Treasure Hunters Roadshow -- THIEVES !!!

[tabcom]

These guys are fracking nutso

 

They're money robbing thieves. Preying on the poor and elderly.

[InvstmntComcSuply]

You should have mixed in a bunch of drek to see if they would have offered you $25 ea on those too. Or, actually had someone else do it, because they would have probably told you "all or none".

[Designer Toast]

These guys are fracking nutso

 

They're money robbing thieves. Preying on the poor and elderly.

 

Makes you wonder what books they've bought and who else they're connected with.

[tabcom]

You should have mixed in a bunch of drek to see if they would have offered you $25 ea on those too. Or, actually had someone else do it, because they would have probably told you "all or none".

No . . . No . . . No they made it clear to me that $25 ea was the RETAIL Price. They were going to offer me something less. Cuz, you know, they got to make a profit.

[tabcom]

These guys are fracking nutso

 

They're money robbing thieves. Preying on the poor and elderly.

 

Makes you wonder what books they've bought and who else they're connected with.

Heritage?

[Arcade]

A company similar to this one passed through Beaumont about 6 months ago.

They had a full page add in the paper advertising "Top Dollar for rare Coins."

One of our local news stations got together with a local Coin shop and brought in some coins for them to appraise.

The amount of money they offered was way below even half of what the true value was.

Of course the people refused to give a statement on the air, but I thought it was a great idea that the news station bothered to do this.

[Monstro]

A few questions,

 

1. Why would they want to make you an hour and a half? You would think they would want to make that BS deal a quick as possible.

 

2. Just out of curiosity why have you removed labels from the CGC holders?

 

3. What is that cool back board you have your comics hanging on?

 

 

[comicwiz]

Did you ask them what they were worth or did you ask what they would give you?

If you asked what they were worth then they are wrong.

If you asked what they would give you then that is something different!

 

It isn't that cut and dry. These guys are supposed to operate in way that doesn't throw the entire antique market under the bus.

 

Most of the ones I've seen/heard operate very much like a network of appraisal roadies. They are organized as "community" events, and each item you bring in requires a ticket. I believe some place a headcount on the number of tickets for each event, and the maximum of items you could bring (I'm thinking the last one I saw advertised was 4 items).

 

They are supposed to provide you with an appraisal - this is usually the bit where they let you know an auction estimate and insured value.

 

It goes without saying that reputation and variances in the way each company operates is something you should remain aware of before you trust any opinion, however any company that operates outside of the above conventions for operating one of these should be avoided.

 

The "cash for gold" and "gold party" scheme of the one you attended sounds about as slick as the cashman in our neck of the woods:

 

[FlyingDonut]

They claim to have a data base of buyers that dictate the market value. When I requested to be added to the data base, I was told that those in the exclusive data base spend $150,000+ per WEEK!

 

Well, if I can spend $150 and get an essentially liquid six grand, I would spend that kind of dough as well. (thumbs u

[tabcom]

A few questions,

 

1. Why would they want to make you an hour and a half? You would think they would want to make that BS deal a quick as possible.

 

2. Just out of curiosity why have you removed labels from the CGC holders?

 

3. What is that cool back board you have your comics hanging on?

 

 

1. It was a two man operation -- first come, first serve. I got there around 1:20.

2. Comics are raw 3.0-4.0 range. Holders are for decorative display use -- velcro on the back.

3. Back board from the Best of Simon Kirby book that came out last year.

[FlyingDonut]

So, just to be clear - and please note I'm not doubting you one bit, I'm trying to get a handle on the fisting you were about to receive - you brought them Detective Comics 9, 11, 12, and a VG Spider-Man 9, 11, and 14, and they told you RETAIL on those books was $150 total?

 

I'm going to guess true retail on those books is around $6K (being conservative), so they believe retail is 2.5% of that, which means they would probably offer you $50. Nice.

[tabcom]

. . . .They are supposed to provide you with an appraisal - this is usually the bit where they let you know an auction estimate and insured value.

 

They made it clear, on several occasion that they are NOT an appraisal company.

[bronze_rules]

Then when you go to antique stores, they expect $100 for some beat up rat chewed common bronze title. And are absolutely insulted if you want it for a penny less.

 

I went to an estate sale once, It was populated by unsavory characters who looked straight out of a circus tent. They seemed to all somehow know one another, and where slinging and cussing at each other for position in line. One guy literally got kicked out for dumpster diving, as another line member promptly yelled out to the moderator that he was doing so and couldn't stay. I kid you not. And this was in a very high wealth area.

