ComicsPriceGuide.com Forums - Comic Grading Tips and Tricks - Value When Submitting to CGC - Messages https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 ComicsPriceGuide.com Forums - Comic Grading Tips and Tricks - Value When Submitting to CGC - Messages en-us http://blogs.law.harvard.edu/tech/rss Jitbit AspNetForum Tue, 16 Mar 2021 22:32:02 GMT Tue, 16 Mar 2021 22:32:02 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from Oxbladder Tue, 16 Mar 2021 22:32:02 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from collectibleshop Oxbladder wrote:
.. if it is damaged is shipping or handling why would an insurer pay for what it may have been rather than what is is currently known to be.....
Just my two cents on the matter. I am not claiming that it is how it is handled now but, as I stated, I know for a fact that originally it was based on the ungraded FMV.


could be, back when they first started, before it became a thing for graded comics to be worth way over raw value most of the time. CGC does change things for good and bad over time. But when you ship raw comics IN, you insure them with the carrier for the raw value, as that's all a carrier is going to pay. After it gets to CGC and they log it in and note no damages, the carrier has nothing to do with them then. The declared value on the CGC invoice is for while it's in their possession, for their insurance company, and then for the carrier when they ship it back to you, so then they're valued/insured at the graded market price you put (guessed) on the invoice. I'm not sure how CGC handles things if there was a fire/water damage before the comics were graded, but they'd probably file for raw value, which is probably all an insurance co. would pay at that point. so there's 2 insurance values to use, one for getting there, and one for getting back.
edited by collectibleshop on 3/13/2021]]> Sat, 13 Mar 2021 00:43:05 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from Oxbladder
Just my two cents on the matter. I am not claiming that it is how it is handled now but, as I stated, I know for a fact that originally it was based on the ungraded FMV.]]> Fri, 12 Mar 2021 17:43:12 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from collectibleshop Jeffberg wrote:
I recently made a large submission to CGC. To estimate value I went with the Overstreet 9.2 grade value since they didn't specify graded or ungraded. Only two books were over $200 by that criteria so I submitted them at standard tier. The rest I submitted at modern tier and valued at $200 each. We'll see if any get bumped up.


Overstreet value is for ungraded, and if you sent in any possible 9.8 issues, the graded market value could be well higher and over the tier thresholds, but CGC will let you know or just charge the difference. again, they want the GRADED value submitted, and you can do auction searches or pay to join gpanalysis for a month and see graded values, and hope there's some fairly current ones to go by. but since you've sent a batch in already, there's no point in paying for GPA till your next batch.

$200+ 9.2 OPG value books can be over $1000 graded value if high grade, so that affects the tier, plus the insured value, so you gotta hope nothing happens them with return shipping, cuz you'll only get the $200 declared value (IF the P.O. or UPS agrees to pay), regardless if CGC bumps it up.
Good luck on 'em.]]> Thu, 17 Dec 2020 16:43:55 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from Jeffberg Thu, 17 Dec 2020 14:13:35 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from BasementComics Tue, 01 Dec 2020 09:37:02 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from collectibleshop
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]]> Tue, 01 Dec 2020 01:46:38 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from glorkar
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.]]> Tue, 01 Dec 2020 00:37:21 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from collectibleshop 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]]> Mon, 30 Nov 2020 23:25:47 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from glorkar Mon, 30 Nov 2020 23:16:42 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from Draven68 Mon, 30 Nov 2020 22:37:24 GMT https://comicspriceguide.com/forum/messages.aspx?TopicID=15738 Message from glorkar Mon, 30 Nov 2020 22:08:16 GMT