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glorkar Posts: 689
11/30/2020
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So I'm thinking about submitting some books to CGC to get graded. The tiers are based on value. Are these values the raw or graded values?
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collectibleshop Posts: 3088
11/30/2020
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glorkar wrote:
That doesn't really answer my question. There's fair market raw and fair market graded. The book I'm looking at is valued at $200 raw / $700 graded.
The tiers are for the graded value. If you send in something grossly undervalued they will bump it up a tier if need be, and charge you the new tier price. It's also for insurance purposes, both for while it's in-house, and for return shipping. If your $200 raw book gets lost or damaged during return shipping and you had the value as $200 on the submission and they accepted that, then you'll only get $200 from a insurance claim, not the new graded value. While shipping damage to the actual BOOK is rare, it happens from vehicle or handling accidents, as does some getting lost, or stolen after delivery.
Best to use the $700 value and pay the tier price is my advice.
By the way, you can always ask CGC by phone or email, and look on their forums, there's tons of posts about this and other FAQs.
edited by collectibleshop on 11/30/2020
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collectibleshop Posts: 3088
12/1/2020
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I my vast Highlander-age experience, it's most always better to go to the source for an answer (although Highlander: The Source movie inhaled large chicken embryos), if one still exists. That way you stand the best chance of getting a correct answer. Even long time members of the CGC forums will answer a question with old or wrong CGC info, and I always wonder why the poster just didn't call or email CGC instead. May not be faster, but more likely to be right, although they've told me wrong things too, or not updated everyone on some new policy or procedure.
Did you find this page on their site? The link is buried on the fees page at the bottom. https://www.cgccomics.com/submit/declared-value-policy/
This part is important: "If CGC determines that a collectible is undervalued and does not qualify for the tier or services selected, it may adjust the tier and charge the appropriate difference in CCS services, grading and/or services fees based on its determination of the collectible’s current Fair Market Value. CGC will not, however, change the declared value originally assigned by the submitter.
More: "It is therefore very important that the declared value listed by the submitter represent the collectible’s current fair market value (but they don't spell it out as 'graded value', but to me they should).....CGC reserves the right to use the declared value listed by the submitter on the CGC Submission Form as the current Fair Market Value, and in no event will CGC’s determination of current Fair Market Value exceed the declared value listed by the submitter on the CGC Submission Form. CGC’s determination of the current Fair Market Value will be absolute and binding on all parties."
So while they may bump it up to another tier if they determine the market value is enough more than what the submitter says/guesses, the insured value during storage and shipping will remain the value the submitter stated, even if the book is worth well more after grading.
They don't explicitly say the fair market value is the graded value that I see, but they say "the “current Fair Market Value” is the value of the collectible if it were to be sold, as determined by CGC in its sole reasonably exercised discretion." So I assume they mean value AFTER grading, for insurance purposes, to cover its potential full value. They don't get super picky about submitters being off a bit on the value guesses from what I've read, and may not bump something up a tier for being worth a little over the max value, cuz a .2 or .5 difference could make a big enough diff to do that, but the submitter doesn't really know what the grade will be for sure most times, so they can't be super sure of the graded value either. So you hope to be close, and that nothing bad happens to the books.
So now I know where to find that info, so will bookmark it.
edited by collectibleshop on 12/1/2020
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glorkar Posts: 689
12/1/2020
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Thanks. That helps a lot.
I checked out the faq but didn't really see anything.
And to be honest, this forum is kind of my go-to site for all things comics. I didn't even think to check their forums.
I would have eventually looked there or emailed them if I came up empty here.
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