#32437
Mon Mar 07 2005 06:02 PM
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There was a point in time I thought a restored globe might be worth 50-75% of a good original's value. Now I'm not sure it's worth much more than the cost of a reproduction. We can debate values all day, but auctions will generally give us a sense of fair value. Recent auctions this year seem to be telling us that a restored globe isn't worth much. The Jerry Winston auction produced hammer prices on restored globes that were much less than his original costs. The Peotone auction this past weekend had an incredible selection of rare, original globes, and many sold for top dollar. The bidder audience included many of the top buyers in the country (in person, on-line and on the phone), yet the restored globes sold for about 10% of a good original's cost, or not much more than a reproduction. Here are some good examples from this past weekend's auction: 1. This original Independent globe in good condition, sold for $4,500: This Pepco Independent globe was restored, and displayed near perfect, selling for $400. I should also mention that this globe would have sold for less, but I was the backup bidder from about $250 up. 2. This Red Hat globe only had ONE lense which had minor paint chips and also had small flecks on the edge of the glass lense. This one original, untouched, imperfect lense w/body, still sold for $3,100, which would reasonably seem to indicate a complete globe in excellent condition should bring $7,000+/-. This Musco Red Hat original globe with metal body and TWO lenses restored, displaying perfect, sold for $700. It would appear that restored globes may not be worth the cost of restoration. Consider also, the following Champion globe had broken lenses (only one was Champion with the car) and fade and missing paint, and it still sold for $175. Is it possible that original lenses may, with few exceptions, be better left untouched...???....and could a globe restoration actually diminish the original unretouched globe's value?? Many restored globes were intially sold for healthy prices at the beginning of this fad, but restored globe resales at auction (with respectable auctioneers and sellers) seem to indicate the bottom has dropped out of this market. What do you think?? ------------------ Ron Bettin 740-774-OHIO(6446) bettin@bright.net [This message has been edited by bettin (edited 03-07-2005).]
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Please - NO offers to Buy or Sell in this forum category
Statements such as, "I'm thinking about selling this." are considered an offer to sell.
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#32438
Mon Mar 07 2005 08:40 PM
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Ron, I think... and this is just my opinion is that Jerry's globes were listed as 10% touched up. There was a lot of talk of there touch being from 10% to 100%. I think people are affraid of them not knowning how much they were touched up... pictures or not. I think that a globe with fading would be worth more than a touched up globe. Let me ask you this... i didn't follow the globes very well but what did the cracked globes do? I think i would rather have an original cracked globe that was repaired than a touched up lens. I know everyone can't afford mint original globes so repaired or touched up globes come next than repop globes. Just my thoughts.
Looking for anything from Hoosier Pete, Platolene 500 and Red Bird.
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#32439
Mon Mar 07 2005 09:42 PM
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My 2 cents,I will never buy a globe thats been touched up when you do your whole collection becomes suspect there was a lot of talk at the Knoxville auction about what globes have been touched up and the % of touch up.I only want positive stories about my stuff not this one is 10% touched up and this sign is the real one.Buy original it pays off. I am tired of hearing everyone can't buy original globes mint or average condition.Read Lonnie Hop's report on the Its A Gas show in PCM 2 guys were selling NOS Sinclair lens sets for $100.00.Many common globes are selling at $140 -$175 complete, single lenses are selling for less. Now of course we all can't buy the high dollar globes,but start with original globes and your globe collection will grow in value.One of the first globes I bought after we moved to Kentucky in 1997 was a Clark for $75.00.BTW it wasn't touched up.Hey buy what you want I do. ............. REX LIKES UNTOUCHED GLOBES
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#32440
Tue Mar 08 2005 05:25 AM
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John - All the globes that went through auction, including the cracked ones, are listed with prices on the Proxibid auction link: http://www.proxibid.com/csi/Catalog.asp?aid=1678
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#32441
Tue Mar 08 2005 05:30 AM
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I am of the opinion that you are correct in your sumation. I also think the same applies to restored porcelain signs.
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#32442
Wed Mar 09 2005 05:50 AM
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John mentioned the amount of restoration that some globes had in the Winston sale. At first they were advertised as 10% or less restoration. That was later corrected and an announcement was even made at the auction. The prices realized for restored globes at that auction were a wake up call. This most recent auction confirmed that restored globes aren't a good investment. At least not right now.
I think part of the problem is some globes have been restored that were too far gone. When you start talking 50%, 75% or even 100% restoration, are you really talking about restoration or reproduction?
Some guys will continue to have their globes restored and thats fine. Current market trends show that they are a tough sell though.
