Golden Apple Comics up for auction

[MrBedrock]

It actually looks legit. Though the price actually is lower than I would gave expected. My guess is there's a good amount of debt that you get too.

 

That looks legit to you? In that case:

 

I HAVE AN ACTON #1 FIRST SUPERMAN. VERY GOOD SHAPE. ONLY READ ONCE. $2,000,000. IF YOU HAVE QUESTIONS, TALK TO STEVE - MY FRIEND'S BARBER'S UNCLE, TWICE REMOVED. HE KNOWS ALL ABOUT IT. PAYPAL ACCEPTED.

I'm sure it is legit. At one time Golden Apple's main location was the biggest grossing single retail shop in the country. Bill Liebowitz used to tell stories about Michael Jackson coming in after hours and buying whole showcases full of statues and figures (and yes, even the showcase). They had incredible, day of release signings with all the major comics creators. Bill was a master promoter and a comic retail innovator. Unfortunately Bill passed in 2004 and the retail industry lost a giant.

[Trev]

http://robot6.comicbookresources.com/2011/12/l-a-s-golden-apple-comics-for-sale-on-ebay/

[Dr. Balls]

look at the seller's name and feedback score of 1897. These kinds of businesses are often sold through a broker, just like the listing indicates. Have you ever thought of looking at a shop? I've dug into it a bit. Small businesses are sold sort of like real estate.

 

What makes you think this isn't legit?

 

If I lived in LA area, I would seriously investigate this. For sale for first time in 32 years means the owner is probably thinking about retiring. The name is established. Yes, the price seems a little low, but I'll bet if you dig on the financials it is probably about right, if not a little high.

 

I dug into buying an established shop walking distance to my house a couple of years ago, but the owner was deluded. He wanted on-going franchise fees and too much cash up front.

 

Any former shop owners on here who can weigh in with thoughts?

 

I owned a comic book shop in the 90's. If I posted an obscure ad like this on Ebay to sell it, I would hope people would make fun of me and teach me a lesson in how to list my business. There is no useful information on that page whatsoever regarding clientele numbers, what the inventory looks like, property ownership/lease contract, basic P&L information or any historical data - all of which can be displayed in such a way that they are not disclosing confidential information - yet giving people a better picture of what he's selling.

 

Whether it's legit or not, whether it's worth it or not - it's just a poor listing, and that's why we're making fun of it. People are posting more information about GA comics in this thread that can be found in the actual listing to buy the business.

 

[MrBedrock]

look at the seller's name and feedback score of 1897. These kinds of businesses are often sold through a broker, just like the listing indicates. Have you ever thought of looking at a shop? I've dug into it a bit. Small businesses are sold sort of like real estate.

 

What makes you think this isn't legit?

 

If I lived in LA area, I would seriously investigate this. For sale for first time in 32 years means the owner is probably thinking about retiring. The name is established. Yes, the price seems a little low, but I'll bet if you dig on the financials it is probably about right, if not a little high.

 

I dug into buying an established shop walking distance to my house a couple of years ago, but the owner was deluded. He wanted on-going franchise fees and too much cash up front.

 

Any former shop owners on here who can weigh in with thoughts?

 

I owned a comic book shop in the 90's. If I posted an obscure ad like this on Ebay to sell it, I would hope people would make fun of me and teach me a lesson in how to list my business. There is no useful information on that page whatsoever regarding clientele numbers, what the inventory looks like, property ownership/lease contract, basic P&L information or any historical data - all of which can be displayed in such a way that they are not disclosing confidential information - yet giving people a better picture of what he's selling.

 

Whether it's legit or not, whether it's worth it or not - it's just a poor listing, and that's why we're making fun of it. People are posting more information about GA comics in this thread that can be found in the actual listing to buy the business.

I don't think the ebay listing is the fault of the store owners. It is a purposefully vague listing by a business broker, obviously for the sole purpose of getting some exposure and making contacts to ultimately conduct a sale off-line.A pretty inexpensive way to offer a comic business for sale actually. Typical business brokers and bankers have no understanding of the comics retail business and are impossible to deal with in a realistic dollars sense. They have no idea what we do and don't have the patience to sit down and listen. Try getting a loan for a comic business these days. Impossible.

[Trev]

look at the seller's name and feedback score of 1897. These kinds of businesses are often sold through a broker, just like the listing indicates. Have you ever thought of looking at a shop? I've dug into it a bit. Small businesses are sold sort of like real estate.

 

What makes you think this isn't legit?

 

If I lived in LA area, I would seriously investigate this. For sale for first time in 32 years means the owner is probably thinking about retiring. The name is established. Yes, the price seems a little low, but I'll bet if you dig on the financials it is probably about right, if not a little high.

 

I dug into buying an established shop walking distance to my house a couple of years ago, but the owner was deluded. He wanted on-going franchise fees and too much cash up front.

