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COI

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Posts posted by COI

  1. On 3/28/2024 at 3:58 PM, Stefan_W said:

    CGC states directly that all books are evaluated by more than one person. Having more than one person look at a book is their normal process. 

    I get that. Matt Nelson said that in a case like this, more people weigh in than is usually. His point was that decisions like this aren't made through the normal process because they're unusual. It's a major key, where the difference in grade could mean hundreds of thousand of dollars, and this is the first 9.9. I think it's more far-fetched to believe something like this would just go through the normal process.

  2. On 12/9/2023 at 3:54 PM, VintageComics said:

     

    Very successful people don't tell you what they're really doing, because of they did everyone would be doing it and they'd be out of business. I also don't think their sole goal is to be popular on YouTube because that's not nearly as profitable as being successful in business, so this video is probably being used primarily as a vehicle to promote their business. If I was putting out videos this is exactly what I'd be doing. 

    Fun to watch, and I feel for people who lose in a down market, but I wouldn't be starting a donation thread for them or anything. They guy's dad was a very successful dealer, remember. 

    And we ALL liquidate assets to make life changes. I sold my Timely, Fawcett and Baker runs which were very precous to me, to expand my business. That's just real life for small to medium sized businesses. I don't think I complained once about it. 

     

     

    A few things:

    Saying it's not as profitable to be a youtuber as it is to be successful in business is weird on its own, because there are people who make ridiculous money on youtube and having a youtube channel IS a business, so I don't understand the distinction. Maybe there isn't as much money in being a comic book youtuber, but he's using youtube to market his business and I don't see an issue with that.

    Apparently it's a bad thing that's he's trying to build an auction house...because reasons. He's not complaining in the video; he's explaining why he's selling stuff that in prior videos he said he was planning to hold. Considering how rare it is for anyone to ever admit to being wrong about anything, I think it's refreshing for him to come out and talk about losses. It's very clear that on the internet, you can never 1) admit you're wrong or 2) apologize because it will always be taken as cynically as possible.

    So all I see here is either schadenfreude, or people jumping to judgment without watching the actual video. Or maybe people don't like him because of who his father is. I don't know, but I don't see people calling out Vincent Zurzolo quotes for all the carnival barking he does about investing in books. Of course you're going to believe in and push the thing you're investing all your time and money into.  

  3. On 12/9/2023 at 7:42 AM, Pontoon said:

    To piggyback on this a little and thinking about the Promise Collection resale losses, I would imagine that the majority of folks who are buying $20K comic books have a *lot* of discretionary income as opposed to some fellow who has just $20,500 in the bank, and that buying a book at $20K and selling it months later for $15K doesn't feel to be as big a haircut as it would for the average collector.

    I'm sure that's true sometimes, and other times I think dealers/collectors over-extend themselves and need to free up cash.

    I've never understood trying to ascribe motives or specific rationales to the buyers behind the numbers, when we have no clue who they are most of the time. I understand the reasoning that someone in a position to spend five or six figures on comics MUST have some sort of 'bigger picture' plan in place, because for most of us average folk, the idea of casually throwing the average middle-class yearly salary on a book impulsively seems absurd. Yet, we see the evidence of people making horrible decisions with large sums of money all around us, including people who 'should know better'. *cough* NFTs *cough*

    Being good with money isn't a necessary condition to having it; there are wealthy people who are also impulsive and wasteful, just as there are poor people who are frugal and resourceful. When I see someone lose $10K on a book, I have no idea whether they also made $15K on another book in the same auction, or if they're going to be using the proceeds from that book to stave off foreclosure. Neither would surprise me.

  4. On 12/7/2023 at 3:57 PM, VintageComics said:

    The REAL problem is the premiums people are paying for White pages and highest graded. When those two things match, the gloves come off. 

    I'd much rather own pay less for an OWW book with a slight miswrap than pay a massive premium for a perfect White pager. 

    When you're buying labels and not books, might as well go all the way with it.

  5. On 12/5/2023 at 12:28 AM, DC# said:

    This one will be a fun to watch.   Lots of amazing books coming up in the Jan Signature auction at Heritage    Superman 1 and Batman 1 in 7.0, Showcase 4 9.6, Hulk 1 9.2, even a House of Secrets 92 in 9.8

    IMG_3784.thumb.jpeg.ab2988725b8335a348ee28703759b9c4.jpeg

     

    Interesting. Especially considering who the current(former?) owner is(was?). Wonder if some big-timers are cashing out?

     

  6. On 12/4/2023 at 7:37 PM, mjoeyoung said:

    I agree with you that the market isn't a monolith, but I disagree that you cannot draw conclusions about the overall market as a whole from a portion of the data.  The data shows you where the overall market is trending. You don't need to know EVERY variable to see a trend, just the ones making the most impact. It lets you make an educated guess about short term values.

    Though it is only possible to show a portion of the data in this forum, any comic that you individual search on the GPA gives a pretty good snapshot of what is happening across grades.

    gpatitle.thumb.png.8c8e103b53c1625b2aeef48d11afc15e.png

    as21portion.thumb.png.bbbe50d01f4185de58e81d2ef9b8a296.png

    Even in this image I cut off the bottom and top and didn't show signed, qualified or restored books.

    From the main page you can click on each grade and see a list of every sale in chronological order for every year.  The data for 6.5s goes back to 2002.

