Tonight's The Night. . .

[comix4fun]

Hello-

 

First, I want to thank everybody who bid last night in our original art auction. I have come onto the Forum today to let you all know that the high bid for the original cover art to Superman 14 was represented by a genuine bid from a hard core collector who is currently willing to pay $402,111.

 

Thanks,

 

Vincent

 

Very cool - congrats on the sale!

 

And if anyone flakes on any of that LB Cole art, just email / PM me!

 

Unless I am reading this wrong, neither of Jerry's (Tec and Supes) covers sold.

 

Of course, anyone who's seriously considered these covers knows that Jerry's asking prices were in excess of these reserves a long time ago, there was no danger of a $400k bid being successful on either piece.

 

Given that Stephen came on this board long before the close of the auction and announced that there were reserves in place and those reserves were set by Jerry it's hard to figure out what the final number actually means. It is clear that the "hard core collectors" knew that meant Jerry had not come down off of his asking prices, which is his right.

 

Of course it's a "hard core" collector, the "dilletante, fly-by night" bidders stop in the $200k range.

 

I have no doubt the bidders on the top end are real bidders. Those real "hard core" bidders would undoubtedly know that overtures have been made to Jerry in the past and given the figures thrown around then, I just don't know how much danger they felt that the reserve would be met with a $400k bid.

 

That's probably why, once it was revealed that reserves were in place, so many people predicted a "no sale" at auction when all was said and done. It was a great way to promote the pieces, the auction, etc. but I don't know how many people actually thought the pieces would move at auction given the information gathered to date.

 

I feel bad for anyone who didn't realize all of the above. To them this auction must have felt like a total waste of time.

[pinupcartoonguy]

I don't think there's been an actual sale yet . . .

[Mephisto]

Maybe next auction will have Superman 11 cover and Detective Comics 71 cover.

[OAFan-migration]

I don't think there's been an actual sale yet . . .

 

In that case, I have a nice panel page from KICKERS, INC. that I might be willing to part with in a straight-up trade for the SUPERMAN cover. . .

[bocaratondefense]

 

That's probably why, once it was revealed that reserves were in place, so many people predicted a "no sale" at auction when all was said and done. It was a great way to promote the pieces, the auction, etc. but I don't know how many people actually thought the pieces would move at auction given the information gathered to date.

 

 

Just look at the posts in this thread before the conclusion of the auction. Almost everyone was predicting that the reserves would not be met last night. And sure enough, they did not. Congratulations to Comic Connect though for all the publicity it was able to generated for this auction.

[otherworldsj33]

Around 2.2 Mil.

[otherworldsj33]

I agree. Those numbers are a fair gauge. Far from being less them very useful.

[comicartcom]

Around 2.2 Mil.

 

is that the answer to my question??

[comicartcom]

BTW Joe,, the Who is Next #5 page in your CAF is by Ross Andru

[Nexus]

Check out this piece on Comiclink:

 

http://www.comiclink.com/itemdetail.asp?back=%2Fsection%2Easp%3F%5FSORT%3DYES%26id%3D1398%26f1%3Di%2ELastUpdate%26ODire1%3DDESC%26f2%3Di%2EPublisher%26ODire2%3DDESC%26f3%3Di%2EIssueNumber%252C%2Bi%2EGenre%26ODire3%3DASC&id=758954

 

The asking price is $1567. Prospective buyers are allowed to make offers. There's currently an offer ("Bid Price") of $1555 on this piece. If you scroll down to 11/18/10, you can see this listing on the main page along with the offer:

 

http://www.comiclink.com/section.asp?_SORT=YES&id=1398&f1=i.LastUpdate&ODire1=DESC&f2=i.Publisher&ODire2=DESC&f3=i.IssueNumber%+i.Genre&ODire3=ASC

 

It has not sold. It has been listed and relisted continuously on Comiclink over the last couple of years. Each time, there is an "offer" that's around 90% of the asking price. Each time, the seller doesn't accept this "offer".

