Restored Books: A Metaphor in Car Ownership

by Take Root

tmt Restored Books: A Metaphor in Car OwnershipRestored books are a tough corner of the market to figure out. Each one is unique, and value can fluctuate wildly. So let’s think it through a metaphor.

I’ve owned a lot of cars. I’ve had ’66 Barracudas, two ’72 Dodge Darts, a Grand National, and even a 1929 Ford Model A. Cars are a large part of my family and it’s natural to be buying, selling, and flipping automobiles.

A Quick Anecdote

A friend had told me his brother was looking to sell his 1978 Volkswagen Bus. Pancake motor, minimal rust, and a hippie mural scrawled on the sides. It was a perfect candidate for a restoration. So, I talked to his brother, agreed on a good price for both of us, and I was there the next day with a car trailer. We pushed it up the ramp, latched it down to the trailer, and walked inside to sign the pink slip. When he pulled it out, my heart sank, it had a Salvage Title.

Salvage Title

For those of you unfamiliar with the term, it refers to any car that had been damaged beyond the value of the car and paid out by an insurance company. For new cars, that means considerable damage: bent frame, caved front end, structural damage. For older cars, it can be anything that would cost more than what it’s worth.

Salvage titles hold a stigma in the car community because you can never be sure what exactly happened to a car that had been salvaged and repaired. And the “Salvage” denotation follows the car until it hits the crusher.

purple-alone Restored Books: A Metaphor in Car Ownership

The Purple Label

In comic books, at least ones graded by CGC, the comic has a deep purple label denoting its restoration. Sometimes you’ll see sellers on auction sites hide the purple label in the featured image only to show it in the second click. Why would they do that? Because most collectors don’t want touched-up books. They want Clean Titles.

Stigma

While the metaphor isn’t perfect, I think it helps to clarify the position of restored comic books in the comic community. There are plenty of restored books out there, but there’s something about that haunting purple label that keeps buyers away. The value of a restored book depends on the buyer; there is no consistent pricing because it depends on the amount of restoration, what kind of restoration, etc. It comes down to the individual buyer calculating how much the comic is worth to him or her because there is no universal value for restored books.

purple-label Restored Books: A Metaphor in Car OwnershipResale Value

Similarly, cars with Salvage Titles have the same issue. Some buyer might think a salvage title is no big deal, they’ve always wanted a 1993 Toyota Supra and they’ll gladly pay 20% less because it’s a Salvage Title. They don’t care. But the next buyer might not feel the same. And that’s the issue with Salvage Titles and Restored Comic Books. Nobody knows the fair market value of them because it is so dependent on the individual buyer. They are also a LOT harder to sell.

Conclusion

There’s nothing wrong with purchasing restored comics. There’s also nothing wrong with purchasing salvage title cars. You can get a great deal on something you really want, but it comes at a cost. If resale is something you aren’t that worried about, then grab those purple labels and enjoy your discounted books. Just know, not everyone is going to see the same value in them as you do.

To finish my anecdote, I sat at the table and stared at the pink slip knowing what I had to do.

“We can take it off the trailer if you want.”

I looked at him and thought.

“Yeah, we’re going to have to take it off.”

archie Restored Books: A Metaphor in Car Ownership

 

GoCollect is the #1 comic book price guide for tracking sales data of all graded comic books in real-time. Fair market values are now at your fingertips. Check out all the features at www.gocollect.com.

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5 comments

Jay R. June 24, 2020 - 11:09 am

Like with vintage exotic cars: the older a comic gets, the less Restoration matters, is my general rule of thumb. Why? Because attitudes changed more recently, and frankly, if you want some old books you have little choice but to buy a color-touched or slightly trimmed copy. I have Golden Age books that are so rare that essentially only restored examples exist for purchase, and I think that will be true for some Silver Age comics before long, as the hobby expands and more copies disappear into big collections to seemingly never go public again, at least not for many generations.

Bronze Age and newer comics that are restored are just… well, unless you personally want the comic to enjoy and don’t mind being very limited with its selling potential, even at a fire sale discount, don’t even bother. Sure, there are a few exceptions, like a CGC 9.2 restored WWBN 32 that recently sold for ~75% of its unrestored value, or a purple (A1) 9.6 ASM 300 that we recently sold for $500, but they simply prove the rule, as those restored Bronze and Copper sales stand out like sore thumbs.

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RJ Taylor June 24, 2020 - 11:47 am

That is actually a very clever Metaphor.. Many time reading this, I kept saying to myself, “It’s not close to the same thing, but sentence after sentence, I found myself comparing the two , (since I look for newer used cars with salvage titles to flip) and thinking, “Damn, that’s good and he’s right” lol..

I guess the only difference is that most people can only afford 1 maybe 2 cars, (if married or have a significant other)which we need our cars to get around compared to a Golden Age Key Gem, We will be ok w/o it.. lol VERY CLEVER!

I am impressed!

Take Care!

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Jay R. June 24, 2020 - 12:03 pm

I completely agree, they will be worth more, but unrestored examples aren’t an option with some Golden Age comics, and I believe that number will grow by leaps and bounds, even into the Silver Age (particularly for obscure indies and low-print horror titles), as books disappear into vast generational collections and the hobby continues to explode. Some collectors may not have a choice, they either buy Purple labels or they won’t own that title, propping-up demand simply due to scarcity.

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J June 24, 2020 - 12:38 pm

I’m less familiar with Golden Age books than I am Silver. I think you’re right. There simply won’t be an option and because of that scarcity Restored books will become a standard. I’ll be curious to see how this plays out in the next ten years with Silver Age titles. You’d think we’re getting close to most of the good candidates already being graded. Onto the next tier of books then.

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nosh July 20, 2020 - 8:31 pm

Thank you for that great info, I am still new to comics, so that was definitely helpful.

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