Action Comics #1 (1938) CGC 9.0 on the census

[cd4ever]

1.64m.

 

The number of potential buyers is very small. And one was eliminated when the 8.5 sold.

However, I was wrong once before.

[Theagenes]

I think some people are treating this book as if it was a new ASM 9.8 popping up on the census. A .5 grade bump at the seven figure level is not going to get the same kind of multiple increase in value that a four or five figure book might get.

 

This is a completely different playing field with only a handful of players. 2 Mil is an amazing number and if it gets that it will be incredible for the hobby. 1.75 is probably more realistic---especially if it really does sell in an auction format.

[bluechip]

In judging what a collectible is "worth" it helps to consider relative value; Or to put it simpler, what are other collectibles "worth" and how does this compare relative to scarcity, importance, public awareness, etc.

 

Based on that, if any copy whatsoever of New Mutants 98 is worth $12,000, then the best available Action 1 should be worth about four and a half a billion dollars. So this book would be a bargain at merely 2 mil

[Mike's Rack]

Based on that, if any copy whatsoever of New Mutants 98 is worth $12,000, then the best available Action 1 should be worth about four and a half a billion dollars. So this book would be a bargain at merely 2 mil

 

 

 

 

I think that the wild card and what makes this different than other hobbies is the Church copy out there. No matter what you pay for this book, it's only going to be second best. Unlikely that the Church copy will come to market any time soon, if ever. Genius strategy, buy the best copy and hold it while people fight for number 2 and push your book up, and up, and up....

[topofthetotem]

I think the recent Auctions by Metro showed that the Actions that were sold for record prices prove there is a healthy market at the top end for high grade rare books despite the drag of the current economy.

[mrwoogieman]

What a beautiful book! Iconic!

 

[nearmint]

1.64m.

 

The number of potential buyers is very small. And one was eliminated when the 8.5 sold.

However, I was wrong once before.

 

Why would you say that a potential buyer was eliminated when the 8.5 sold? I would think that buyer would be very much in the market for this copy.

[cd4ever]

1.64m.

 

The number of potential buyers is very small. And one was eliminated when the 8.5 sold.

However, I was wrong once before.

 

Why would you say that a potential buyer was eliminated when the 8.5 sold? I would think that buyer would be very much in the market for this copy.

 

High Grade Action 1 hoarder??? That's just wrong!

 

I dunno, I would think he'd be happy with that one and unwilling to shell out a couple million for another one. Having never had that much money, it's hard to put myself in his shoes. Or perhaps he could flip that piece of junk 8.5 for a real copy.

 

[Bronty]

Who's to say he wouldn't buy the 9.0 and sell the under copy. People do it all the time with books of all sorts of prices; this isn't much different if at all. Heck metro might get to resell the 8.5 pretty quick . In that scenario the 8.5 wouldn't be risked at auction but I bet Metro could find him a buyer given some time

[cd4ever]

Who's to say he wouldn't buy the 9.0 and sell the under copy. People do it all the time with books of all sorts of prices; this isn't much different if at all. Heck metro might get to resell the 8.5 pretty quick . In that scenario the 8.5 wouldn't be risked at auction but I bet Metro could find him a buyer given some time

 

Very possible I suppose.

I bet he's a little nervous. If the 9.0 goes for 1.8m or less, that would likely drop the value of his 8.5 and it would be tough to get his measly 1.5 mill back.

 

I still think 2 mill is just not going to happen and it will be closer to 1.5 than to 2.

 

When I'm wrong, let the bashing begin.

[supapimp]

Who's to say he wouldn't buy the 9.0 and sell the under copy. People do it all the time with books of all sorts of prices; this isn't much different if at all. Heck metro might get to resell the 8.5 pretty quick . In that scenario the 8.5 wouldn't be risked at auction but I bet Metro could find him a buyer given some time

 

Very possible I suppose.

I bet he's a little nervous. If the 9.0 goes for 1.8m or less, that would likely drop the value of his 8.5 and it would be tough to get his measly 1.5 mill back.

 

I still think 2 mill is just not going to happen and it will be closer to 1.5 than to 2.

 

When I'm wrong, let the bashing begin.

 

the CGC 8.5 has already dropped in value since the nic cage copy got a CGC 9.0. that's why i always said that i'd rather own a 'tec 27 than an action 1. too many popping up for auction or for sale.

