Action 1 in next Heritage sale with new CGC resto label

[VintageComics]

Yes, this is puzzling.

 

I was told (not by the owner) that the book had been graded an 8.0 with colour touch. No mention of any other restoration.

 

This was also when I was also apprised of the owner's surprise.

 

Leafcasting? It had to have happened after he bought the book, as noted, in the 70's.

 

 

Doesn't matter much now. All "sins" have been revealed by the grading process and the value will be determined by the market.

 

 

I think you are missing a few points.

 

It seems that the book was restored, but not very well. The owner may have missed some of the resto work (as many people do).

 

I'm guessing Ze-man is chiming in because he did some of the re-resto work, after it left Australia but before it got graded.

[G.A.tor]

I believe Roy has it.

[VintageComics]

I hear that he usually does.

 

 

[jaybuck43]

Stupid question, how does this book exist? My understanding from CGC's press release was that the new label didn't start until July 1, yet HA already has a book with that label... so was this done specifically because it's an Action 1? To move the market and get them behind the new label?

[G.A.tor]

Stupid question, how does this book exist? My understanding from CGC's press release was that the new label didn't start until July 1, yet HA already has a book with that label... so was this done specifically because it's an Action 1? To move the market and get them behind the new label?

There are already several restored books out there with the new label. Guess cgc is a little ahead

[The-Collector]

CGC explains their new label system here: LINK

 

To summarize...

 

Quality of restoration — replacing “Amateur” and “Professional” designations.

 

A = best similar to “professional”

B = middle

C = worst similar to “amateur”

 

 

Quantity of restoration — expanding upon the old “Slight”, “Moderate” and “Extensive” designations.

 

1 = slight

2 = slight/moderate

3 = moderate

4 = moderate/extensive

5 = extensive

 

 

Best restoration grade: A-1

 

Worst restoration grade: C-5

 

In this case, the Action #1 received the best grade possible for quality of restoration "A", with the quantity of restoration "moderate/extensive" earning a "4." Thus, the overall restoration grade of an "A-4."

 

 

Its only on CT the Action #1 falls into Mod/Ext. On most of the other repairs it falls under Mod.

So why is this book not rather a 'Mod' than a 'Mod/Ext' ?

Ext amount of piece fill (leaf casting)?

 

Nope:

Piece fill cover (leafcasting fill) Right Bottom Front Cover A-1

Piece fill cover (leafcasting fill) Spine A-1

Piece fill interior (leafcasting fill) A-1

 

Isn't the degree of restoration indicated on the label the worst degree assigned to an individual type of work? So as the exterior CT received an A-4 and that is the lowest the degree on the label is A-4.

 

 

But if the average numerical designation across all parameters (in the graders notes) are say A-2 (or 3); shouldnt that take the book into Mod or Sligth/Mod territory? Piece fill is only slight (A-1). Why pick pick out the "severest" work (on this book CT) and let it dominate the label?

 

I don't think so, as if a majority of the font cover was covered in CT that merited an A-5 but the only other work was A-1 a majority of the book still has restoration and so deserves an extensive notation.

[jaybuck43]

Stupid question, how does this book exist? My understanding from CGC's press release was that the new label didn't start until July 1, yet HA already has a book with that label... so was this done specifically because it's an Action 1? To move the market and get them behind the new label?

There are already several restored books out there with the new label. Guess cgc is a little ahead

 

Thanks Rick. I'll send in the early Batman's and Supermans that I have that are CT'd and hope for those sweet new labels

[adamstrange]

Stupid question, how does this book exist? My understanding from CGC's press release was that the new label didn't start until July 1, yet HA already has a book with that label... so was this done specifically because it's an Action 1? To move the market and get them behind the new label?

Simple. It's already July in Australia.

[Marvel Zombie]

No. This book has never been graded before. It's been in a collection in Australia since the 1970's.

 

I can confirm this and also advise that the owner had no idea the book had undergone any work.

 

ouch

 

 

bummer ...

[Sqeggs]

I hear that he usually does.

 

 

Is it catching?

[Vision75]

Stupid question, how does this book exist? My understanding from CGC's press release was that the new label didn't start until July 1, yet HA already has a book with that label... so was this done specifically because it's an Action 1? To move the market and get them behind the new label?

There are already several restored books out there with the new label. Guess cgc is a little ahead

 

 

Yeah, CGC ain't no dummies. It's one thing to post the new resto guidelines on their website. It's quite another to see the most valuable comic book graded using this system. And, the book is available through the classiest comic auction house. Hardcore folks like us have been all over the new guidelines since the CGC announcement (and many folks were privy earlier) but for others the Action 1 is their first exposure.

[Iceman399]

Stupid question, how does this book exist? My understanding from CGC's press release was that the new label didn't start until July 1, yet HA already has a book with that label... so was this done specifically because it's an Action 1? To move the market and get them behind the new label?

