GPA Article #1
Restored
Comics, An Underrated Market?
For the next few installments of this column, I'd like to
delve into the underrated market for restored comics. This
area has been suffering for some time, partially due to the
stigma that they are not good investments. Truth be told,
anyone who has been buying restored comics for the past few
years has probably made a very good investment, simply
because prices have been deflated. A quick example
illustrated by data retrieved from GPA: Back in 2003, when
restored comics were at an all-time low, an extensively
restored Superman #1 in 5.0 brought a little over $8,000,
about half of good value in the price guide. These same
books now trade in the $12,000-$16,000 range. There are
many, many examples like this peppered throughout the first
half of the decade's sales.
CGC has done away with the issue of non-disclosure. The internet has done
away with inflated mark-ups. But this is only one step towards bringing restored
comics back to a respectable place among collectors. Another stigma they suffer
involves the over-simplification of grading standards. For five years, restored
comics have languished with only three categories to grade a vast number of
books. What must come next is an evolution of grading standards for these
comics, similar to the one Overstreet experienced during the '70s and '80s.
Starting with only three grades (Good, Fine, and Mint) the price guide slowly
expanded to eight grades, and the hobby incorporated split grades and quarter
grades shortly thereafter.
A similar path must be followed for restored grading, but alas, this is a
tricky proposition indeed. Restored comics require a multi-layered system of
grading-it's not just defects you're looking for. You must also determine the
extent of restoration, as well as the quality of workmanship. The number of
possible restoration techniques alone is mind boggling, not to mention
establishing a benchmark of which restoration jobs looks "good" and "bad." And
what are these things worth in relation to unrestored copies?
It's enough to make a collector throw his arms up in desperation. But minds
are hard at work building a useable grading system that will encompass all of
these factors. If the grading companies can present an acceptable system that
will mature and develop over time, the point spread between categories should
explode, creating the unthinkable: a high end market for restored comics.
Next installment, we'll begin to dissect the different categories of restored
comics, starting with extent of restoration, followed by level of quality, and
establishing apparent grades. |
