Fun with Auctions posted by David Swan

[CSJournals-migration]

There Must be a Million Stories Out There

 

Saw an interesting auction yesterday on EBAY. There was a 9.0 CGC graded copy of All American Men of War available that I had some interest in. Sometimes you can get a real nice bargain on an EBAY auction and I was going to bid up to $100.00 (It's guide priced at $190). I thought things were looking decent for me and I even went a few bucks over $100 in the last few seconds when all of a sudden to my shock the auction completed with a winning bid of $780.00. WHAT!?!?! My first thought was that someone in their haste completely put in the wrong number but actually someone had put in a max bid of $770.00 and then in the last moment another person exceeded it by $10. I have never seen an issue go for so much over guide price. An 8.0 CGC graded copy of issue 31 went for a much more reasonable $272.67 (close to guide price) at the same time. The seller must have been partying last night after that bid came in.

 

I was looking on Comic Connect and came across an issue of World's Finest Comics #6 non CGC graded VF+ (8.5) for $75 and #10 non CGC graded VF (8.0) for $100. Those prices are amazing, unbelievable... completely unbelievable. Then I noticed an 'fc' tag. I hovered my cursor over it and saw that fc means 'front cover' i.e. you GET the front cover. Oh and the Superman story is there also, it's just not attached. How in the world could someone label a front cover as VF+ Does Comic Connect have no quality control? I have to wonder if at some point someone will be duped into buying that junk.

 

See more journals by David Swan

[jackowick-migration]

I've been amazed at what CGC grading can do sometimes for Golden and some Silver books, but I'm not sure what the census is on that one. A 9.0 Golden is money in the bank and a treasure...

 

... and yet I see consistent price gouging of late silver/bronze books that were mass produced and highly collected/preserved. Just look up most X-Men from issues 100-130 and you'll see a ton, a TON of 9.8s that people are asking obscene amounts for.

 

I always say let the auctions drive the prices, but in your case, I think you had either 2 very interested competitors, or dare I say, a scam bid-up.

[cheetah]

If you were looking at the #76 that Jerry Weist's estate was auctioning, you were never going to get it for $100. It is the highest graded copy with the next highest copy grading 4.5.

 

If you are going to bid on high-grade CGC books, you might want to invest in GPAnalysis. It will probably help with unrealistic expectations.

[David Swan]

I hear what you're saying and it makes sense but I own no less than 13 of the highest graded Captain Marvel Adventure comics and never paid above guide price. I have a copy of CMA issue #112 CGC grade 9.2. It is the highest graded issue with the second highest being a laughable 2.0 and yet I paid well under guide price.

 

I've never really noticed a premium being placed on the highest grades of comics. My experience is that buyers focus solely on the grade not the grade compared to other issues of the comic. For instance a 9.6 that shares a grade with 20 other comics seems to fetch a far higher prices than a 9.2 that stands alone at the top of the heap. Doesn't make sense to me but that is my experience (which is why I try to grab up highest grade issues).

 

$100 may have been unrealistic (and you are correct about the seller) but I've been surprised in the past. I've gotten some major deals for instance I recently won an All American Men of War non CGC graded F/VF #17 (guide priced at $272.00) for $27.00.

[David Swan]

Oooh, be careful. I've gotten myself in big trouble here saying that mass produced collected/preserved bronze age books are overpriced. Heck, I've gotten people angry for saying that current CGC graded comics are overpriced.

[cheetah]

I hear what you're saying and it makes sense but I own no less than 13 of the highest graded Captain Marvel Adventure comics and never paid above guide price. I have a copy of CMA issue #112 CGC grade 9.2. It is the highest graded issue with the second highest being a laughable 2.0 and yet I paid well under guide price.

 

I've never really noticed a premium being placed on the highest grades of comics. My experience is that buyers focus solely on the grade not the grade compared to other issues of the comic. For instance a 9.6 that shares a grade with 20 other comics seems to fetch a far higher prices than a 9.2 that stands alone at the top of the heap. Doesn't make sense to me but that is my experience (which is why I try to grab up highest grade issues).

 

$100 may have been unrealistic (and you are correct about the seller) but I've been surprised in the past. I've gotten some major deals for instance I recently won an All American Men of War non CGC graded F/VF #17 (guide priced at $272.00) for $27.00.

 

With Captain Marvel, and most of the other Fawcett titles, prices are almost always below guide. They suffer from a lack of appreciation in the hobby. I collect Captain Midnight myself, and find they almost always come in below guide for anything short of uber high-grade pedigrees. Yet a Marvel Mystery or Captain America from the same month in the same condition may sell for 10x to 50x what the Fawcett title will and will always sell at multiples of guide.

 

All of the DC war books have been hot and, even though I don't collect them, it is easy to hear the scuttlebutt here on the boards about people pursuing tough-to-find copies. Top it off that Jerry Weist auctions pretty much have always carried a premium given his name and reputation in the hobby. Now that he has passed away, it's one of the last opportunities to get something from his estate.

 

There is a really big drop-off in values when you get into the F/VF range. Most books are pretty common in that grade and most people don't bid heavily on them thinking there will likely be another chance pretty soon. As far as what you consider 'high grade,' I think you really have to know the title and the availability of books. 1950's books like pre-code horror are difficult to find in the 9.0 range and I think war comics are much the same (though I don't collect them and don't know for sure), so a 9.0 will fetch a pretty decent price. Conversely, there are titles that are much more common in high grade and a 9.4 or 9.6 may not be as rare. Again, you have to know the title to really make a judgement.

 

But GPA is still a good tool if you are going to buy CGC books. I looked through the AAMAW listings in the vicinity of the book you bid on and sales of anything over a 7.0 were few and far between. One issue graded a 9.0 sold for around $760 in the last year. That's pretty much where the one you were tracking ended up. I can't recommend it enough and I think a lot of people around here feel the same.