There are already several restored books out there with the new label. Guess cgc is a little ahead

 

Wish they would get ahead with the cgcing.

 

Oh great ones price estimates?

[AnkurJ]

Im going to start with $125-$135k.

[Marvel Zombie]

Im going to start with $125-$135k.

 

for an 8.0?

 

the CC 7.0 went for 170K

[SuperiorSpiderMan]

200k

 

 

 

[jaybuck43]

Ankur I'd go much higher than that. An EP 7 with married pages went for $120k in 2012, I can't imagine a "pure" MP/EP 8 going for only a few K more than that. My guess is $175,000 Btw, if anyone wants to see the graders notes on that book, CGC posted them:

 

I have a question for the big players on the boards though who would/could chase this book? If you have that kind of disposable capital lying around why not spend a bit more and go for a blue label. Yes I know a blue label 8 is about 1.5 million But a 6 can be had for 300k. I can understand for the "little guy" who goes after a Action 1 Purple label low grade because thats the most they can afford, but I just don't get high grade purples being big money books. The people that can buy them, could also buy the regular blue.

[Sqeggs]

Ankur I'd go much higher than that. An EP 7 with married pages went for $120k in 2012, I can't imagine a "pure" MP/EP 8 going for only a few K more than that. My guess is $175,000 Btw, if anyone wants to see the graders notes on that book, CGC posted them:

 

I have a question for the big players on the boards though who would/could chase this book? If you have that kind of disposable capital lying around why not spend a bit more and go for a blue label. Yes I know a blue label 8 is about 1.5 million But a 6 can be had for 300k. I can understand for the "little guy" who goes after a Action 1 Purple label low grade because thats the most they can afford, but I just don't get high grade purples being big money books. The people that can buy them, could also buy the regular blue.

 

Good points although there are people who argue that the price gap between purple and blue may eventually narrow substantially.

[nearmint]

 

I have a question for the big players on the boards though who would/could chase this book? If you have that kind of disposable capital lying around why not spend a bit more and go for a blue label. Yes I know a blue label 8 is about 1.5 million But a 6 can be had for 300k.

 

You'd have to double that for a 6.0, and you'd still probably get outbid. Metro has a 5.0 on their site for 660K.

[bluechip]

Ankur I'd go much higher than that. An EP 7 with married pages went for $120k in 2012, I can't imagine a "pure" MP/EP 8 going for only a few K more than that. My guess is $175,000 Btw, if anyone wants to see the graders notes on that book, CGC posted them:

 

I have a question for the big players on the boards though who would/could chase this book? If you have that kind of disposable capital lying around why not spend a bit more and go for a blue label. Yes I know a blue label 8 is about 1.5 million But a 6 can be had for 300k. I can understand for the "little guy" who goes after a Action 1 Purple label low grade because thats the most they can afford, but I just don't get high grade purples being big money books. The people that can buy them, could also buy the regular blue.

 

Good points although there are people who argue that the price gap between purple and blue may eventually narrow substantially.

 

People with "that kind of disposable capital" don't always buy things that are priced the highest just because they're priced the highest. In fact people with lots of money often pride themselves on spotting the difference in prices between two things that are essentially equal, and I think it makes a lot of sense that they would look at Action 1s priced six figures apart and then ask why the one is so much less just because it has a few drops of ink (especially when the other one is also allowed drops of ink if they're applied in a different way). That is not to say the higher cost book is priced too high but that the lower cost book is priced artificially low.

 

The kind of notes that CGC put on that certificate is a great step in the right direction. People who pay five or six figures for things need and deserve details like that.

 

 

[jaybuck43]

I'll defer to your knowledge on that Jeff I never go by what metro's asking prices are though just FYI They ask for the moon and the book sits. If market price was 660 for the book then it would have been bought by now, at least in my opinion.

 

My problem with action 1 is I think it is a book that eventually will fall down. My generation revere the book because of the price attached (holy it's a 2 million dollar book WOW) but I would never spend that money on that book, even if my net worth was well over a billion dollars. Why? Because I'd rather have Batman (TEC 27). I think there is a whole generation of collectors who are going to grow up loving Batman, Spider-man, The Avengers, Captain America etc because of the movies and the cartoon shows but not the comics themselves. Eventually when they go to collect they are going to go to the books that are nostalgic and important to them and I think Superman has been losing that nostalgia for a long time. One day he is going to be Flash Gordon.

 

The other issue is the market. I could cash out some of my stock portfolio to make a run on this book, but what is my incentive? Market is doing gang busters at the moment, getting great ROI. 8 months ago I bought big into Shell (RDS.B) In 8 months the stock has increased in value 27% and I've had two dividend payouts of 90 and 94 cents per share. Does anyone here think that anything could happen for that action one to jump in price 27% in less than a year?

 

Ok over sorry