Lightning55

I believe CGC reduced the Dealer discount, making it less attractive for shops to submit for you.

And it's like being between a rock and a hard place if something goes wrong with the order. The shop customer has no standing with CGC, no account, not the recognized submitter. So the Dealer has to relay complaints for mechanical errors, label mistakes, perceived incorrect grades, etc. What a hassle, and for not much money.

On 6/10/2024 at 1:32 PM, Yorick said:

If you sell with a third party consignment service that charges taxes on the sale, then the taxes have already been collected and you would owe nothing.  Correct? 

That is true for State Sales Tax, if applicable. 

Income tax on the earnings is a separate issue. You are on your own for that. 

On 6/10/2024 at 10:19 AM, Math Teacher said:

As I understand it, some of these expenses are not available to you unless you're a dealer. But then, I'm not a tax accountant.

Yes, that's why I said "may be mitigated" and "possible overhead expenses".

On 6/10/2024 at 3:14 AM, shadroch said:

What gain?  The OO gave the book to his son.  

Yes, but it has a gain based on the value at the time of conveyance.

My theory is that somebody is making a gain, either the father from the appreciation, or the son from the zero cost basis and $200 sale.

Certainly we know that it appreciated, and tax is due when "disposed".  I doubt the IRS will interpret it as 2 tax free events, but someone with more specific knowledge will know how that is treated under the tax codes. 

On 6/10/2024 at 2:52 AM, shadroch said:

Suppose the original owner estimates the book is worth $250 and gifts it to his son, who sells it for $200.  

What tax is owed, and by who?

I'm pretty sure you can gift funds to a family member up to X amount, tax free to both parties, but in that scenario, you have already paid the taxes on said funds when you obtained it. 

My guess, in the proposal above, is that the gain is still taxable to you at $250-12 cents.  The son can show a $50 loss when he sells it, to be used against other gains.

I'm not an accountant, but I did sleep at a Holiday Inn Express last night.

The short answer:  If you sell a book for $200 that you paid 12 cents for, you owe taxes on the $199.88 income.

The long answer:  While the above is true, it may be mitigated by offsets such as possible overhead expenses - storage, grading, restoration, shipping, etc. resulting in a lower tax exposure.

Super short answer: Consult a tax professional.

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A 1099 is a reporting document you might receive from a 3rd party, such as a marketplace or consignee. A copy goes to the IRS and the applicable state authority. It alerts them that you made a sale.  Probably an involved party made the sale for you, and since they don't want to pay taxes on the sale proceeds that they have forwarded to you, they fill out a 1099 to indicate who should be paying the taxes on the sale.

If you make a sale directly, there is no 1099, but you are still responsible for the payment of taxes on any profit (as are we all).

It's called a maverick, and is typically ignored. 

It could just be my perception of the photo, but it looks like it is holdered without an inner capsule. 

I don't think the capsule could rotate freely to that degree without hitting a side of the holder, stopping the rotation. Or a corner would be sticking out of the case. That was one thing supporting my "no capsule" theory. And a book without a capsule would of course be much looser in the frame.

Maybe you can see the capsule, and my theory is a big "never mind".

On 6/5/2024 at 8:40 PM, vheflin said:

He gave you some quality snark with that response.

That's possible, or....the photo he sent could be the original photo at full resolution. He's hoping you can get a better look from a better photo.

On 6/5/2024 at 12:50 AM, MattTheDuck said:

I don't want any moths around my comics.

That's an inherent problem with Spellcheck. If you spell it wrong, but it's another valid word, no alert for you. Why can't it just read my mind and AI what I mean??

On 6/4/2024 at 12:15 AM, NewWorldOrder said:

I see so many posts over the years where people are complaining about low ball offers.  I never understood why all of you just don't set a min in the offer level so you never get annoyed.

Or.....grow a pair and auction it all and let the market dictate the price and call it a day.

I get lowball offers all the time. I can't set auto-declines because I don't even have Best Offer enabled. Doesn't deter brain-dead Buyer's from sending unsolicited lowball offers. 

