sfcityduck

Thanks! I've picked up a run of little known U.S. comics with officially sanctioned C&H covers and am wondering what others are out there. I do know about the unofficial Elementals cover, and I really appreciate you letting me know about this homage cover.

Wow. I guess they are rarer than I thought.

Correct me if I'm wrong, but isn't the only person with a complete DC collection (now that Levine has given up) a woman? Lot of famous female collectors (Maggie Thompson, Michelle Nolan, etc.) and female dealers, so don't know what you're saying here.

Only two ways to avoid the sale tax: (1) Be a dealer and (2) live in a state where you don't trigger the sales tax. Looks like Sotheby's was helping a non-dealer collector pretend to be a dealer. It is going to be a hard sell if the collector has a real business he heads up (which he likely does) and does not advertise himself as an art dealer (which he probably does not). As for option two: I know folks think it is legal to have a dealer in a state that does not charge sales tax act as a "pass through" in the purchase of comics that are located in sale tax states. But, I'm not convinced this is legal. It's one thing for a dealer to buy a comic and then resell it at a profit to sellers down the road. It may be another for a dealer to buy a comic with the intent of acting as a pass through to help a customer avoid sales tax. I think the dealer risks the Sotheby's situation. But, I'm not a tax attorney, so I may well be wrong.

Anyone got a comprehensive list? Thanks in advance!

My view is that comics are way over valued compared to pulps and paperbacks when it comes to cover art. (And don't get me started on the many forms of GGA art!) I also believe that comics are over valued as art that you can display on a wall compared to fine art prints and other comparable limited edition printed art. Comics are also probably over valued compared to movie posters. However, I think they are under valued compared to baseball cards (a total loser of a collectible in my view). Why? Because comics had the best market makers, price guide writers, dealers and fans of any collectible. (There are just more baseball fans.) But, my opinion really doesn't matter. All that matters is the crazy inclinations of a buyer willing to spend big bucks on a deteriorating newsprint publication.

Anyone got a comprehensive list? Thanks in advance!

No offense, but I hate it when folks say a comic book is undervalued. Like fine art and all sorts of other things for which folks get an emotional attachment, comics have NO intrinsic value. They are only worth what someone is willing to pay. The value is set by buyers. So folks who sit in their armchairs, like me frankly, and say I'd pay $1M for that comic if I had the money, can't really opine on the actual value of a comic. The value is based on what folks with money in their pockets are willing to pay. Hence my comment about the one-person pool of buyers at $2M.

The pool of people who have paid $2M for a comic book is one guy, and he's on the sidelines and already has a copy.

Is that much bleed through on the logo normal?

Heritage has given me a reduced Seller's premium. But, the Seller's premium comes out of the bid price as a fee paid by the Seller to the auction house. The buyer's premium is paid by the buyer directly to Heritage, not to the seller at all, and thus is "added on" to the bid price with the label "buyer's premium" in the auction info. Having said that, it is still a fee which, as a practical matter, comes out of what a buyer is willing to pay for a book and should be viewed as part of the seller's consignment fee.

Have any pool of dealers ever paid $1M for a book? I can think of a board member dealer and another dealer who partnered on a mid+ six figure book, but of the small number of books that have sold for $1M, I'm not aware of any that were bought by an investment pool of dealers. Not saying they didn't, just never heard they did.

But, the "buyer's premium" paid by the buyer does, as a practical matter, come out of the seller's pocket. That's why we use the bid price + the buyer's premium as the "value" of a comic, not just the bid price.

Also depends on how you feel about grade. You'll get more bang for your buck with X-Men 1.

As a practical matter: Yes. As a matter of actually making a payment to Heritage or owing taxes on $975K: No.

Start bidding at $1 and you will find out its value without having to worry about it not selling.

It is laddered up by market making dealers who cater to a very rich and deep pool of sellers. Essentially, Metro and HA has served that function for comics, it is just the pool is vastly shallower. Although worth noting that the big leaps in prices for comics came from a Lebanese buyer, and I doubt that we'll see any similar Lebanese buyers in the future.

My apologies for saying you were getting "touchy." But, i think you have misread my posts. I think your view that the book will top $1M is going to be vindicated. I don't think that's a surprising result given the D27 price history. But, I also don't think the previously stated opinions that the buying pool may not be deep enough to support a $1M price were unreasonable. They were a next level analysis that might have support from knowledge that is unknown to you and I. An analysis that takes into account the depth of buying pool is more sophisticated than the "look at the past prices" analysis I'm relying upon. Elsewhere on this site, Gator has been suggesting the "depth of the pool" analysis is the best analysis for predicting the price of the Whiz 2 (my guess is far higher than his). In any event, there's no prize or stakes or boasting rights in this "contest" as to how much this book will sell for. Just conversation that can make us all a bit smarter if we listen.

You are too touchy. No, what I said is that there was a rationale that could cause posters who are more "in the know" than you or I to conclude that there was not a million dollar buyer out there right now. The pool of million dollar buyers is incredibly small. At all times I was embracing the concept that the book could top $1M and based on past transactions I think it would be surprising if it did not. But, I'm not "in the know" on the buying pool. The essence of wisdom is taking into account and factoring in valid viewpoints, even when they may seem at odds.

Damn those posts are wise!