 

This time, the difference between the "offer" and the asking price is $12, less than 1% of the asking price. If we are to believe this offer is legitimate, then the seller is turning away an offer in excess of 99% of his asking price.

 

I have no idea who the seller is. But is there anyone who believes offers like this are meaningful or represent "actual people" willing to spend "real dollars"?

 

 

[Mephisto]

With some of those Comiclink pieces like the Strange Tales 114 page I can't tell if they have been shipped to that price or the seller had the price listed really high and rejected the bid only to have it sit for year(s) and then realize it's over prices and have to drop the asking price almost down the bid they (stupidly) rejected in the past.

[comix4fun]

That's really weird..no one in their right mind would turn that down if it was legit.

 

 

What's just as troubling are all the "bronze age covers" on clink listed as "cover concept" or "alternate cover" when they are all actually recent recreations or recent commissions.

 

One Chan cover is listed as "alternate" to a cover from 1977 but it's got a small '09 listed under Ernie's signature. It's just a commission.

[gambron]

Agreed Felix. When the reserve is known ahead of time (or a pretty good idea like the rumors that were floating around on the Comic-Connect pieces) bids that don't meet reserve are absolutely meaningless when trying to extrapolate market "indicators". Even more so in a tight-knit, cliquey hobby like this one where there is a lot of money to be gained and or lost by "perceived" values.

 

And I'm not trying to point fingers, just making a general statement regarding reserve auctions when "insider" information is available either directly or indirectly as it may be.

 

Ken

[Nexus]

My point with that example is that all these numbers are meaningless until we have a sale.

 

In a larger sense, all the stuff (including the cover recreations you mention) we've been talking about (especially the X-MEN #2 splash history) just illustrates the varying degree of unscrupulous that goes on in this hobby. These threads also show why it goes on: Because there are enough people who take everything at face value.

 

It's also why so many eat up HOLLYWOOD TREASURE.

[Nexus]

Agreed Felix. When the reserve is known ahead of time (or a pretty good idea like the rumors that were floating around on the Comic-Connect pieces) bids that don't meet reserve are absolutely meaningless when trying to extrapolate market "indicators". Even more so in a tight-knit, cliquey hobby like this one where there is a lot of money to be gained and or lost by "perceived" values.

 

And I'm not trying to point fingers, just making a general statement regarding reserve auctions when "insider" information is available either directly or indirectly as it may be.

 

Ken

 

(thumbs u

[lb jefferies]

 

I have no idea who the seller is. But is there anyone who believes offers like this are meaningful or represent "actual people" willing to spend "real dollars"?

 

 

Felix I can't tell you how pleased I am that you posted this. It has bugged me for YEARS and is the most blatant example of shill bidding I've seen in the hobby.

 

 

[otherworldsj33]

Thanks Richard!! I'll update it now.

[comicartcom]

Thanks Richard!! I'll update it now.

 

you're welcome Joe

 

I had the entire book at one point (having been one of the principals in the Standard/Fawcett warehouse deal)

 

so was your $2.2 mil an answer to my earlier question??

 

if so, I think that's a very low number. My opinion, that in order to buy a $500k piece of art (or whatever aside from a house) is that you should have at least 10x that amount in the bank & investments.. or $5mil+

[bocaratondefense]

Is there a difference between owning one $500,000 piece of art compared to a collection worth $500,000? I think there is a world of difference since the collector can choose to sell his collection either in its entirety or piecemeal, if he is not tied up with one large piece. My guess if there are quite a few OA collectors and comic collectors out there with that kind of collection who aren't quite at the $5M mark for the rest of their portfolio.

 

 

 

 

[comicartcom]

Boca.. people with a 500k collection probably haven't spent 500k on it as they have accumulated it over a time period when much of that collection was pruchased much more cheaply, and I was only talking about buying, right now at this moment, a piece for 500k. spending 25% of your net worth on a piece of art that is not an entirely liquid investment and one that could easliy go down in value by a considerable margin depending on many factors is not a wise move IMO. No investment counselor would advise you otherwise and generally they say that you should have no more than 10% of your "bank" in a single investment other than your home.