Restored CGC's going for crazy amounts?? 4 4

[intlnews]

I just checked HA's website and the solds for restored Superman 1, Batman 1, Dec. Comics 1, etc. are going for really crazy amounts.  What am I missing??  I mean some can purchase a home after a sale.

Edited November 8, 2023 by intlnews

[action1kid]

New breed of collector looking looking for 6 figure Big keys. A dying breed.

[whomerjay]

I don’t fish in that pond (uber keys) but I do sense that for many books folks are beginning to consider restored when they previously would not. Books with minor resto (esp small amount of color touch) in mid grade seem cheap at about one third to one half of unrestored price, and I think that spread is shrinking. Also, if the minor resto on say a 6.0 can be reversed, resulting in a blue label 4.0, that restored book priced below a blue 4.0 looks attractive. I personally have bought more restored books in the last year than I did the prior 30 years. I’ve changed my valuation of certain types of restored books and have no problem pulling the trigger, esp on HTF GA.

[tth2]

On 11/9/2023 at 7:25 AM, intlnews said:

I just checked HA's website and the solds for restored Superman 1, Batman 1, Dec. Comics 1, etc. are going for really crazy amounts.  What am I missing??  I mean some can purchase a home after a sale.

Because sellers of unrestored copies can purchase a mansion after a sale.  Collectors who can't afford to pay a mansion price for a mega-key but still want to own one have accepted that they have to settle for restored books.

[Flex Mentallo]

Will CGC holders preserve books indefinitely? Or will high grade unrestored books become scarcer over time? Where might the market be for restored books in, say, 50 years?

 

I've posted this one many times before - but I had no hesitation paying over the mark for it because I knew how rare it is with saturated colors, and I cared not one jot for the resto.

Edited November 9, 2023 by Flex Mentallo

[intlnews]

On 11/8/2023 at 9:52 PM, tth2 said:

Because sellers of unrestored copies can purchase a mansion after a sale.  Collectors who can't afford to pay a mansion price for a mega-key but still want to own one have accepted that they have to settle for restored books.

 

Very true. I remember years ago when many people said I was crazy to buy restored books.  While not the majority of my books, they are worth the most. One, it's hard to let them go now. Two, the pool of people able to afford them is getting lower and lower.  My restored Batman 1, Superman 1, DC 1 and DC 27; all restored; have jumped sky-high out of no where. I also have a 4.0 AM 15 I paid 5k for in 2005. I was shocked when someone offered me 26k for it.

I am thinking we're in a bubble.

[tth2]

On 11/9/2023 at 7:08 PM, Flex Mentallo said:

and I cared not one jot for the resto

I envy you! 

[tth2]

On 11/9/2023 at 10:02 PM, intlnews said:

I am thinking we're in a bubble.

We've definitely been in a bubble.

[zzutak]

On 11/9/2023 at 6:02 AM, intlnews said:

Two, the pool of people able to afford them is getting lower and lower.

Are you sure about this?  There are many people who have become much more wealthy during the past three years -- the complete opposite of what has happened to most middle-class citizens as a result of pandemic-related lock-downs in 2020 followed by sharp inflation-driven interest rate hikes beginning in Feb-Mar 2022.

The buyers of the true $1+ million Golden Age mega-keys have a completely different reality than the folks who were setting new GPA highs on relatively common Silver/Bronze in 2021-22 (or folks like me, who never set anything close to a GPA high as either a buyer or a seller). 

[Robot Man]

I have always felt that the few well off people that could afford and pay for higher grade big books are dwarfed by hundreds of those who just want to own one. These folks are content to buy much lower grade or even restored copies. The myth that lower grade books are worthless is just crazy. Lower grade books have in some cases, have blown away the percentages of high grade prices. (Other than the Promise Collection). 

And many folks have realized that accurately graded and noted restored books are something they can live with just to own one.

I think Jon Berk’s collection really legimitized restored books. Jon was a visionary and people finally figured this out. 

[intlnews]

On 11/9/2023 at 1:18 PM, Professor K said:

I'm actually surprised that with all the very wealthy people in the USA alone that more of them don't collect or "invest in" high end/grade Gold (and Silver) books. Even upper and mid grade hard to come by GA books.  People are inheriting 100's of thousands and millions all over every day and many are already pretty well off. Add to that the thousands of super rich people. Glad more of them aren't. 

