Nick Cage's stolen Action Comics #1 has been recovered

[G.A.tor]

coolio

[ashrael]

 

Do you recall when he called it a VF?

 

In a lengthy post on the subject here in 2006:

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Number=1510108&fpart=1

 

Here are the facts:

3 books- A VF Action Comics #1 (unrestored), a VF Detective #27 (unrestored except for a tiny sealed tear on the back cover/sold in the 1992 Sotheby's auction) and a 3rd book that I will not disclose for the time being, were missing. These books had been placed in high security frames on a wall.

 

What was the 3rd book stolen? Something awkward to explain to the public (Reform School Girls) or just weird (Hello Pal)?

[VintageComics]

I believe the third book stolen was a really nice copy of a later Marvel Mystery book.

 

Wonder if this new Action #1 will be coming to market soon?

[TheShadowKnows]

I believe the third book stolen was a really nice copy of a later Marvel Mystery book.

 

Wonder if this new Action #1 will be coming to market soon?

64 or 69 if I remember correctly.

[VintageComics]

64 rings a bell but I wasn't sure.

 

 

[PeasOfCrap]

wait what? was this really found by the Storage Wars guys?

[fantastic_four]

Wonder if this new Action #1 will be coming to market soon?

 

If the insurance company is indeed the one getting it, almost certainly yes. They'll want their money. Sounds like Fishler will get first crack at buying or consigning it and may have already done one of those already.

[oakman29]

I believe the third book stolen was a really nice copy of a later Marvel Mystery book.

 

Wonder if this new Action #1 will be coming to market soon?

64 or 69 if I remember correctly.

Marvel Mystery #71

[Senormac]

I think it will probably go up on auction somewhere. Remember the guy who found one in the basement of his house. Or was it the attic

[Comicdey]

The real kicker here is that Nik Cage not only lost the book once, had to sell his collection for a fraction of todays values (well..maybe he didn't have to), but now has to watch the insurance company make a tidy profit off of his book that could have made up for his past transgressions with respect to comic investments. I wonder how brown the pages are with 10 years of improper storage?

[fantastic_four]

The real kicker here is that Nik Cage not only lost the book once, had to sell his collection for a fraction of todays values (well..maybe he didn't have to), but now has to watch the insurance company make a tidy profit off of his book that could have made up for his past transgressions with respect to comic investments.

 

You have reason to believe he didn't profit when he sold his collection in 2002?

[500Club]

Regardless of the insurance,this book belongs to it's rightful owner Nick Cage.

 

The rightful owner is the insurance company.

 

They 'bought' the book back in 2002.

[Cat-Man_America]

Regardless of the insurance,this book belongs to it's rightful owner Nick Cage.

 

The rightful owner is the insurance company.

 

They 'bought' the book back in 2002.

 

Mr. Cage should have the option of buying the books back from the insurance company at the cost of payout plus annual inflation (not current fair market value).

 

I would certainly request a similar provision with my insurer. Insurance companies already make off like bandits. Not that I'm accusing anyone of being dishonest, but it is legalized robbery if they profit from Nick Cage's misfortune.

[Ares]

Regardless of the insurance,this book belongs to it's rightful owner Nick Cage.

 

The rightful owner is the insurance company.

 

They 'bought' the book back in 2002.

 

Mr. Cage should have the option of buying the books back from the insurance company at the cost of payout plus annual inflation (not current fair market value).

 

I would certainly request a similar provision with my insurer. Insurance companies already make off like bandits. Not that I'm accusing anyone of being dishonest, but it is legalized robbery if they profit from Nick Cage's misfortune.

 

They paid Nick Fair market value for item at time if it was stolen.

If item was recovered and worth less now than what they paid Should Someone pay the insurance company for the change in Value

[500Club]

Regardless of the insurance,this book belongs to it's rightful owner Nick Cage.

 

The rightful owner is the insurance company.

 

They 'bought' the book back in 2002.

 

Mr. Cage should have the option of buying the books back from the insurance company at the cost of payout plus annual inflation (not current fair market value).

 

I would certainly request a similar provision with my insurer. Insurance companies already make off like bandits. Not that I'm accusing anyone of being dishonest, but it is legalized robbery if they profit from Nick Cage's misfortune.

 

I have mixed feelings. I detest insurance companies, as I see them time and time again try to game exclusionary policies, to the detriment of my patients.

 

However, the whole point of the insurance contact is that they become a buyer of the item in the event of theft or loss.

 

I'd love to see your suggestion put into play, though - that Cage be able to reclaim his item at payout plus inflation.

[markseifert]

Regardless of the insurance,this book belongs to it's rightful owner Nick Cage.

 

The rightful owner is the insurance company.

 

They 'bought' the book back in 2002.

 

Mr. Cage should have the option of buying the books back from the insurance company at the cost of payout plus annual inflation (not current fair market value).

 

I would certainly request a similar provision with my insurer. Insurance companies already make off like bandits. Not that I'm accusing anyone of being dishonest, but it is legalized robbery if they profit from Nick Cage's misfortune.

 

There must be a range of standard industry practices to facilitate the property being reacquired by the former owner in cases like this, it surely comes up fairly frequently. Gotta be some insurance people on the boards.

[Mister_Comics]

Cage sold 400 comics from his collection for 1.5 million. I think he made some $$$$ on that deal.

 

Cage just recently got paid by the insurance company, not back 10 years ago.

 

The stolen books were framed. If the comic was found still framed hopefully the condition didn't change.

[Bronty]

no I think these frames were bolted into the wall if I'm not mistaken (recall reading that). So probably not in the frame

[Bronty]

Cage sold 400 comics from his collection for 1.5 million. I think he made some $$$$ on that deal.

 

Cage just recently got paid by the insurance company, not back 10 years ago.

.

 

Interesting. would love to hear from the insurance people.

[VintageComics]

The real kicker here is that Nik Cage not only lost the book once, had to sell his collection for a fraction of todays values (well..maybe he didn't have to), but now has to watch the insurance company make a tidy profit off of his book that could have made up for his past transgressions with respect to comic investments.

 

You have reason to believe he didn't profit when he sold his collection in 2002?

 

Lots of Cage's books came back restored when the collection was slabbed (remember, CGC was only 2 years old at the time). Not sure whether he actually knew they were restored or not when he bought the majority of them. I believe they were purchased raw pre CGC. Some people say yes and some people say no.