Comics - Recession proof or not?

[Shark]

Thought I'd start a thread about comics and the recession. Are your plans to continue to buy/sell comics as you normally would or are you expecting to buy less and (try to) sell more because of the recession? Do you anticipate any prices realized going down because of the recession? I don't know about you guys, but the overall cost of things like gas, natural gas and food have put a big strain on my comics budget. Right now my comics purchase budget consists only of that money I obtain from selling comics I either don't want or have duplicates of.

 

Let me know your thoughts. Thanks!

 

Mike

[nearmint]

If deals arise within my focus of collecting, I'll be there to snap them up.

[joe_collector]

Obviously, we're going to see more books entering the market, but it remains to be seen how deep this will cut.

[G.A.tor]

I am actually hoping that more quality material continues to the market, whether driven by recessionary fears, or just the general nature of buying and selling comics ...but, if the current clink, or heritage or upcoming comicconnect auction early bidding is any indication, I would say a little of both are probably evident (some selling because they feel that they have to versus wanting to, and some buying because they perceive some bargains or just because they would be buying anyway)...

 

those that worry, and bail, will have no problem finding buyers that are looking for potential bargains, or just looking to continue to fill in, as nearmint pointed out, their collecting focus...

 

everything is cyclical...what is up today, is down tomorrow, and so forth...so, if one is financially sound, I can't see where buying a book today is any more of a risk than buying it yesterday or tomorrow as long as you are comfortable with the price you are paying at that particular point in time...

just my thoughts

[joe_collector]

...so, if one is financially sound...

 

That's a huge "IF" these days.

[Wally's Comics]

I don't know about you guys but it's felt like a recession

in the US economy since 2000...

 

This could be on par for being one of the longest economic burbs

in history.

 

 

 

 

 

[Shootydog]

Its no different than any other times. I will buy what I can afford when I can afford it. They are only comic books after all.

 

I always make adjustments where they will have the largest impact. Recently sold my Tahoe for a Minivan...saving a lot of money on gas and a smaller car payment. Used some creative math and a brilliant wife to lower our house payment (she knows thing...scary things..about money). Told DirectV to take a hike, etc. Mostly not because I cant afford it..I choose not to afford it.

 

My comic budget isnt large enough to really consider making a dent so it will probably remain the same.

[Fan4Fan]

In any event, comics make good kindling!

[Count]

I have to slow down...I must force a recession on myself. Since I started collecting again it's pretty much been non stop. At this rate I will have to re-mortgage my house...

 

If a good deal comes up it's just so hard to pass up :shrug:

 

 

[G.A.tor]

...so, if one is financially sound...

 

That's a huge "IF" these days.

that is unfortunate...everyone I know, that collects comics as I do, is financially sound, so in my little microcosm of collector friends, we are all ok (at least on the surface)... I personally have to consider comics, in financial terms, as "disposable"...both in terms of what I spend on them/have spent on them, and what would I do if, worse case scenario, they suddenly (or over the long haul), litterally became "worthless" to the masses... knowing that it won't affect me, or my family, or my ability to provide for my family, allows me to collect with great joy, and to sleep easy at night (but I would be remiss and naive if I didn't say that it would really "stink" if the doomsday scenario ever played out...or, I guess it could be the best thing ever, if I could pick up books that I never thought I could ) ...

 

I would hope that many follow that simple rule of thumb that if you are a collector (not a dealer, etc), just spend that which you can afford to loose (ie never buy on credit, etc) and this hobby should remain, to some degree, vibrant and healthy and more importantly, fun!

[Stronguy]

Thought I'd start a thread about comics and the recession. Are your plans to continue to buy/sell comics as you normally would or are you expecting to buy less and (try to) sell more because of the recession? Do you anticipate any prices realized going down because of the recession? I don't know about you guys, but the overall cost of things like gas, natural gas and food have put a big strain on my comics budget. Right now my comics purchase budget consists only of that money I obtain from selling comics I either don't want or have duplicates of.

 

Let me know your thoughts. Thanks!