Reminds me of my George RR Martin theory a couple of years ago when auction prices of mainly Silver and Bronze went haywire. Someone like him who is definitely worth a few hundred million at least (I think he's a billionaire) could just outbid everyone on everything if they wanted to. One person with a boatload of money could win every high grade or scarce book at any price it takes and with that drive up the prices that lower grade copies sell for. Like what happened with TMNT #1 a few years back.  I would be that guy if If won the megapowerball lottery for hundreds of millions. 

Yep, all very true. Our friend lou_fine here has said that many times about the Berk auction and I'm living proof. That "auction event" it was really pulled me into Golden Age. Just wish I bid on a few. I remember thinking at the time being surprised on how many of his books had restoration, most (or all) were slight to moderate but I was still kinda surprised.

I never had the chance to meet Mr. Berk but I always say if it's good enough for Jon it's good enough for me. 

To address the title of this thread I wouldn't go as far as calling them Crazy Amounts. A lot of slight and moderate restored books seem to be selling for half or nearly half of what the previous comparable Blue label sale went for, when I guess in the past if a restored book went for 25% of a comparable Blue label copy that was a lot. Some restored I've seen sell for about the same as the previous Blue lable in about the same grade. Interesting indeed.

 

I purchased a Superman 1 for 30k in 2012, I may be able to sell it for near 150k (source HA).  I purchased a Batman 1 for 35k, I can sell it also for near 100k.  I can sell my Dec 27 for north of 375k and I think I purchased it around 2000 for 18k.  Just saying the prices now are crazy.

[Mr bla bla]

The slight (P) books i have, - heck even the mod/ext ones - i love them. And without the purple stigma i wouldnt own them.

[intlnews]

On 11/9/2023 at 2:10 PM, Mr bla bla said:

The slight (P) books i have, - heck even the mod/ext ones - i love them. And without the purple stigma i wouldnt own them.

Agreed. Kinda regretting not buying the Action Comics 1 I saw for sale at the turn of the century.  I did snag a complete set of Spiderman 1 - 35 for 5k in 2004 off of eBay. That was a nice score. Only 2 restored comics out of the whole bunch; very minor.

I would had never would think these books would be worth so much.

[Paul © ® ⚽️💙™]

On 11/9/2023 at 7:09 PM, intlnews said:

 

I purchased a Superman 1 for 30k in 2012, I may be able to sell it for near 150k (source HA).  I purchased a Batman 1 for 35k, I can sell it also for near 100k.  I can sell my Dec 27 for north of 375k and I think I purchased it around 2000 for 18k.  Just saying the prices now are crazy.

 

[badback83]

I’ll take a restored copy all day.  I’ve been that way for years.  Restored prices work better within my budget.  Of course I’d prefer all blue label books, but I can’t afford it.  And sometimes, all that will pop up for a harder to find issue is a restored copy.  Beggars can’t be choosers, or something like that.

[The Lions Den]

On 11/9/2023 at 6:08 AM, Flex Mentallo said:

Will CGC holders preserve books indefinitely? Or will high grade unrestored books become scarcer over time? Where might the market be for restored books in, say, 50 years?

 

I've posted this one many times before - but I had no hesitation paying over the mark for it because I knew how rare it is with saturated colors, and I cared not one jot for the resto.

  

[intlnews]

On 11/9/2023 at 9:41 PM, Paul (GG) © ® ™⚽️💙 said:

 

NP. I can CashApp you $010.  PM your handle.  ;'p

[Robot Man]

On 11/9/2023 at 11:27 AM, intlnews said:

Agreed. Kinda regretting not buying the Action Comics 1 I saw for sale at the turn of the century.  I did snag a complete set of Spiderman 1 - 35 for 5k in 2004 off of eBay. That was a nice score. Only 2 restored comics out of the whole bunch; very minor.

I would had never would think these books would be worth so much.

If I had known then what I know now, I would have bought EVERY PCH book in the dollar boxes under tables back in the very early ‘70’s. I actually passed on a lot of now big keys because I already had them…

[Aman619]

yeah.  Im always amazed at all the book I DID pull the trigger on when remembering the ones I talked myself out of cause of price, or I already had a copy etc.  Then again, not all of our purchases pay off in the end.  If a $600 comic is now worth 1200, but you bought it 30 years ago,  thats not such a great return.  And plenty haven't gone up at all, or lost collector fervor since then, or failed to keep up with the big books.

[MrBedrock]

I wish I had invented Google when I had the chance.