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Leo-man
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Everything posted by Leo-man
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Yes. And if that winner is interested in the business after getting to review financials under NDA. If accepted after review of financials...then the winner has to satisfy the other requirements in the terms and conditions. If the winner doesn't want it, I guess he can just keep the application fees and do something else with the store (likely just sell it outright).
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Ha! Many shops can operate without back issues. Challenger's Comics in Chicagon would be a good example of that. One issue could be two other comic shops less then 10 mins driving from this shop. Both of which have been established for 20+ years. And for new releases, one offers 15% off on the day of release without needing a subscription. So if new books are your main focus...you really need to think about how you differentiate yourself from the other shops that are so close to you.
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That's why you have to read closely the terms and conditions. As noted...he is a lawyer. Here's the link to the terms: https://www.chimerascomics.com/win-a-comic-book-store-terms-and-conditions/ Of particular interest are terms, 3, 4, 5, & 6. "Application Fee. The “Application Fee” shall equal twenty five dollars ($25 USD) and is nonrefundable, regardless of whether or not the Minimum Number of Applicants has been reached (as further defined herein). Acceptance. Upon payment of the Application Fee, each Applicant represents that they have read, understand, and accept the Terms in their entirety and agree to be bound by same. Contest Term. The contest shall run from February 1, 2019 through February 28, 2019, or until the calendar day upon which the total number of Applicants equals two thousand (2,000) (such number, the “Maximum Number of Applicants”), whichever is sooner (in either case, such period of time shall be further referred to as the “Term”). Minimum Number of Applicants. The Prize (as further defined herein) shall only be awarded if the total number of Applicants is at least five hundred (500) (the “Minimum Number of Applicants”) prior to the expiration of the Term."
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Incorrect. The minimum to hold the contest is 500 applications. There is a maximum of 2,000 total applications. So if 2,000 applications are received before 2/28...yes the contest moves forward early. But if 2/28 arrives and only 450 applications are submitted, the contest does not happen.
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He will only hold the contest if 500 applications are received. If 400 applications are received...not contest...but the application fees are non-refundable. So, in that instance he would keep the money and not hold the contest. So, there's not a scenario where he is only reading 20 applications.
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Wouldn't it be nice to know ahead of time ... what the monthly lease is, how much are utilities, how many subscribers there currently are and the number of books they subscribe to a month? The winner can't just take everything and immediately sell it. They are required to establish a lease and diamond account. A POS system will not pay your monthly expenses. $5 trades will not pay your monthly expenses. Plus your scope in this town is limited. So, offer all the $5 trades you want ... new people have to come into the store ... not the same weekly customers.
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Totally differently run comic shop. And in a wealthier suburb. Probably about a 40 minute drive from Oak Lawn. One stop has extensive back issues. Last I recall, they have photocopies of the expensive books on the wall and you have to ask to see them. I didn't get the sense that you would find bargins there ... but when you're one of the few deep back-issue stores in or around Chicago ... then there's no need to bargin price.
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Yes. And don't forget about the NDA so all the other participants will never know the truth. And if you read further ... the owner talks about how transparent they are in this contest. I would have to disagree. Plus they are promoting it in some areas as a "Chicago-based" shop. We are talking at suburb outside of Chicago. So that's mis-leading in that you think "Chicago" ... lots of people ... lots of traffic and sales. That is not the case in this town.
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What something is "worth" vs. what someone is willing to pay ... two very different things. Modern back issues (non-key issues) ... little to no value. Trade paper back trades ... not terribly robust at the shop. And all editions that you would find regularly at the 50% bins at cons. Fixtures ... sure value in those ... but very specific. Would have to find the right store in close proximity to sell.
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Be wary... $25 non refundable application fee. Financials will not be shared until a winner is selected under NDA. At that point the winner can decline to accept the offer. Winner must negotiate the lease and establish a diamond account. This shop does not deal in back issues. Bulk of instore merchandise is recent modern back issues and trades. My guess is that they could probably sell the store for $2k - $3k outright. But do a contest that has an application fee. Get the 500 necessary applications and that's way more money in your pocket then selling the store outright. Get 2,000 applications and it's a huge windfall. It's noted that some of the application fee is to pay off debts. This is why it would be important to share financials before getting applications .... unless the application fee was refundable to all. The contest is selling a dream, but does not give people a realistic picture of the business in that area. They had a co-owner to their other store and that was recently dissolved. On his podcast that owner insisted that the last two years of retail were the worst in his life and things were not good for a modern day comic store. Thisnis less Willy Wonka once you start digging into the fine print.
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No...they will not provide additional scans or additional information. It's an issue of volume and man power. They say to look at the grade and their grading standards. I passed because there are some flaws in certain grades I'm okay with and others that I'm not. If you get a book and it's mis graded...I can see retuning it. If you just don't like the flaw...but the grade is accurate to those grading I think you pay a restocking fee.
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Mostly bronze, mostly Marvel - CLOSED - Thanks all!
Leo-man replied to Fan4Fan's topic in Golden/Silver/Bronze Age Only
FF 201 199 197 196 195 194 192 191 190 184 174 172 171 170 169 168 159 154 -
176 and 181.
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JLA 161, 162, 164, 165, 167 And if MR SigS doesn't need or want that JLA 171 freebie...I'd take that as well.
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Excellent seller. Accurate grading and way secured packaging. Thanks much!
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Yep...I purchased a book with eBay bucks that was sold as a 1st print but was a 4th print. I mentioned it to the seller as an FYI to check the books. Didn't ask for a refund as I was ultimately interested in reading the book. He apologized and sent a full refund. I received an e-mail about it ... but it never showed in my account. I had to call eBay and talk to a representative for 25-30 minutes while they made the credit to the account. And yes, it was an eBay bucks certificate with the 21 day limit.
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Purchased around 50 books. Securely packaged and spot on grading. Very happy with the purchase. Thanks!
