And the winner is....

Detecting your actions

OK! Records were broken. Action Comics #1 fetched an Amazing one million dollars. It almost has the ring of Michael Myers playing Dr. Evil as he wants to hold the world hostage for One Million Dollars?(fold and rub hands together here). I can also hear the henchman say that?s not that much. Then in less than a week Detective Comics #27 sells for a little over one million dollars. That little bit was Seventy Five thousand and five hundred dollars. Do you know how many comic books I could buy with that?

I imagine (and of course I am sure that this image is highly improbable) that the person who bought the one most likely bought the other. That is Two million plus dollars (and here I thought $3.99 a book was steep). I have trouble fathoming that amount let alone having it lying around for two comic books. Of course I might be able to understand it a bit more if I were a greater DC fan.

There are two types who would spend this type of money. The first type is the serious fan type. If this person is a fan I have one question?is he (or she) going to open it and read it. Sure CGC will discount the price to reslab the book but what if coffee is spilled on it during a leisurely reading or what if CGC mis-graded it the first time and re-grade it as they re-slab it (remember they can do that) and place a 7.5 as the new official grade. Of course if you are spending that much money on a comic book then I have to believe they will have (or had) no trouble getting a second copy to read.

That was my initial revulsion when I first saw a slabbed book. I couldn't figure out why someone would pay a premium price on a book they wouldn't open up to read. I read every single book I bought, sometimes twice. Currently every slabbed book I have, I also read. However, I have noticed lately I started to look at other books I don?t currently own (or have ever owned) and try bidding on them. I recently lost out on Rom Annual #3 in a 9.8 with white pages. The cover called to me. It was most likely the little faces in the lower right hand corner advertising the New Mutants. I will look for another copy in a 9.8 (or maybe even a 9.6, they are considerably cheaper). Of course now I am going to have to look for a copy to read.

The other reason to purchase such a book is for investment reasons. The person who originally purchased Detective Comics #27 did so over forty years ago at the hefty price of one hundred dollars. Maybe then Michael Myers (sorry Dr. Evil) could appreciate how much a million dollars could really get you. A hundred dollars was a lot though, especially for a four color book. I sit trying to consider the mark up on this investment, we are talking over a million percent return (any finance wizards out there could help me out on this.) When these books are sold again (and they will be sold again) might not fetch a million dollars. Other comics in this grade could surface making the rarity of owning one of these books to be less of an honor. Not to mention to get the same return investment that the book would have to fetch somewhere in the one trillion dollar range (there you go Mr. Myers/Dr. Evil). (Once again finance guys help me out here).

I have purchased a few CGC books that I spent more than I wanted too (and even more than I should) but I am happy with them and have no desire to sell them (at this time) and I hope that whoever did purchase them enjoys owning them as a collector rather than selling them as an investor. Now just let me know when an Amazing Fantasy #15 or Fantastic Four #1 hits that illustrious million dollar mark and maybe then I will be a bit more awestruck.

Thanks for reading.

Tnerb

Ps. (my second Ps) This Ps is written some weeks after the initial journal, (I do have to post these quicker) and as I am rereading before I submit, I knew the eventuality of one of the books would resell if it was an investment, I just had no idea they would resell so quickly.) I just read in today?s (3-30-10) Philadelphia Daily News that the same Action Comic?s #1 that sold for the million dollars just sold for 1.5 million. Take that Batman.

PPs. I really have to double check the local paper here. It was reported that it was the same copy but alas it was not. This copy was graded an 8.5 by CGC. Either way that is another $500,000 for a half point.