated pickup time.  There may be some option where they text you when the order is done.  This may not be the same day you submit.  

4.  Generally the prices are higher than they would be under normal submissions.  But you save on shipping fees.  Make sure you check the website ahead of time so you're not surprised about costs.

5.  In some cases, there are submission cutoffs if volume is too high, as they can only physically slab so many in a given amount of time.  So generally better to submit as early in the day (or convention) as possible.

 

 

[revat]

On 3/29/2022 at 10:39 AM, Sold! said:

On 3/29/2022 at 10:30 AM, revat said:

Generally, the steps go like this, with the caveat that the last on-site grading was pre-pandemic.

1.  Ideally, fill out your paperwork ahead of time at home (although I assume you can do it there too) online, printout appropriate paperwork.

2.  Bring your books and paperwork to the CGC booth, there will probably be a line to wait in.

3.  Submit your books and paperwork.  They will give you an estimated pickup time.  There may be some option where they text you when the order is done.  This may not be the same day you submit.  

4.  Generally the prices are higher than they would be under normal submissions.  But you save on shipping fees.  Make sure you check the website ahead of time so you're not surprised about costs.

5.  In some cases, there are submission cutoffs if volume is too high, as they can only physically slab so many in a given amount of time.  So generally better to submit as early in the day (or convention) as possible.

 

 

Expand  

IIRC there isn't any on-site grading.. I think they're just accepting submissions to take back with them.

oh good call i read it wrong.

Yah just show up at the booth.  Hand them your books and some pre-prepared paperwork.  Leave.  Take a picture with some folks dressed up like Deadpool.  Go home.  Forget about your books until they comeback in 12-18 months.

[jou13]

On 3/29/2022 at 1:24 PM, Sold! said:

 not all comics are worth slabbing 

This is personally my biggest issue. I can't honestly grade them myself without being biased. There's no easy button in deciding which ones to send off.. having to factor overall grade which equates to a fair market value then minus CGC fee and shipping costs. 

Or perhaps I can forgo any CGC grading and try to sell them here on the forum since there arent any fees like eBay.

Edited March 29, 2022 by jou13

[revat]

On 3/29/2022 at 1:26 PM, jou13 said:

On 3/29/2022 at 10:24 AM, Sold! said:

 not all comics are worth slabbing 

This is personally my biggest issue. I can't honestly grade them myself without being biased. There's no easy button in deciding which ones to send off.. having to factor overall grade which equates to a fair market value then minus CGC fee and shipping costs. 

Or perhaps I can forgo any CGC grading and try to sell them here on the forum since there arent any fees like eBay.

If financial concerns are your only (or biggest concern), treat it like an actual business.  

Do cost/benefit analyses, consider your risk/uncertainty, your opportunity cost, factor in as many of the extra random costs/taxes as you can.  Think of the best/worst case scenarios, the possible selling venues, and really take into account how long everything will take, both in terms of tying up your comics/submission money in grading and your own personal time to learn whatever it is you need to learn about estimating costs/revenues, grading/pressing/advertising/selling comics/magazines, etc. 

All of this stuff is really subjective, and depends so much on your own situation.

I will also say that there are some dealers that do consignments, you can ship them your collection, and THEY will go through it and decide which are best candidates for grading, then THEY will front the cost for grading (though obviously they take it out the back end after selling), and then they will handle the advertising and selling of everything.  That includes dealing with payments and returns and shipping to individual customers.  It can be relatively simple and convenient, and then outside of contacting them initially and mailing them your books, after that you just sit back and collect checks.  And THEY will track your sales and mail you your tax forms at the end of the year so you don't have to track it (although you should).  And you can generally trust that they are trying to maximize your revenue because that also maximizes their revenue.  Some dealers do auctions and/or buy-it-now, depends on who you work with.

OF COURSE they do all that for a fee.  That option is also not for everyone, but it might be worth considering, but it really depends on your goals and personal situation.  If you're trying to squeeze every last dollar or hit a certain high profit percentage, that might not be for you.  It all depends on the person.  Obviously make sure you find a reputable dealer if you are considering the consignment route.