Grading Items

One of the things that influence the price of an object the most is the condition of the item. Unfortunately it is also one of the areas where peoples opinions differ the most. If you have a buyer and seller appraise the same item they will probably come up with two different conditions and prices. This is due in part to the highly subjective standards that are out there and in part to greed. A seller wants to rate the item as high as possible to get a higher price while the buyer wants to rate it lower to get a bargain. The best way to avoid this is to try to be honest when you see a new object and avoid rushing to buy. A lot of collectors regret buying that special item later because of the condition. When you are standing over that teapot you have been looking for for a long time it is hard to be objective about a few "minor" flaws! The thing to remember is that almost all items are mass produced so there are literally tens of thousands of them out there-it can just be a challenge finding one.

Currently there are two grading systems in use. Both are fairly close to the same standards and for most purposes can be combined into one. A good way to learn the system is to sit down with some of your own collectibles and rate them. It is easy to give the item a high rating-we all want our stuff to be the best. However the truth is that almost all items are going to be less than mint. Also be aware of some dealers tendency to rate antiques higher because of their age. Age may add value to the item but it should have nothing to do with the condition. So when you see a sign saying "Mint for its' time!" or something similar beware. For the most part dealers only grade on the even numbers, C10, C8 and C6 or Mint, Excellent and Good.

Grading Terms:

MIMB/C10: Mint In Mint Box. This means that the item is new and the original box is undamaged too. This is rare in most cases due to shelf wear and handling.
MIB/C10: Mint In Box. This means the item is brand new in the original box. Usually it will only have been removed to take a picture to sell it. The box is not neccessarily new though.
MIP/C10: Mint In Package. This means the item is brand new in the original package. Usually it will only have been removed to take a picture to sell it. The package is not neccessarily new though.
MWMT/C10: Mint with Mint Tags: This is basically a Beanie collectors term but it has started spreading into all tagged items. The item and tags are brand new.
Mint/C10: The item is new but with no package. If there is anything at all wrong with the item it cannot be mint.
Near Mint/NM/C9: Item shows extremely minor wear but is not perfect. The wear should be unseen when on display.
Excellent/EX/C8: Item that is complete but that has minor wear from play. Must be clean. Any chips or dings should be unseen when on display.
Very Good/VG/C7: Obvious signs of wear and play. Some minor paint chipping, minor rust or minor missing parts.
Good/GD/C6: Signs of heavy play, dents, dings, chips and rust.
Anything in worse condition than this is generally considered uncollectable unless it is a very rare item.