Price question on submitted magazine. 1 1

[Alan Thomas]

Hello I have a magazine that I believe will grade at either a 9.6 or a 9.8. Recently the only know 9.6 sold for $2,200.  My copy  is in near perfect condition. So I must assume that the market value is 2200 at the minimum. How and what grading service do I need to use. and how is payment made if I select the under $400 and it grades at a 9.6 I have all ready paid for the grading at this point. What happens. Do you try and run my credit card for the difference, if so and the card is declined what happens.  What happens if I get charged for the unlimited value price and when I sell it I only get $300 for it, do you refund me the difference between what I was charged and the normal $25 price.

This would only seem right seeing as if I claim it to be 400 or less and the actually market value is 2200. Then I assume that I would have to pay more. 

[MattM CS]

Hello Alan,

Grading fees will vary depending on the grading tier you choose. There is no one set grading fee for everything. All the grading fees options can be viewed at here CGC Services & Fees | CGC (cgccomics.com).

Choose a grading tier based on the declared insurance value you list for your book.  Each tier has a maximum declared value amount that can be listed per book to qualify for that tier.  If a book value exceeds that maximum, then a higher tier must be selected. The higher the value of your book the higher the grading fee.  

The value we ask for is an insurance value, the amount you would feel comfortable with in terms of a replacement value if the book was lost or damaged. We encourage you to be conservative as we do not reimburse if it has been over-valued. If a book were grossly under-valued, we would contact you to bump the book to a higher grading tier and you would just pay the difference in the grading fees at that time. Please note, that we do suggest being conservative because we do not reimburse you if the book is overvalued. The declared value amount will also directly affect the return shipping fees for registered mail.  

Lastly, if the book is pumped to a higher fee and your card is declined, the submission will be placed on a shipping hold until that full grading fee has been handled. 

Let us know if you have any other questions. 

[dbcn]

I have a related question @MattM CS - if you're sending a book in to be graded, you estimate the insurance value of the book on FMV of the graded book, correct? What about signature series books - should you set your value based on the FMV of the signed book, or unsigned book?

Seems like if you're putting the $ in for the signature, you'd want that $ back if something happened to the book - but that including the signature value might also break you out of the grading tier - ie if I have a Batman Official Motion Picture Adaptation in NM condition, I'm going to insure it for whatever $100 the graded book is going for (prly not FMV, but this is just an example) and at the Modern Tier for a regular submission; but if I'm sending that in to be signed by Michael Keaton, his signature itself is over $500, so would I be expected set the value as $600 (or w/e the FMV is for the signed book) and with the High Value Tier?

[Alan Thomas]

So I can select the lowest tier regardless of the expected value is?

Maybe I should get strait to the point. I have a magazine Michel Jordon that has nothing wrong with it the are no marks of any sort. A 9.6 sold for $122,000.. If I submit mine there is no way I can presently afford the unlimited tier either now or the foreseeable future. A 122,000 to me is like millions to the average person. So I have a lot of anxiety about this. If I cannot get it graded....you ever have one of those dreams when you find a pile of money and grabe a bunch of it only to wake up squeezing your pillow?

 

 

[csaag]

On 11/10/2023 at 12:56 PM, Alan Thomas said:

So I can select the lowest tier regardless of the expected value is?

Maybe I should get strait to the point. I have a magazine Michel Jordon that has nothing wrong with it the are no marks of any sort. A 9.6 sold for $122,000.. If I submit mine there is no way I can presently afford the unlimited tier either now or the foreseeable future. A 122,000 to me is like millions to the average person. So I have a lot of anxiety about this. If I cannot get it graded....you ever have one of those dreams when you find a pile of money and grabe a bunch of it only to wake up squeezing your pillow?

 

 

Whenever you're interested in selling it, an auction house can prob submit it for you and any fees would be settled when it sells.  Obviously you'd need to contact them to get all the details 

[Alan Thomas]

After great research on CGC site I finally have a good answer. One that makes it affordable. The fair market value is what I paid for it, what a buy has offered to buy it at. Basically what CGC will pay me if they decide to keep it themselves. I'm not saying that they are dishonest, So far I have had no problems with CGC. You need to play the game it's a game right. I talked to someone who is familiar with this type of industry. His advice was to find an insurance company that understands what I am trying to do and buy real insurance, that way if the items I send in get lost or damaged then there is an avenue to having the claim investigated by law enforcement, as well as the insurance company. The person I talked to was qurious if CGC had there own collection of collectables, If so how were they acquired. What documents do they have to support there claims. And he said that there should be a public board of all the items claimed lost or damaged by the customers. He also suggested that if I had to pay more for an item based on its fair market value as insurance, then there should be a document that explains the insurance policy. That without such a thing I had very little chance of getting anything from them if my items were lost damaged or as he made clear stolen. He said that lost and stolen in the legal sense are very different actions. The fact that they do not include stolen in there recognition of possible outcomes. Makes him nervous. He questioned who the actually underwriter of the insurance policy is. If they are calling it insurance then there must be an underwriter who is registered under the federal insurance act. Otherwise there in so actually insurance on my items. He warned me that these practices are not legal and it would be best to have an actual insurance company insure my items. He said this is a very bad situation to get into, if I send something that has a possible value exceeding 100k and it was lost damaged or stolen while at CGC and even if they had to pay 100k for it, They would still have it somewhere. That the old adage of 1X0 = 0 does not stand up to today's mind. That if I had One copy of a Jordan magazine in front of me and I multiplied it zero times it does not disappear. It stays right in front of me.  Personally I will continue to send in my items so far I have had no issues. But I will take his advice if I ever send in something with a high potential value. May there is a company out there that can mark a magazine with ions or radiation something that does not do any damage that way I know the magazine I send in is the magazine I get back. So far I have had no problems at all thou I am new to this. And eager to join the community I just hope there is no conflicts of interest here. A good chance to hear what they have to say, I suppose I'm lucky that my brothers a lawyer. He said l, just like in boxing protect yourself at all times.   Alan Thomas