xmen #94 cgc 9.6

[FFB]

The great crash is here.

 

Sell all your high-grade books!!!!!

 

Run for the hills and protect the women and children!!!!

 

Holy , not even I thought it would go for only...$4,450.

 

Are you watching LordRahl?

 

Oh I'm watching. I just saw the highest price ever realized for a 9.4 copy of X-Men 94. Might even be a 9.2 Jason is not stupid, why do you think he had such a low reserve on it?

 

I count at least four spine stresses that break color. 9.6? Please!!!!

[joe_collector]

You guys are too much. We see horrific looking CGC 9.8 and 9.6 copies going for record prices, and it's obviously speculators "buying the label", but when prices fall as the Census rises, suddenly CGC is over-grading all the books.

 

You want to know why Jason set the reserve so low? Because he's a businessman, and as there were a few "reserve not met" auctions in the $4-$5K level, he wanted to get his money out now, before the mountain of HG copies swells the Census any more.

 

Jason made the right call, especially now that calm-mix is submitting his own hoard now, and with lower EBay prices, I suspect others will as well. X-Men 94 is no longer a "hot speculator property" and I can't see prices rising to new record levels.

[delekkerste]

I was the first on this thread to point out that this book ain't worthy of a 9.6, but J_C is right - that hasn't stopped people from doling out the big $$$ for copies with QP and/or overgrading problems. Besides, I've seen dozens of CGC 9.0-9.6 copies of XM #94 and it's clear to me that the book has been consistently overgraded by CGC. There are some absolutely ratty-looking 9.4s out there that would get 9.0s or 9.2s if they were other books. This is NOT the only 9.6 copy to have color-breaking stress lines - one of the two that were recently on ComicLink had at least one as well, which often means immediate demotion to a 9.4 for other books.

 

I don't think we'll see this book sustaining a $7K price tag again anytime soon (though you can never rule out a single auction getting there). I think the "all is well" crowd is going to have to concede this battle: Large spike in the Census + Existence of a 9.8 graded copy + Loss of momentum + Tapped out collectors = Meaningful price correction.

[FFB]

I was the first on this thread to point out that this book ain't worthy of a 9.6, but J_C is right - that hasn't stopped people from doling out the big $$$ for copies with QP and/or overgrading problems. Besides, I've seen dozens of CGC 9.0-9.6 copies of XM #94 and it's clear to me that the book has been consistently overgraded by CGC. There are some absolutely ratty-looking 9.4s out there that would get 9.0s or 9.2s if they were other books. This is NOT the only 9.6 copy to have color-breaking stress lines - one of the two that were recently on ComicLink had at least one as well, which often means immediate demotion to a 9.4 for other books.

 

I don't think we'll see this book sustaining a $7K price tag again anytime soon (though you can never rule out a single auction getting there). I think the "all is well" crowd is going to have to concede this battle: Large spike in the Census + Existence of a 9.8 graded copy + Loss of momentum + Tapped out collectors = Meaningful price correction.

 

I will agree that everything other than the "tapped out collectors" might have some validity. But as for collectors being tapped out, you don't know that. As for the existence of a 9.8 copy, on the other hand, I will agree that it knocks the "stupid money" out of contention for the 9.6 books.

[FlyingDonut]

. X-Men 94 is no longer a "hot speculator property" and I can't see prices rising to new record levels.

 

Not in 9.6. The silly money might still be there in 9.8, but definitely not in 9.6. I think that is happening across the board.

[delekkerste]

I will agree that everything other than the "tapped out collectors" might have some validity. But as for collectors being tapped out, you don't know that.

 

Obviously there is some deduction going on here on my part, but I don't think it's unreasonable to believe after the spending orgy of the past 9 months that collectors may be feeling a bit stretched right now and some recent soft sales like this one only add fuel to that fire. I can tell you that I have seen some clear signs of softness in the original art market of late and I know from talking with some fellow collectors and reading some of the comments on the Comicart-L list that crimped budgets are definitely part of the problem. I don't think it's a stretch to believe that the slabbed comic market may also be starting to experience this.

