So what is a Detective 27 in 8.0 worth?

[tonytiger]

Now that the Detective 27 in 7.5 sold for $550,000 plus the buyer's premium, what is an 8.0 worth?

 

And how does Detective 27 compare to Action #1?

[Flash105]

It's hard to say. How many buyers are there in this stratosphere. Two big rollers are off the market. The question is if the other 7.5 and 8.0 were shaken out of the bushes would they hit these numbers. We would need at least three more big spenders.

[Peter Loves Gwen]

So who is buyer 7116?

[Flash105]

A potential soulmate

[KryptoSpidey]

$657,250 is the total...

[G.A.tor]

A potential soulmate

[VintageComics]

Now that the Detective 27 in 7.5 sold for $550,000 plus the buyer's premium, what is an 8.0 worth?

 

And how does Detective 27 compare to Action #1?

 

Did you miss that a Detective #27 CGC 8.0 sell for $1.075 MIL a few months ago?

[Flash105]

I think he means what is it worth now.

[comicdonna]

It's worth whatever someone is willing to pay for it. If it's an auction book, it takes at least two people to determine the value.

[Flash105]

Which makes these high dollar books problematic as Gary Keller has learned. It takes two to tango.

[VintageComics]

I think he means what is it worth now.

 

Probably still worth the $1.075 MIL unless someone decides to pay more or less for one.

 

I don't think it affects the price of the last sale at all. More like the opposite is true.

[bluechip]

It's worth whatever someone is willing to pay for it. If it's an auction book, it takes at least two people to determine the value.

 

Which is why the auction format is not always the best format. The high bidder might have been willing to go 1.5 mil for that copy. In an auction format, the price is never higher than one increment more than the second highest bidder is willing to go -- on that particular day in that place. And you can never be sure that a third bidder who willing to go higher was uninterested or unavailable for some reason on that day in that place, and it might be a different story on a different day.

 

If you had an identical copy, you might want to offer it to the underbidder, who already demonstrated they were willing to pay nearly a mil. Unless of course you present the underbidder bid with a heretofore unknown identical copy and the underbidder says they bid that high thinking there were X known copies and isn't quite as interested now that he knows there is at least X+1.

 

Then again, record breaking sales tend to redefine what people expect an item is worth, because now they have additional info.

 

Short answer -- you can't put a hard figure on it. You can only extrapolate what is likely, what is possible, how many people are out there who might agree wth the number you'd like to put on it, and how much effort you're willing to go through (or how much profit you're willing to share) in order to go about finding those people.

[Forbush-Man]

If it were to sell today, $700,000.00 to $1, 075,000.00+. Recent sale set the bar at $1,075,000.00, but would it repeat? Would depend on how many deep pockets are looking to jump in.

 

I'd say it is safe to say that if the buyer of the 8.0 holds the book for 3-5 years, they will get a nice return on their investment when they sell.

 

I would think if an 8.0 were to go to market, we would see a pretty close price to the $1,075,000.00 we saw a couple months ago.

[Thegoldenage]

I think he means what is it worth now.

 

Probably still worth the $1.075 MIL unless someone decides to pay more or less for one.

 

I don't think it affects the price of the last sale at all. More like the opposite is true.

 

How so? Now that the whale who bought the 1 mil 8.0 has his copy, and the next whale has his 7.5 how many do you think are in line to spend that kind of bread?

 

I read in the New York Times that the wealthy are spending like mad right now on antiques and collectibles because they know the Bush era tax cuts are ending in December and they are putting their money into tangible assets before the tax cuts go bye-bye. If that's true, we might see a significant correction in the high end market over the next couple of years.

[VintageComics]

I think he means what is it worth now.

 

Probably still worth the $1.075 MIL unless someone decides to pay more or less for one.

 

I don't think it affects the price of the last sale at all. More like the opposite is true.

 

How so? Now that the whale who bought the 1 mil 8.0 has his copy, and the next whale has his 7.5 how many do you think are in line to spend that kind of bread?