 

Any former shop owners on here who can weigh in with thoughts?

 

I owned a comic book shop in the 90's. If I posted an obscure ad like this on Ebay to sell it, I would hope people would make fun of me and teach me a lesson in how to list my business. There is no useful information on that page whatsoever regarding clientele numbers, what the inventory looks like, property ownership/lease contract, basic P&L information or any historical data - all of which can be displayed in such a way that they are not disclosing confidential information - yet giving people a better picture of what he's selling.

 

Whether it's legit or not, whether it's worth it or not - it's just a poor listing, and that's why we're making fun of it. People are posting more information about GA comics in this thread that can be found in the actual listing to buy the business.

 

Did you own a major name in comics retailing? this is a marketing tactic and nothing more.

 

also -- http://www.comicsbeat.com/2011/12/27/for-sale-las-iconc-golden-apple-comic-shop/

 

it's legit.

 

reading this article, it's clear that the link to the brochure in the listing is now broken, but functioned at one time, because Heidi posts a screenshot of part of it.

 

I'm sure all that detail is readily available if you seriously inquire about it.

[markseifert]

I'm sure it is legit.

 

You should buy this, pick up the remants of the Atomic empire, and make yourself the largest comic retailer in the country.

[Gatchaman]

People. Seriously. Let's do this!

 

Why not? It can work with the right business model. Somebody buy it and we'll turn it into the greatest comic store on Earth. And our Online presence will be Out of this World! Everywhere. We'll give Chucky a run for his money immediately.

 

C'Mon, who's with me?

 

Let's buy Golden Apple! I live a little over an hour away. I'll put in the time.

 

Count me in for a $25 share. I expect 40% off my pull, and all comics I order get bagged and boarded.

 

I'll give $40 a share for 51% and I want 10% on all sales.

[Dr. Balls]

look at the seller's name and feedback score of 1897. These kinds of businesses are often sold through a broker, just like the listing indicates. Have you ever thought of looking at a shop? I've dug into it a bit. Small businesses are sold sort of like real estate.

 

What makes you think this isn't legit?

 

If I lived in LA area, I would seriously investigate this. For sale for first time in 32 years means the owner is probably thinking about retiring. The name is established. Yes, the price seems a little low, but I'll bet if you dig on the financials it is probably about right, if not a little high.

 

I dug into buying an established shop walking distance to my house a couple of years ago, but the owner was deluded. He wanted on-going franchise fees and too much cash up front.

 

Any former shop owners on here who can weigh in with thoughts?

 

I owned a comic book shop in the 90's. If I posted an obscure ad like this on Ebay to sell it, I would hope people would make fun of me and teach me a lesson in how to list my business. There is no useful information on that page whatsoever regarding clientele numbers, what the inventory looks like, property ownership/lease contract, basic P&L information or any historical data - all of which can be displayed in such a way that they are not disclosing confidential information - yet giving people a better picture of what he's selling.

 

Whether it's legit or not, whether it's worth it or not - it's just a poor listing, and that's why we're making fun of it. People are posting more information about GA comics in this thread that can be found in the actual listing to buy the business.

 

Did you own a major name in comics retailing? this is a marketing tactic and nothing more.

 

also -- http://www.comicsbeat.com/2011/12/27/for-sale-las-iconc-golden-apple-comic-shop/

 

it's legit.

 

Man, Trev - we're going to have to agree to disagree. I have been in advertising and marketing for about 15 years (10 of it in an agency), and I teach it at Montana State University.

 

I don't want to be a know-it-all here, but I will say with professional experience and 100% certainty: if it's a marketing tactic, it's succeeding at getting people who don't have the money to buy it, the assets to get a loan with a bank or live in a location to own it - to discuss it at length, which has virtually zero value in terms of marketing.

 

In terms of professionalism and how a business wants to portray itself and it's 32-year old brand identity (which has lots of value) - it falls flat. It's a vague, incomplete, unprofessional and ambiguous listing that misses just about every single advertising and marketing requirement for something to be sold. That ad does more damage to the brand identity of GA comics than it does to help it. It creates an air of conjecture, guessing and gossiping - things that marketing is supposed to control, but does not in this example. People who think this is how you generate "buzz" by selling something do not understand how effective marketing works. And, that's not a shot at you, that's a shot at whomever listed this on Ebay.

 

If a broker can't be bothered to listen, understand and sell his client's business - regardless of what it is, then they need to look for another broker. If he sells his business via Ebay and gets a positive feedback from it, I'll gladly stand corrected.

 

Edit: And just for the record, I don't have issue with the value here - I have issue with the way they are listing an obviously valuable business. It's a shame that it's being sold, and even a bigger shame that whomever is selling it is omitting important details and information, whether purposefully or not.

