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BREAKING NEWS! Batman #1 CGC 9.0 sells for $300,000!!!

Started by showcase4,

256 posts in this topic

esquirecomics

esquirecomics

Posted
Posted
One way that Heritage, C-Link and other auction houses are able to facilitate a deal like this is to use future consignment dollars from the buyer against a present "sale". On the surface some would see that as a trade, but in fact it is considered a sale by the houses and probably by the tax-man. How would you view it? I still would have to consider it a sale, even though actual dollars aren't changing hands.

 

That's interesting Richard. Does this mean that the buyer would pledge "X" $ future consignments to the auction house thereby guaranteeing a certain amount of funds coming in at a later date (whether by the buyer's or seller's fees and/or the principal)? Am I understanding that correctly?

 

In much the same way that the houses offer a cash advance for consignments, they can offer up inventory. For instance, say someone were to approach C-Link with $100,000 worth of comics. They generally offer an advance in the neighborhood of 80% fmv as long as the consignor agrees to set realistic reserves (or better yet, no reserves). At the time of the auction the balance is made up one way or the other. C-Link offers this interest free, Heritage generally charges interest (unless you are very good at negotiating or have something that is equitable for them in their buyer's/seller's fee structure). Each of the auction houses use some variation of this to entice quality consignments their way. One of the big obstacles to consigning is the large amount of time between placing something in an auction and actually getting paid.

It makes sense that a variation of this could be used for a consignor to purchase a book. The final sale price of the consignor's items would ultimately be used to pay for the original book, so in essence, money would be changing hands, just on paper (no pun intended).

 

Thanks for the elaboration Richard. I am familiar with variations of the above. It can definitely get messy from a tax perspective (or at least the IRS's perspective). There are certainly numerous variations that can be implemented.

 

Assuming something like this is done, i.e., a transaction is not a straight cash deal, how does everyone feel about publicizing the final amount without specifying there was a trade or other arrangement involved? I am not suggesting this is what was done with the Bat #1 as I have absolutely no knowledge of that specific transaction, but I certainly do know of some dealers/sellers manipulating a "sales" price in one manner or the other.

 

My current policy is to indicate only straight cash sales or otherwise disclose that the final amount was part of a cash/trade deal.

As far as I am concerned, an advance against future sales is a cash sale. If books were changing hands with no regard to their sale price then that is something different. But using an advance against sales is no different than getting a loan against your books future sale value, which is no different than getting a home equity loan, or frankly, any loan from the bank. A loan of any type is just a cash advance against future payments.

 

I wouldn't disagree with you on the notion of the advance. Just a delayed payment.

 

I was speaking more to a cash/trade type of deal.

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G.A.tor

G.A.tor

Posted
Posted

 

 

 

 

Hi rick, Of course. I would make that trade in a heartbeat. No doubt in my mind that I can find/buy another Action 1 in above Fine +. A Batman #1 in 9.4 (100%) original would be a treasure. I would have been interested CL's Batman 1 9.0 but I know the history. Nuff' Said.

 

Ps. did you see the 'Tec 29 on ebay?!!

yep, I know it well...it is owned by a fellow board member... I guess I am holding out for your "spare" copy :)

 

if a batman 1 in true 9.4 exists, I am sure you will be the proud owner one day!

I still hit your site once a week, just for humbling experience!

thanks

rick

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G.A.tor

G.A.tor

Posted
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Hi. My name is Eric Roberts. No, not the actor -just a humble collector of comics and art.

don't be a stranger...we "know" you, but don't know you well...this is the place to mingle with other collectors! and you surely have some great treasures to share!

rick

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Ivanko

Ivanko

Posted
Posted
Hi. My name is Eric Roberts. No, not the actor -just a humble collector of comics and art.

don't be a stranger...we "know" you, but don't know you well...this is the place to mingle with other collectors! and you surely have some great treasures to share!

rick

 

(thumbs u

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G.A.tor

G.A.tor

Posted
Posted
are you sayin Eric[the other 6.5 Action #1] roberts is the buyer of the 9.0 Batman # 1????????

no, he is not....he said if he didn't know the history of the book, he would have considered it...but, knowing the history, he did not buy....he is holding out for my 9.4 copy :)

rick

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G.A.tor

G.A.tor

Posted
Posted

Ps. did you see the 'Tec 29 on ebay?!!

 

:hi:

 

I put a mercy bid in just to make you feel like people cared. ;)

 

:acclaim:

I was going to bid, but someone is already pushing it higher than I can go

rick

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Foolkiller

Foolkiller

Posted
Posted
Hi. My name is Eric Roberts. No, not the actor -just a humble collector of comics and art.

 

Eric -- welcome to the boards... glad to see you here...

 

Wish I could even sniff some of the original art and comics you acquire, but it is nice to see one of the great collectors in our hobby c'mon over to the boards.

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1koko

1koko

Posted
Posted

Ps. did you see the 'Tec 29 on ebay?!!

 

:hi:

 

I put a mercy bid in just to make you feel like people cared. ;)

 

:acclaim:

I was going to bid, but someone is already pushing it higher than I can go

rick

 

Not me either.

 

If Steve allows a UK bid hm

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G.A.tor

G.A.tor

Posted
Posted
Hi. My name is Eric Roberts. No, not the actor -just a humble collector of comics and art.

 

Hey Eric :hi:

 

I am a big fan of ALL your GA books. Especially that Tec #29 :cloud9:

 

Thanks for sharing and welcome!!!

:applause:
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