 

Mike

 

Recession? There's a recession? When did this happen? There is some softening in some sectors, there's even talk that a recession could occur (which is normal coming off of the red-hot economy we've had for the past 5 years). But there is no recession right now.

[Comicdey]

I'll be buying more and higher grade higher dollar books if they start becoming more readily available at lower price points. The main thing is to remain focused and not do it for a potential windfall later. I'm more than willing to help those less fortunate with their house payments and to purchase food. I become too attached to these silly things.

 

 

[G.A.tor]

Thought I'd start a thread about comics and the recession. Are your plans to continue to buy/sell comics as you normally would or are you expecting to buy less and (try to) sell more because of the recession? Do you anticipate any prices realized going down because of the recession? I don't know about you guys, but the overall cost of things like gas, natural gas and food have put a big strain on my comics budget. Right now my comics purchase budget consists only of that money I obtain from selling comics I either don't want or have duplicates of.

 

Let me know your thoughts. Thanks!

 

Mike

 

Recession? There's a recession? When did this happen? There is some softening in some sectors, there's even talk that a recession could occur (which is normal coming off of the red-hot economy we've had for the past 5 years). But there is no recession right now.

economists generally don't define a period of recession until either deeply in one, or after the recession occurs (based on minimum of 2 quarters of consistent economic data that meet the "recession" criteria)....that said, we are clearing in, at the very minimal, a growth recession, based on the last 6 months of reported economic data (I certainly won't bore with details, unless someone really wants to know...but you can easily google the indicators)...how deep of a recession we realize, is still yet to be determined (the stimulus package should assist, but not sure it is "enough")...the Fed will continue to try to monitor and react to inflationary fears, the tax cuts to try to get small business to hire, etc...all will have an impact, but one we generally can't quantity till "after" it happens

[seank]

what would I do if, worse case scenario, they suddenly (or over the long haul), litterally became "worthless" to the masses... knowing that it won't affect me, or

 

 

I think, for the most part, comics ARE worthless to the masses. There's an idea out there that they are worth money, but that value is only real within our comic circles. Most people I know wouldn't pay $$ or $$$ or $$$$ for a comic book.

 

Comic book money comes after house, food, bills, clothes, and other practical expenses.

[nearmint]

NEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke and Treasury Secretary Hank Paulson both acknowledged problems in the U.S. economy on Thursday, but both said they believe the nation will avoid falling into recession.

 

In prepared testimony before the Senate Banking Committee, the head of the central bank and the Bush administration's point man on the economy said that steps taken already this year will be able to keep the economy moving forward despite the continued downturn in housing and troubles in credit markets.

 

"At present, my baseline outlook involves a period of sluggish growth, followed by a somewhat stronger pace of growth starting later this year as the effects of monetary and fiscal stimulus begin to be felt," said Bernanke in his opening statement, referring to a series of Fed interest rate cuts and a $170 billion tax rebate and stimulus plan signed by President Bush Wednesday.

 

But Bernanke conceded that banks are getting tighter in their lending standards, the housing and home building markets are likely to weaken further and the labor market may be softening.

 

"More-expensive and less-available credit seems likely to continue to be a source of restraint on economic growth," he said.

 

The Fed last month made two deep rate cuts: three-quarters of a percentage point at an emergency meeting, followed by half a point eight days later.

 

Bernanke said Thursday that the Federal Open Market Committee, its rate-setting body, was ready to act again if further economic reading justify it.

 

"The FOMC will be carefully evaluating incoming information bearing on the economic outlook and will act in a timely manner as needed to support growth and to provide adequate insurance against downside risks," Bernanke said.

 

Economy is 'fundamentally strong'

 

Paulson echoed frequent comments he's made in recent weeks that he expects slower growth but no recession, even with the problems faced by the economy.

 

"The U.S. economy is fundamentally strong, diverse and resilient, yet after years of unsustainable home price appreciation, our economy is undergoing a significant and necessary housing correction," he said. "The housing correction, high energy prices and capital market turmoil are weighing on current economic growth."

 

A number of closely watched economic readings in recent weeks, including the January jobs report and the reading on business activity in the service sector, have convinced a growing number of economists that the economy is already in recession.