But it's not that big a deal for me. I just copy/paste my templated response..."I don't do offers. Some people can see that, because I don't have Best Offer enabled. Those who can't, I just block so they won't keep making the same mistake."

On 6/4/2024 at 10:53 AM, Martian Manhunter said:

What's up with the massive price increase to grade comics? Its not like plastic is in scarcity.

They had a price reduction for most or all tiers a few moths back. And pressing charge rollbacks, too.

Maybe you mean vs. the prices charged when they opened for business a couple of decades ago. 

Welcome back!

As a general rule, you put the value you want to insure the book for, if it was lost, stolen, or damaged. The amount you would be satisfied with if all goes wrong.

At any time in the process, usually after getting a high grade, if CGC feels it is undervalued, they may move the tier up and back-charge you.

On 5/22/2024 at 9:43 PM, Point Five said:

If it's an older-style holder, you might even be able to get a piece of paper in through the side seams in the outer case and jog the shard out. Worth a shot.

 

This is your best bet. It's worked for me in the past. Also trying to work it to the bottom has proven productive. 

I want a star, so I'm posting. 

On 5/19/2024 at 8:25 PM, mysterymachine said:

There is a lot of sun fade on the cover. Look how much red and yellow is missing on the cover.

Exactly this.

Yellow is the first color to fade, typically. Greens are left to look blue only, orange becomes red only, etc.

On 5/19/2024 at 5:36 PM, JimmyT77 said:

Actually that just reinforces the mystery behind comic pricing.

I suppose that is true.  But it shows a market history of what people are willing to pay for a particular item, which is how Fair Market Value is determined.

Does it make sense? Rarely.

Just go by eBay past sales, or GPA data.  It's not a mystery.

https://www.ebay.com/sch/i.html?_from=R40&_trksid=p2334524.m570.l1313&_nkw=spawn+1+(cgc%2Ccbcs)+9.8&_sacat=0&_udlo=&_sabdlo=&_sabdhi=&rt=nc&_fosrp=1&_ftrt=901&_ipg=200&LH_Complete=1&LH_Sold=1&_dmd=1&_stpos=01757-1235&_sofindtype=2&_osacat=0&_odkw=hulk+258+(cgc%2Ccbcs)+9.6&_samilow=&_frompage=itemsbyseller&_sop=10&_ftrv=1&_samihi=&_udhi=&_sadis=15

https://www.ebay.com/sch/i.html?_from=R40&_trksid=p2334524.m570.l1313&_nkw=spawn+1+newsstand+(cgc%2Ccbcs)+9.8&_sacat=0&_udlo=&_dmd=1&_stpos=01757-1235&_odkw=spawn+1+(cgc%2Ccbcs)+9.8&_osacat=0&_sop=10&_ipg=200&LH_Complete=1&_udhi=&LH_Sold=1&_sadis=15

Somewhere (I don't know where), there is an approximation of how many of any title/issue# are newsstand.  After a certain date, newsstand counts diminish drastically to almost zero.  That is what determines if a book has a higher newsstand value, not the CGC census.

The CGC census in some cases, maybe all cases, does not divide out the population.  And even if it did, the graded quantity has nothing to do with the printed quantity, although they likely follow a similar pattern.

This is known as a "printer's crease", which is actually a misnomer because the crease was likely in the paper stock before it even got to the printer. It is typically disregarded as far as grading goes.

That said, given a choice of buying 2 otherwise identical books, one with a large printer's crease and one without, I would think most people would choose the one without. So there may be a value difference. 

On 5/9/2024 at 7:33 PM, comicFlair said:

I just found this issue it's the Black and White X-men variant with a blue holo. I would guess this one is extremely rare compared to the rest. Do you think cgc will give it the distorted holo note?

I'd say "Without a doubt!", but it's CGC, so luck of the draw.

"As of May 7, 2024, collectors can submit autographed comics for authentication by JSA and grading and encapsulation by CGC in one seamless solution."

"Seams" like it's not working...

Excellent in every way.  Accurate descriptions, large photos to view comics, entertaining banter, good prices, top notch customer service, superb packaging.  What more could you ask for?