    When you start seeing results like this on almost every book you look up, you can start to form a conclusion.

     

    So far, some portions of the market have been immune from the downturn.  Can I make an educated guess, based on the data, as to whether this will this continue?  I think I can.

    If you look at GA books where there is enough available data, like some PCH and the Frazetta Famous Funnies, you can see that a lot of the runup in value coincided with, and was just as extreme as, the runup in SA, BA, etc. Is there something fundamentally different about this segment that would let it escape the forces affecting the broader market?  There is a smaller supply and it is possible the allure of GA has increased the population of collectors and therefore demand.  Are all these new collectors or investors going to stick around?  With a downward trend in the overall market, my guess would be no.  I think these segments are as close to a "top" as you can get.  Can prices go up from here? Of course, but what is more likely?  I think if you are buying here, you are more than likely paying a higher price, than if you waited.  At worst, I think values are going to plateau.

    For example, CGC #3765241007, a 3.0 graded copy of Famous Funnies #213, sold for $2k in 2021, and then $4300 in 2022 and finally $3305 in 2023.  The 8.0 grade, after skyrocketing from $6K in 2018 to $20K in 2022, sold this year for $19K.  This book looks to have peaked.

    I don't really disagree with anything you're saying. I think my main point, which I don't think I was clear about, is that this hobby is so segmented that no matter what conclusion is drawn from any particular set of data posted, someone will inevitably chime in with sales of different books or maybe a different strata of similar books to counter that drawn conclusion. If you look back in this thread, it has happened over and over. That's where I think the discussion is mostly moot. There are so many different books and data points that you almost have free reign to make any kind of argument you want to make about the state of the market. When low grade copies of a certain book are down, people will point to high grade copies not getting hit as hard. Sometimes it's the reverse, where the 9.8 tanks, but low grade copies are humming along. Low grade BA keys, as an example, is a different segment than high grade bronze keys; high grade bronze keys, I would argue, is then an all together different market than top census/9.8 BA keys, and so on.

    So you can see patterns and trends, and certainly the ocean of red we've been seeing in DC#'s charts can tell us something, but it's also really easy to both generalize AND to get overly granular in our assessments. Then you add layers of confirmation bias on top of that, and the conversations go off into the weeds. Hence the never ending back and forth, with people either complaining that the books they're trying to buy are still strong, or the books they're selling are all going to 0.

  7. The market isn't some monolithic thing that you can encapsulate with some perfect set of books or data; it's heavily segmented. Just the fact that we're sticking to certified books here ignores probably 80% or more of comic sales. Sales data is best used to track the prices on individual books at specific grades, mostly certified to get some sort of consistency; collecting data on a range of books and trying to draw a conclusion about the market as a whole just doesn't work, because there are too many books and too many variables surrounding those books. Even when you're talking individual books at specific grades, there are other variables like the venue they're sold in, page quality/eye appeal, etc. And when you get books that trade only a few times a year or even less frequently than that, you can't really conclude much of anything about "the market". 

    That said, I still like looking at data, and I appreciate everyone's efforts at compiling it here. 

    Data I would love to have is how much of the market is buying for the long term vs the short term, but that would be impossible to gather. I tend to be less concerned with prices falling as I am with how often books trade hands. It's telling to me that there has already been enough turnover on the Promise Collection to track 1 million in losses. If you want long term health, you want to see as much 'buying for keeps' as possible. 

  8. I've said this many times, but long time collectors get overly fixated on their perceptions of supply.

    Firstly, books like Hulk 181 with high value and turnover are going to have tons of ghosts on the census, so number crunching on that basis doesn't work. All that really counts is what is available on the market at any given time. 

    Secondly, the availability is already factored into prices. It's not that a book as "common" as Hulk 181 sells for way too much, it's that it would sell for way more if the supply were constrained. If Hulk 181 were as scarce as Hulk 1, it would be a 7 figure book in high grade instead of being a low 5 figure book.

  9. On 11/25/2023 at 7:07 PM, VintageComics said:

    I knew we were close and glad we can finally meet on common ground. (worship)

    Following the string of conversation, we both agree that conflict is not desirable.

    So now, in regards to your quote which I bolded above, I agree with you that it's hard to 'delineate' or be 'black and white' about everything but again, on a spectrum, using extreme examples it's not THAT HARD to figure out when there's a clear pattern of behavior that rises above the noise, is it? 

    And that's what I'm specifically addressing, because we were talking about Kav. (obviously, we started talking about Kav, but I can also speak from my own personal experience and I'd also add RMA into the mix) We're polarizing personalities that drew heat on us, were constrained or resisted in similar ways by turning down our ability to speak out, and I think 3 of us more or less generally agree that those ways weren't done objectively or fairly, in the sense that others were still allowed to carry on their end of the conversations.

     

    We all have different experiences and temperaments, so I can only really speak to mine. When I'm having issues with people, I just don't expect any sort of moderation to make things right or even be consistent. That's not to say they can't, I'm just not holding my breath. I'd rather be proactive and focus on myself and my own behavior.

    When the room is turning on me, I try to figure out exactly what it is that people are trying to say. That doesn't mean I have to agree, but I can at least address the issue when we're clear about what the issue is. As opposed to getting defensive and doubling down. And that has served me well. I can be pretty argumentative, but as far as I can tell no one has held any grudges in 20 years on here. If they have, they're keeping it to themselves.