 

Senate Banking Chairman Christopher Dodd, D-Conn., opened the hearing by saying that the economy was at the greatest risk of any time since the Sept. 11 terrorist attacks. He said further steps need to be taken, adding that the slowdown is due to a crisis of confidence among both consumers and investors.

 

Dodd was critical of some of the Bush administration's housing efforts, including the freeze on foreclosures announced this week by Paulson and some of the country's leading mortgage lenders.

 

"It is a lifeline more to lenders than to borrowers in my view," said Dodd.

 

Sen. Richard Shelby of Alabama, the ranking on the committee, also said he's concerned about the state of the economy and pointed out that surveys show economists believe the chance of a recession now stands at close to 50-50.

 

"One thing that is now clear to all of us is the subprime mortgage problems are not contained," said Shelby.

 

Shelby said he had doubts whether the stimulus package would prove to be effective.

 

"Even if every consumer spends their $600 tax rebate, I've equated it to pouring a glass a water in the ocean and expecting it to make a difference," Shelby said. "I hope I'm wrong." To top of page

 

[evilsly]

the über high grade 9.8+ market will be the most vulnerable.

 

the über key books will always have a market.

 

Common books valuable only because of the slab label are the books most likely to suffer first.

 

 

[ArAich]

Thought I'd start a thread about comics and the recession. Are your plans to continue to buy/sell comics as you normally would or are you expecting to buy less and (try to) sell more because of the recession? Do you anticipate any prices realized going down because of the recession? I don't know about you guys, but the overall cost of things like gas, natural gas and food have put a big strain on my comics budget. Right now my comics purchase budget consists only of that money I obtain from selling comics I either don't want or have duplicates of.

 

Let me know your thoughts. Thanks!

 

Mike

 

Recession? There's a recession? When did this happen? There is some softening in some sectors, there's even talk that a recession could occur (which is normal coming off of the red-hot economy we've had for the past 5 years). But there is no recession right now.

 

 

That 4.5% unemployment is killing us!!!...

[G.A.tor]

what would I do if, worse case scenario, they suddenly (or over the long haul), litterally became "worthless" to the masses... knowing that it won't affect me, or

 

 

I think, for the most part, comics ARE worthless to the masses. There's an idea out there that they are worth money, but that value is only real within our comic circles. Most people I know wouldn't pay $$ or $$$ or $$$$ for a comic book.

 

Comic book money comes after house, food, bills, clothes, and other practical expenses.

true, to the general masses...I should have qualified my statement to mean the

comic collecting masses (thumbs u

[G.A.tor]

Thought I'd start a thread about comics and the recession. Are your plans to continue to buy/sell comics as you normally would or are you expecting to buy less and (try to) sell more because of the recession? Do you anticipate any prices realized going down because of the recession? I don't know about you guys, but the overall cost of things like gas, natural gas and food have put a big strain on my comics budget. Right now my comics purchase budget consists only of that money I obtain from selling comics I either don't want or have duplicates of.

 

Let me know your thoughts. Thanks!

 

Mike

 

Recession? There's a recession? When did this happen? There is some softening in some sectors, there's even talk that a recession could occur (which is normal coming off of the red-hot economy we've had for the past 5 years). But there is no recession right now.

 

 

That 4.5% unemployment is killing us!!!...

(but, that supports a growth recession, perfectly!)

[joe_collector]

that is unfortunate...everyone I know, that collects comics as I do, is financially sound, so in my little microcosm of collector friends, we are all ok (at least on the surface)...

 

That last part is right on, as you never know what someone's financial situation is like until you open up their books.

 

My wife watches Til Debt Do Us Part all the time, and are some scary scenarios on there - just regular people, hundreds of thousands in the hole, and bleeding red ink daily. One was really bad, it was a pair of doctors making more cash than the majority of the board, and they were something like $6 million in debt. They just spent like drunken sailors and were about to be buried.

 

But on the surface they looked great, high wage earners, big house, luxury cars, private schools for the kids, but millions in debt.