 

I also don't believe that the typical collector handles his money better than the typical consumer (if anything, probably the converse is true), so it doesn't give me a lot of hope that loads of money will continue to pour into the market to prop up prices when I read stuff like this:

 

"Overburdened consumer: According to bond fund manager Bill Gross as interviewed for CNN Money, consumer spending accounts for two-thirds of gross domestic product, and we, the people, are already in too much debt. Interest rate increases could slow consumer spending, which could lead to further job loss. The nation and the world could also be overreliant on consumer spending to lead the nation's economic recovery because terrorism, inflation, and higher interest rates may sideline corporations from giving pay raises, adding jobs or spending to expand infrastructure, according to a recent Duke University study of over 200 CFOs.

 

Debt service: According to CBS Marketwatch chief economist Dr. Irwin Kellner in February 2004, consumer debt has reached a record $9,185 billion, or 110 percent of "people's take-home pay adjusted for inflation, also a record. "Ten years ago, household debt equaled 85 percent of disposable personal incomes; twenty years ago it was 65 percent." The reason debt service is so much higher now is floating interest rates, rates that can change, and make it much more difficult for households to service existing debt. As an example, he notes that the "Mortgage Bankers Association reports that the share of new mortgage applications to be financed by adjustable rate, or ARM, jumped from 13.5 percent in January 2003, to over 30 percent by yearend. Currently 40 percent of consumer debt is based on floating rates. What will happen when those favorable rates go away?"

[FFB]

I will agree that everything other than the "tapped out collectors" might have some validity. But as for collectors being tapped out, you don't know that.

 

Obviously there is some deduction going on here on my part, but I don't think it's unreasonable to believe after the spending orgy of the past 9 months that collectors may be feeling a bit stretched right now and some recent soft sales like this one only add fuel to that fire. I can tell you that I have seen some clear signs of softness in the original art market of late and I know from talking with some fellow collectors and reading some of the comments on the Comicart-L list that crimped budgets are definitely part of the problem. I don't think it's a stretch to believe that the slabbed comic market may also be starting to experience this.

 

I also don't believe that the typical collector handles his money better than the typical consumer (if anything, probably the converse is true), so it doesn't give me a lot of hope that loads of money will continue to pour into the market to prop up prices when I read stuff like this:

 

"Overburdened consumer: According to bond fund manager Bill Gross as interviewed for CNN Money, consumer spending accounts for two-thirds of gross domestic product, and we, the people, are already in too much debt. Interest rate increases could slow consumer spending, which could lead to further job loss. The nation and the world could also be overreliant on consumer spending to lead the nation's economic recovery because terrorism, inflation, and higher interest rates may sideline corporations from giving pay raises, adding jobs or spending to expand infrastructure, according to a recent Duke University study of over 200 CFOs.

 

Debt service: According to CBS Marketwatch chief economist Dr. Irwin Kellner in February 2004, consumer debt has reached a record $9,185 billion, or 110 percent of "people's take-home pay adjusted for inflation, also a record. "Ten years ago, household debt equaled 85 percent of disposable personal incomes; twenty years ago it was 65 percent." The reason debt service is so much higher now is floating interest rates, rates that can change, and make it much more difficult for households to service existing debt. As an example, he notes that the "Mortgage Bankers Association reports that the share of new mortgage applications to be financed by adjustable rate, or ARM, jumped from 13.5 percent in January 2003, to over 30 percent by yearend. Currently 40 percent of consumer debt is based on floating rates. What will happen when those favorable rates go away?"

 

Can't argue with those statistics, but rates are still favorable -- what you are describing here is something that may happen in the future when rates rise, not something that is necessarily happening now.

 

Having said that, it very well may be that you're right about collectors being tapped out. I know that I have slowed down my purchases recently after some acquisitions to avoid blowing the budget. But I don't collect X-Men #94 and I can't say that my personal financial situation is similar to that of anyone who does.