 

I read in the New York Times that the wealthy are spending like mad right now on antiques and collectibles because they know the Bush era tax cuts are ending in December and they are putting their money into tangible assets before the tax cuts go bye-bye. If that's true, we might see a significant correction in the high end market over the next couple of years.

 

You're assuming that the 8.0 wouldn't sell at a higher price the second time around. That was a record booksale when it was unthinkable that a book would break $1MIL. I'd say the general public and collectors have come to be much more accepting of a $1MIL sale than it was 6 months ago and the right person might feel more comfortable spending more than $1MIL now than they did 6 months ago.

 

You're also assuming there was only one "whale". There are always new people coming and old people leaving. Also, some people can afford more than one copy of the same book.

 

Finally, people have been pouring their money into collectibles as a means to store their wealth for as long as I remember, but especially in tough times like since October 2008 or so when the markets really got hammered. I believe that is one reason why we have seen the "best of the best" rising in price at the expense of everything else.

 

 

[Thegoldenage]

I am assuming just that. I doubt the 8.0 would sell for more if it is sold again in the next 3 years.

 

There are probably less than 5 people who have more than 1 million to spend on a comic book, nevermind those who would even want to. Once a big spender gets his book, he's out. If he were the highest bidder, it stands to reason that the next highest bidder wouldn't have to pay as much to get the same book. There is a significant difference in the price of the 7.5 and the 8.0 no matter how much some try to whitewash it. I believe that is evidence enough of what I am saying here.

 

Folks have indeed been pouring money into high grade for a long time, but this is a whole new level of pouring. I agree that it is at the expense of everything else.

[VintageComics]

I am assuming just that. I doubt the 8.0 would sell for more if it is sold again in the next 3 years.

 

You could be right. Either of us could be for that matter. It's all speculation. The general rule that has held true is that holding is the best thing. 5 years, 10 years.

 

There are probably less than 5 people who have more than 1 million to spend on a comic book, nevermind those who would even want to. Once a big spender gets his book, he's out. If he were the highest bidder, it stands to reason that the next highest bidder wouldn't have to pay as much to get the same book. There is a significant difference in the price of the 7.5 and the 8.0 no matter how much some try to whitewash it. I believe that is evidence enough of what I am saying here.

 

I used to think the high end market of buyers was small. I don't think that any more. I can probably name 5 people who could spend a cool $MIL on a comic without much blinking. How many more are there?

 

I honestly believe that the Action #1 and Detective #27 that sold for $1MIL each were simply watershed moments and that there is much more to come in the future. I'm happy to be proven wrong.

 

Folks have indeed been pouring money into high grade for a long time, but this is a whole new level of pouring. I agree that it is at the expense of everything else.

 

True enough. It's also a whole new level of economics, psychology, wealth, etc.

[tth2]

Sometimes big purchases aren't made by individuals. Sometimes they're made by several individuals who have banded together, thus significantly increasing their individual buying power.

[VintageComics]

Sometimes big purchases aren't made by individuals. Sometimes they're made by several individuals who have banded together, thus significantly increasing their individual buying power.

 

Yup. Something I forgot to mention.

[detective35]

I agree with rd1970 and Fuelman,

 

The 8.0 sold for just over the 1 mil. mark so that is what it is worth, until another 8.0 is sold for more or less. Anything else is just purely speculation. The bottom line is that th 7.5 did not sell for that because it was not the highest graded and did not crack the 8.0 grade.

 

In comparision, in talking to Brulato sometime back, he might drop $750,000 or more for the only 9.6 AF 15, but if a 9.4 sells for $300,000, that would have absolutely NO affect on how he values the 9.6.

 

This might not be the most acurate comparison as one is a silver age book and one is a golden age book, BUT people will pay a benchmark price for the top grade of any book, and anything lower PROBABLY will not bring in close to the same money, as with the 7.5 Detective 27, compared to the 8.0.