[sterlingcomics]

I always try to get a bid in on these kids of auctions. I might go $100,000.... you never know. Lightning might strike

 

Hehe...Hell might freeze over too

[Theagenes]

Who's to say he wouldn't buy the 9.0 and sell the under copy. People do it all the time with books of all sorts of prices; this isn't much different if at all. Heck metro might get to resell the 8.5 pretty quick . In that scenario the 8.5 wouldn't be risked at auction but I bet Metro could find him a buyer given some time

 

Very possible I suppose.

I bet he's a little nervous. If the 9.0 goes for 1.8m or less, that would likely drop the value of his 8.5 and it would be tough to get his measly 1.5 mill back.

 

 

This scenario was my point in this earlier post:

 

Unless the buyer of the 8.5 wants to upgrade in order to keep their place in the pecking order. With that kind of money invested you'd almost have to double down to keep that no. 2 spot.

 

He's almost trapped into going after this 9.0. He just shelled out a record 1.5 mil to have the 2nd best known copy and the best known copy on the market. Now if he wants to keep that spot and protect that investment he will have to get this new one, then maybe sell the 8.5.

 

 

[Bronty]

I'm sure he's wishing the timing had been different but if he's philosophical about it and sufficiently liquid he will realize that when you get the chance to buy an A1 9.0, you buy it and the costs or timing be damned.

[Dark Knight]

Shoot I wish I could afford that book. It looks very well presented for a 9.0. The cr-offwhite pages do not bother me on a GA book, let alone the most valuable book in the hobby. I still think it will sell for under $2M but hey I could be wrong. There will always be one less potential buyer for this book as a number of copies have sold recently. If say there were no Action 1 buyers withing the last 5 years or so in mid to high grade, then I would predict it to be a $2M book or more!

 

Unless the buyer of the 8.5 wants to upgrade in order to keep their place in the pecking order. With that kind of money invested you'd almost have to double down to keep that no. 2 spot.

 

May upgrade, BUT how much would he lose if he puts his 8.5 up for sale? I don't think it would sell for $1.5 mil again

[Dark Knight]

The Church copy is still the #1 Action #1 book out there. You can bet anything that it won't be up for sale anytime soon. So as a potential buyer of this 9.0 copy, you gotta ask yourself do I go all in on this and win it by all means or do I put a price in mind that I am comfortable in paying and if it goes above that then I'd let it slide.

 

If the Church copy gets graded, then all that money shelled out on the 9.0 would seem like the winner overpaid.

[supapimp]

Shoot I wish I could afford that book. It looks very well presented for a 9.0. The cr-offwhite pages do not bother me on a GA book, let alone the most valuable book in the hobby. I still think it will sell for under $2M but hey I could be wrong. There will always be one less potential buyer for this book as a number of copies have sold recently. If say there were no Action 1 buyers withing the last 5 years or so in mid to high grade, then I would predict it to be a $2M book or more!

 

Unless the buyer of the 8.5 wants to upgrade in order to keep their place in the pecking order. With that kind of money invested you'd almost have to double down to keep that no. 2 spot.

 

May upgrade, BUT how much would he lose if he puts his 8.5 up for sale? I don't think it would sell for $1.5 mil again

 

this is a todd mcfarlane moment, you have to buy the book, and you don't sell the under copy. you have to hold.

[Bronty]

Unless metro can find you a buyer at 1.5m. Agreed. You can't demonstrate any price weakness by letting it go for a loss.

[Theagenes]

Unless metro can find you a buyer at 1.5m. Agreed. You can't demonstrate any price weakness by letting it go for a loss.

 

I certainly wouldn't put the undercopy up in an auction format. You'd have to wait for a buyer.

 

I think it's an important point that all of the seven figure sales except one were private sales.

[SharpComics.com]

Shoot I wish I could afford that book. It looks very well presented for a 9.0. The cr-offwhite pages do not bother me on a GA book, let alone the most valuable book in the hobby. I still think it will sell for under $2M but hey I could be wrong. There will always be one less potential buyer for this book as a number of copies have sold recently. If say there were no Action 1 buyers withing the last 5 years or so in mid to high grade, then I would predict it to be a $2M book or more!

 

Unless the buyer of the 8.5 wants to upgrade in order to keep their place in the pecking order. With that kind of money invested you'd almost have to double down to keep that no. 2 spot.

 

May upgrade, BUT how much would he lose if he puts his 8.5 up for sale? I don't think it would sell for $1.5 mil again

 

this is a todd mcfarlane moment, you have to buy the book, and you don't sell the under copy. you have to hold.

 

(thumbs u . I completely agree with this. If you have 1.5 mil to purchase the 8.5, there is a decent chance you might have an additional 2.0 mil for the 9.0, which in that case you should buy and hold .