[tabcom]

So, just to be clear - and please note I'm not doubting you one bit, I'm trying to get a handle on the fisting you were about to receive - you brought them Detective Comics 9, 11, 12, and a VG Spider-Man 9, 11, and 14, and they told you RETAIL on those books was $150 total?

 

I'm going to guess true retail on those books is around $6K (being conservative), so they believe retail is 2.5% of that, which means they would probably offer you $50. Nice.

I also flashed an Action Comics #18, #22, More Fun Comics #38 (all in FAIR conditions) and Flash Comics #22 (G) in front of them. It took them less time then it would to stick their hands in my back pocket and remove my wallet to tell me the RETAIL value of the lot was $25 each.

[comicwiz]

. . . .They are supposed to provide you with an appraisal - this is usually the bit where they let you know an auction estimate and insured value.

 

They made it clear, on several occasion that they are NOT an appraisal company.

 

Pretty obvious from what you're saying that I wouldn't expect any different a result from walking into a pawn shop with the books you brought them.

[capt_comics]

Sound like scum

 

Wonder how many people they have stolen from?

 

 

[Gatsby77]

Devil's Advocate here: I'm not entirely opposed to what they did.

 

While _we_ know the offer was laughable, there are likely many who would not, as spending even as much as $25 on an old comic book seems absurd to most of the world.

 

Plus, I would always assume that places like that are generalists and so definitionally would pay far below what a comic dealer would because they _don't_ actually have the specialized knowledge or customer contacts that say...Heritage would. So it may be months (or longer) until they're able to move them: Research, resto check, CGC'ing, advertising, etc.

 

Replace with other esoteric hobbies...rare video games, Pez dispensers, records, Pre-Columbian pottery, etc. if you like.

 

And---as a long-time collector, what I'm willing to pay for books can seem entirely arbitrary. For those books, without a price guide and never having looked up prices for pre-Hero Detectives, _I_ would have offered $200 each, since I don't know the values off the top of my head, have no idea if they're restored or what the demand spectrum is for them, and mess--they're not even Superhero books!

 

Likewise, my last offer for two raw NM- copies of ASM 300 was $20 a piece. Was that equally laughable? My presumption was I could sell them for $50 a piece (plus postage) with about 30 minutes of total work.

 

Dealers are absolutely entitled to offer 20% (or less) of FMV---1) you're in no obligation to sell, and 2) if you want more, do the research, legwork, etc. to find the right audience and move them yourself. Here, some of us assumed it was 2% of FMV, but the average pawn shop dealer might have assumed they were offering 10-20% of FMV.

 

This is okay to me not just because they need to cover overhead but also because I think of collectibles specialists as consultants who should have their acquired expertise built into their flipping price--just like lawyers or accountants.

 

 

 

 

[Monstro]

A few questions,

 

1. Why would they want to make you an hour and a half? You would think they would want to make that BS deal a quick as possible.

 

2. Just out of curiosity why have you removed labels from the CGC holders?

 

3. What is that cool back board you have your comics hanging on?

 

 

1. It was a two man operation -- first come, first serve. I got there around 1:20.

2. Comics are raw 3.0-4.0 range. Holders are for decorative display use -- velcro on the back.

3. Back board from the Best of Simon Kirby book that came out last year.

 

 

Did the other people in there trying to sell stuff to them seem like they had anything of value?

 

If it we're me, and i had 20 people in there with a bunch of junk when you walked in with your collection I would have moved you to the front of the line.

 

Is there any chance the didn't know what they we're looking at, (your books)?

[Gatsby77]

Pretty obvious from what you're saying that I wouldn't expect any different a result from walking into a pawn shop with the books you brought them.

 

Sorry--that was the main point of my post above, stated much more concisely. If you go to a generalist, expect non-expert (rip-off low) pricing.

[jjonahjameson1]

A company similar to this one passed through Beaumont about 6 months ago.

They had a full page add in the paper advertising "Top Dollar for rare Coins."

One of our local news stations got together with a local Coin shop and brought in some coins for them to appraise.

The amount of money they offered was way below even half of what the true value was.

Of course the people refused to give a statement on the air, but I thought it was a great idea that the news station bothered to do this.

 

Hey, Arcade, is Comics Kingdom still around (near Phelan Ave?)? Been a while since I was down in South East Texas!