JJ brought up an interesting point about repaired globes. So far the practice of repairing globes that are cracked or broken has been rather limited. I think repaired lenses will be more widely accepted than restored lenses.
Wanted: Gas pump globes:Sinclair & affiliates, IL companies. Ripple bodies. Anything Sinclair, Stoll, Pierce, 4 Bros. http://www.lastgas15.com/
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#32443
Wed Mar 09 2005 07:46 AM
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What about an all metal globe and lenses? I have a Deep Rock that someone blasted and started painting. Should I finish painting or blast it and let it rust? Thanks for your advice.
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#32444
Wed Mar 09 2005 08:00 AM
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Bob: Don't mess around with it - sell it to me for the Keeper's birthday gift. Later . . Jim ------------------ www.T-waysGraphics.com
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#32445
Wed Mar 09 2005 08:18 AM
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IAM ALWAYS BUYING GLOBES THAT ARE FADED OR PAINT LOSS LENES. IF YOU HAVE ANY PLEASE GIVE ME A CALL AT 810 225 1886 THANK YOU CHEESE WWW.BCHEESE.COM
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#32446
Wed Mar 09 2005 08:03 PM
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Lastgas, I believe that as long as the original lense is used [or original material for a sign] it is a restoration, no matter the percentage. What we buy from Vic's or Webers are reproduction or fantasy. I'm not a globe guy, but I would think that a restored globe should be at least worth the investment [cost of the globe plus cost of the restoration.]
------------------ ROD [Mich.]
ROD [Mich.]
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#32447
Wed Mar 09 2005 08:23 PM
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Rod, regarding prices and values, recent auctions are saying differently - restored globes do not seem to be worth the cost of restoration.
The Pepco globe(see above) with original lenses were found (about 8-9 lenses?) by me in PA. I sold them to the restorer who did a top notch restoration on all of them. I believe they resold in the over $1,500 range, and if not mistaken, a globe dealer who frequents the shows, had them for sale $2,000-2,200+/- range. This is the same globe that sold at Peotone for $400 with me as back up bidder from about $250.
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#32448
Wed Mar 09 2005 08:59 PM
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Rod, I don't see how an old lens with 100% new paint can be considered original. I'm a globe guy and don't consider them to be original. No matter, like Ron says they aren't holding their value. Interesting topic Ron. Bob
Wanted: Gas pump globes:Sinclair & affiliates, IL companies. Ripple bodies. Anything Sinclair, Stoll, Pierce, 4 Bros. http://www.lastgas15.com/
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#32449
Thu Mar 10 2005 09:49 PM
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I thought Id put my 2 cents in on this one, Im not a globe guy butI would think that no matter what it is still an original piece and should have value based on that alone. Just because it is restored shouldnt make it worthless. Is a pump worthless when it is restored ? It is the same principal, someone put alot of time and hard work into bringing it back to life again Dave
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#32450
Fri Mar 11 2005 04:53 AM
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Dave, Thats like comparing apples and oranges. Restored pumps are USUALLY worth more than unrestored pumps. Pumps compare more favorably to cars.
Not the same with globes. Its the original paint that gives a globe its value. If you're talking minor restoration of 5-10% of a RARE lens then maybe it adds something. If you're talking 50-100% restoration the value just isn't there.
Wanted: Gas pump globes:Sinclair & affiliates, IL companies. Ripple bodies. Anything Sinclair, Stoll, Pierce, 4 Bros. http://www.lastgas15.com/
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#32451
Fri Mar 11 2005 07:14 AM
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Dave,
At the beginning of this fad, I had similiar thoughts that an original lense should still have value as an original, but auction history is giving us over-whelming evidence that restored lenses are not worth much of anything.
Like Bob said, pumps are different - and auction history proves that also.
We can offer our thoughts and opinions all day long, but accruing auction history is giving us hard evidence the value of a restored globe is not much more than a reproduction, and is not worth the cost of a restoration.
What is important, is that new-comers to the hobby don't become dis-enchanted spending $2,000 on a globe, only to find that can't sell it for more than $400.
If anyone feels strongly that restored globes are a good investment, I have beautiful, very original Sohio Heat 3pc that according to the restorer, had very minor restoration done to it. I paid $950 cash two years ago for it. I'd gladly take a $200 loss and sell it now for $750 and include shipping. That is still probably $300 more than it would bring at auction on it's best day. If I find an unrestored original for my shelf to replace it, I'll sell the restored one for alot less. Email me at bettin@bright.net if of interest.
------------------ Ron Bettin 740-774-OHIO(6446) bettin@bright.net
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