[Gatchaman]

It actually looks legit. Though the price actually is lower than I would gave expected. My guess is there's a good amount of debt that you get too.

 

That looks legit to you? In that case:

 

I HAVE AN ACTON #1 FIRST SUPERMAN. VERY GOOD SHAPE. ONLY READ ONCE. $2,000,000. IF YOU HAVE QUESTIONS, TALK TO STEVE - MY FRIEND'S BARBER'S UNCLE, TWICE REMOVED. HE KNOWS ALL ABOUT IT. PAYPAL ACCEPTED.

 

look at the seller's name and feedback score of 1897. These kinds of businesses are often sold through a broker, just like the listing indicates. Have you ever thought of looking at a shop? I've dug into it a bit. Small businesses are sold sort of like real estate.

 

What makes you think this isn't legit?

 

If I lived in LA area, I would seriously investigate this. For sale for first time in 32 years means the owner is probably thinking about retiring. The name is established. Yes, the price seems a little low, but I'll bet if you dig on the financials it is probably about right, if not a little high.

 

I dug into buying an established shop walking distance to my house a couple of years ago, but the owner was deluded. He wanted on-going franchise fees and too much cash up front.

 

Any former shop owners on here who can weigh in with thoughts?

 

I owned a couple stores and just having thousands of dollars of stock doesn't mean much. You have to find out what their sales were like for the past couple years and if there is a steady customer base or you will just have a building full of inventory that goes nowhere.

 

Hopefully the store kept good financial records not only of sales, but also any debts they may own. Even if they owe money to the IRS you would be buying those debts.

[brendanb438]

Someone snag the BIN via eBay and then open up a SNAD complaint via PayPal.

 

Ok you can't open a SNAD without paying for the item but damn that would be entertaining.

 

I am sure if people flag this auction via eBay they will pull it down quickly since the intent is to move the transaction off eBay through the broker directly.

[jmg3637]

It would not surprise me if this was legit.

 

The owner Bill (?) died a few years ago. I believe his son took over.He was very well known and was a Yo-Yo expert. He hosted classes to teach his skills.

 

At that time they had store in the SFV as well. They quickly sold the Valley store. I am sure that the store in hollywood has been on the decline ever since. Honestly they never had much of a back issue presence and mostly sold new comics and comic related items.

 

I am in the LA area and have shopped at that store a few times but never found it worth much for a collector.

 

 

[rjpb]

I don't know if Golden Apple owns or leases the space they're in, but I imagine the price is for the business only.

 

The Golden Apple of today is not the place it was when it was located in a prime Melrose storefront near Fairfax with at least double the square footage of the current one. I don't recall them having a particularly impressive backstock inventory even then.

 

As a reference point, Hi-De-Ho Comics in Santa Monica ( which has also moved from their longtime location) was offering to sell their business/inventory for around a quarter million about three years ago. I'm not sure if they had any interest.

 

Unfortunately, i doubt too many brick and mortar comic stores have much value as a business beyond that of their inventory.

[brendanb438]

So they have really zero inventory it sounds like so you are probably just buying the name and the debt.

 

Um screw that, someone in the L.A. area needs to quickly open up a new store and needs to name it Brown Eye Comics. This will be huge in Cali.

[MrBedrock]

I'm sure it is legit.

 

You should buy this, pick up the remants of the Atomic empire, and make yourself the largest comic retailer in the country.

very interesting

[bedrockcomics]

Someone should contact Gareb - Sounds like the perfect opp for him !!!!!!!

[Dr. Balls]

MrBedrock and bedrockcomics should get together and buy it.

[towards2112]

I'm sure it is legit.

 

You should buy this, pick up the remants of the Atomic empire, and make yourself the largest comic retailer in the country.

very interesting

 

I'm always looking for a new gig....

[bedrockcomics]

MrBedrock and bedrockcomics should get together and buy it.

 

 

We would have a killer store .......Although it would be along comute

[comicdonna]

[Gatchaman]

1.9% of their sales were in back issues? When I had my store in 1999 at least 75% of my sales were in back issues and averaged 300-500% mark ups on them. I could sell the death out of back issues not only because I had good prices, but I was personable with my customers and we would talk about comic books and stories and they would buy more.

 

0.6% on trading cards? My gaming store sold a lot of cards also because I did the same with these as the comics.

 

You just can't put up a store and expect it to be like Walmart where people buy groceries because they NEED them. You have to get them interested and excited to want to buy these things. I always looked it as selling ice cubes to Eskimos.

 

A store can seller over $100,000 in a year and make no money. There is no money in weekly books or trades. This may be a popular store, but is it making money?

 

I am doing better on my own than owning a store. I bought a collections for $75, $300, $100, and $110. I made around $700 off of one and over $1,000-1,500 on the others.

 

Point is that if I decided to buy into something like this I would want to know where their sales are and if it would continue.