[sfilosa]

While a book like this (which is not scarce in high-grade), probably should be selling for less as more copies become slabbed, we are seeing record price after record price on the truly scarce Silver-Age high-grade books. As a mater of fact 9.0 and 9.2 are closing the spread on 9.4's (which is something I predicted would happen months ago).

 

 

AND that is how it SHOULD BE!!!

[tth2]

While a book like this (which is not scarce in high-grade), probably should be selling for less as more copies become slabbed, we are seeing record price after record price on the truly scarce Silver-Age high-grade books. As a mater of fact 9.0 and 9.2 are closing the spread on 9.4's (which is something I predicted would happen months ago).

 

 

AND that is how it SHOULD BE!!!

 

No, there SHOULD be a big spread between 9.4s and 9.2s. Because what do we do with 9.2s, kids? That`s right, we spit on them!

[FFB]

While a book like this (which is not scarce in high-grade), probably should be selling for less as more copies become slabbed, we are seeing record price after record price on the truly scarce Silver-Age high-grade books. As a mater of fact 9.0 and 9.2 are closing the spread on 9.4's (which is something I predicted would happen months ago).

 

 

AND that is how it SHOULD BE!!!

 

No, there SHOULD be a big spread between 9.4s and 9.2s. Because what do we do with 9.2s, kids? That`s right, we spit on them!

 

I don't want to wear out this joke, but this is such a perfect setup that I have to use it:

 

[Darthdiesel]

Because what do we do with 9.2s, kids? That`s right, we spit on them!

 

 

No, no... ... we find a way to press 'em until they are 9.4 or higher

[drbanner]

Because what do we do with 9.2s, kids? That`s right, we spit on them!

 

 

No, no... ... we find a way to press 'em until they are 9.4 or higher

 

Exactly!

 

I mean, every time one comes up we're told it's just another squashed 9.2!

[joe_collector]

No, no... ... we find a way to press 'em until they are 9.4 or higher

 

Every CGC 9.2 is just a 9.4 waiting for a hug.

[deathlok]

While a book like this (which is not scarce in high-grade), probably should be selling for less as more copies become slabbed, we are seeing record price after record price on the truly scarce Silver-Age high-grade books. As a mater of fact 9.0 and 9.2 are closing the spread on 9.4's (which is something I predicted would happen months ago).

 

 

AND that is how it SHOULD BE!!!

 

No, there SHOULD be a big spread between 9.4s and 9.2s. Because what do we do with 9.2s, kids? That`s right, we spit on them!

 

I don't want to wear out this joke, but this is such a perfect setup that I have to use it:

 

[divad]

He ALWAYS has nice books. Where does he get this stuff??

 

I know he trolls eBay - he's bought from the tomato boxes!

[davidking623]

a beauty!

 

xmen #94

 

That is a pretty much a 9.4 book in that 9.6 case! I am surprised a little bit what if that corner wasnt damaged would 9.6 still be a worthy grade for the book?

 

Davidking623

[joe_collector]

That is a pretty much a 9.4 book in that 9.6 case! I am surprised a little bit what if that corner wasnt damaged would 9.6 still be a worthy grade for the book?

 

Hey, whatever you need to tell yourself to sleep at night.

 

 

[drbanner]

No, no... ... we find a way to press 'em until they are 9.4 or higher

 

Every CGC 9.2 is just a 9.4 waiting for a hug.

 

I guess that's why GPA shows a new record was set for this book in 9.2 this month!!

[davidking623]

That is a pretty much a 9.4 book in that 9.6 case! I am surprised a little bit what if that corner wasnt damaged would 9.6 still be a worthy grade for the book?

Hey, whatever you need to tell yourself to sleep at night.

Ridin the storm out! Courtesy of the Beyonder! Oh JC sang by what Band?

 

 

[grider67]

REO Speedwagon.