[David Swan]

I guess I can count my blessings. I recently managed to get AAMoW issues #88 CGC graded 9.2 (highest CGC grade) for $199.00. There are a load of CGC graded AAMoW selling on EBAY including many 9.0+ issues. I tried to negotiate a lower price since they're well above guide price. The dealer told me he used GPA and set his prices accordingly... and so they sit... and sit.... and sit. I'm not sure why a Jerry Weist comic would command a premium since CGC pretty much standardizes the quality.

 

As to the Fawcett comics if they ever take off I should do quite well. The Marvel Family comics are even cheaper than Captain Marvel Adventures and high grades are readily available. Not sure why the lack of interest with talents like C.C. Beck and Otto Binder. I figure I'll grab 'em now while they're priced low but given that they're 60+ years old I'm not sure when, if ever, they'll take off.

[thehumantorch]

I guess I can count my blessings. I recently managed to get AAMoW issues #88 CGC graded 9.2 (highest CGC grade) for $199.00. There are a load of CGC graded AAMoW selling on EBAY including many 9.0+ issues. I tried to negotiate a lower price since they're well above guide price. The dealer told me he used GPA and set his prices accordingly... and so they sit... and sit.... and sit. I'm not sure why a Jerry Weist comic would command a premium since CGC pretty much standardizes the quality.

 

As to the Fawcett comics if they ever take off I should do quite well. The Marvel Family comics are even cheaper than Captain Marvel Adventures and high grades are readily available. Not sure why the lack of interest with talents like C.C. Beck and Otto Binder. I figure I'll grab 'em now while they're priced low but given that they're 60+ years old I'm not sure when, if ever, they'll take off.

 

Jerry Weist is considered one of the founding fathers of comic fandom. He

really did it all and I've never heard a bad word about him, many would pay a

premium to buy from him or his estate. Comics grades may be relatively standardized

by CGC but sellers are not standardized.

 

I love Captain Marvel comics but they are relatively common, millions of each

issue were sold, and demand has been low for some time.

[David Swan]

Just out of curiosity do you think that the Captain Marvel comics are not being CGC graded because even though the circulation was very high the number of CGC graded copies isn't?

[thehumantorch]

They aren't being CGCd in general because they won't sell for enough to justify

the cost. Most people CGC books to sell them and the first thing they look at

is selling prices via GPA or selling history on ebay or Heritage Auctions.

 

You may be buying cool books for far less than guide but in general they are

selling for that amount for a reason. Demand drives prices in books like

Incredible Hulk 181 where there are thousands of copies and many thousands

of buyers. If you check the CGC census you will find insane numbers of graded

copies because they sell for enough to justify grading costs. Rarity will drive

prices for books like some of the OAAW and other War genre books because

some never show in high grade and there are War niche collectors who will buy

them. Best of all is high demand, low supply comics.

[David Swan]

It just doesn't seem like what I'm seeing confirms your thinking on Captain Marvel Adventures. If it wasn't cost effective to CGC grade CMA issues I would expect to see a glut of ungraded VF+ and up issues for sale but I don't. I do see lots of ungraded CMA issues but it's not often I see a high grade issue that isn't professionally graded. It does seem like there should be a ton of them but I'm just not seeing them. Also, unless the guide prices are WAY off you can generally make up the cost of a grading on a 6.5 and up with some of the highest grades (9.4 and up) doubling the value. Yet the high grades are extremely rare. And again, if it's just cost effectiveness I would expect CMA to be top heavy with high grades but it isn't.

[adamstrange]

I guess I can count my blessings. I recently managed to get AAMoW issues #88 CGC graded 9.2 (highest CGC grade) for $199.00. There are a load of CGC graded AAMoW selling on EBAY including many 9.0+ issues. I tried to negotiate a lower price since they're well above guide price. The dealer told me he used GPA and set his prices accordingly... and so they sit... and sit.... and sit. I'm not sure why a Jerry Weist comic would command a premium since CGC pretty much standardizes the quality.

 

 

Welcome to the Boards

 

After doing an eBay search I see the book in question and it is a very sought after and difficult book to find. This lot was probably noticed by two devoted DC War fans and I doubt they were too surprised at the outcome.

[thehumantorch]

It just doesn't seem like what I'm seeing confirms your thinking on Captain Marvel Adventures. If it wasn't cost effective to CGC grade CMA issues I would expect to see a glut of ungraded VF+ and up issues for sale but I don't. I do see lots of ungraded CMA issues but it's not often I see a high grade issue that isn't professionally graded. It does seem like there should be a ton of them but I'm just not seeing them. Also, unless the guide prices are WAY off you can generally make up the cost of a grading on a 6.5 and up with some of the highest grades (9.4 and up) doubling the value. Yet the high grades are extremely rare. And again, if it's just cost effectiveness I would expect CMA to be top heavy with high grades but it isn't.

 

I'm not a Captain Marvel expert and I can't estimate how many high grade copies are out there. In general, lots were published and a fair number survived. There was a recent sales thread here of many nice GA Captain Marvels that finally all sold for about half guide to someone who hoped to flip them for a profit. I doubt he made money..

 

If you check Metropolis' inventory you will find multiple copies of most issues

 

http://www.metropoliscomics.com/bookSearch.php?pageNum=0&pageSize=50&aSearchPos=&order=&sort=asc&display=list&set=0&front_image=&price=0&mod_date=&style=&searchType=advanced&title=captain+marvel&issue=&publisher=99&genre=&creator=&pedigree=&comments=&runSearch=Run+Search

 

The books aren't rare or common but demand isn't high. And for my money the

Mac Raboy Captain Marvel Jr and Master Comics are masterpieces.