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Putting yourself in debt over art has it's advantages. - Last Update

Started by Phill the Governor,

23 posts in this topic

Phill the Governor

Phill the Governor

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Posted

Hi all,

 

I just wanted to share my experiences here on a separate note from the "This week in your original art collection" thread.

 

For the last year and a half I've put myself in debt over comic art. I myself couldn't justify doing it, yet it kept happening. What started with one piece on layaway with one collector turned into two, and then three very quickly. Then, when I seemed to be out of the clear, another piece fell in my lap and I again bit my tongue and reluctantly put it on hold to make time payments.

 

Well, with the last one in the mail on it's way to me now, I feel great having accomplished paying off the debt on four separate pieces from four different people, that I probably shouldn't own at all given my financial situation. Regardless, I was always told that persistence pays off and that if you truly want something bad enough you can get it. I still enjoyed myself over the last year and a half, but had to restrict some activity in order to pay for the art.

 

In the end, I don't regret it at all. All 4 pieces were personal grails to me. They fit into my collection perfectly and I couldn't be happier. Here are the first two pages. I'll post the third when I receive it next week, followed by the fourth and last page which is the :cloud9: of the group. I'm still in awe of the fact that I own it.

 

This page was purchased by another collector, with the intent to sell it to me. I think that's pretty cool. I otherwise would not have been able to own it. I met up with him every few months to give a payment and we'd get food/drinks and socialize. Pretty cool experience over all.

 

The death of the Governor.

 

governordeath_zpsbf0f149d.jpg

 

CAF link HERE

 

 

 

 

What can I say about this page. I have a more detailed explanation on the CAF page, but here I'll let the art speak for itself.

 

Zombie spread from TWD #28

 

Issue28pg16amp17_zpsc94eedaa.jpg

 

CAF link HERE.

 

 

To be continued next week,

- thanks for looking

P

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AKA Rick

AKA Rick

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Solid pieces, very much worth the wait.

 

It sounds like to use a stock market analogy, you bought on margin, and happened to pick some winners.

 

I'd never every advocate, especially for comic art, which are non-essential purchases, anyone going into debt beyond their comfort level. I always find it odd when people spend a lot on art and always claim to be broke, not covering things like their child support, rent car payments, etc. or investing so much in art, but neglecting (but it's about preference and prioritization) eating well, getting new clothes, renting instead of buying a home, driving a broken down car, etc. yet having tens if not hundreds of thousands tied up in art.

 

I'm a believer in the "buy what you can afford" - - if it costs $3,000 and you don't have $3,000, that means you can't afford it, so move on. I know there's a lot of people who feel otherwise and love the payment plans and using credit cards. It's just a comfort zone I can't associate with when it comes to purchasing non-essentials like art.

 

Anything could happen with layaway terms. The seller could end up defaulting (become deceased during the transaction or not be honorable). The buyer could end up needing the money for life essential expenses. The market could crash (especially on hot flavor of the month items that cool down), which is the lesser of the concerns if it's a purchase of passion for a collection and you don't mind potentially over paying.

 

So, if dealing in layaway, buyers should get the terms in writing and receipts for payments. There should be a safety net for default, so if as a buyer you offered $5,000 and are making payments but mid-way you change your mind, are the terms "all payments are non-refundable with the transaction terminated and the seller keeps all collected monies and the art?" or is there a penalty of an 85% return on payments made to void the transaction, which can be important to a seller of a hot property that ends up cooling off in the market.

 

It's a business transaction I'd recommend keeping a very detailed paper trail on and not juggling too many deals, where a sellers patience is tested if things go beyond the agreed upon terms.

 

 

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Phill the Governor

Phill the Governor

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Thanks everyone!

 

I'd never every advocate, especially for comic art, which are non-essential purchases, anyone going into debt beyond their comfort level.

 

On this I would completely agree.

 

I'm a believer in the "buy what you can afford" - - if it costs $3,000 and you don't have $3,000, that means you can't afford it, so move on.

 

Given my circumstances I was still able to enjoy my self and make payments on the art. It was certainly a burden to an extent, but I really wanted them. I did a reasonable longterm money assessment before agreeing to each purchase. It also didn't hurt to have other art I could sell (if necessary) to pay for the art I had on layaway. But I really didn't want to have to resort to this.

 

Anything could happen with layaway terms. The seller could end up defaulting (become deceased during the transaction or not be honorable).

 

This is one of the things I want to stress. Trust (and common sense) can go a long way. I once bought a piece from Italy, paid with paypal personal (stupid, I know), but still, I trusted them. I got the piece a few weeks later.

 

 

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batman_fan

batman_fan

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I think it is fine to do big purchases on time payments. It is a way to buy a more expensive piece without having to come up with all the funds at the same time. The first expensive piece I bought I did with time payments. I went that route because I didn't want to tap into savings or sell stock at the time and the time payments were done interest free.

 

The pages you snagged are classic so kick back and enjoy, but sadly now you have to save up for the framing !

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tth2

tth2

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For the last year and a half I've put myself in debt over comic art. I myself couldn't justify doing it, yet it kept happening. What started with one piece on layaway with one collector turned into two, and then three very quickly. Then, when I seemed to be out of the clear, another piece fell in my lap and I again bit my tongue and reluctantly put it on hold to make time payments.

 

Well, with the last one in the mail on it's way to me now, I feel great having accomplished paying off the debt on four separate pieces from four different people, that I probably shouldn't own at all given my financial situation. Regardless, I was always told that persistence pays off and that if you truly want something bad enough you can get it. I still enjoyed myself over the last year and a half, but had to restrict some activity in order to pay for the art.

 

In the end, I don't regret it at all.

Don`t let the Financially Correct police browbeat you into thinking that all debt is bad. There`s nothing wrong with debt per se. The problem is debt that has exceeded your ability to repay.

 

I don`t even count time payments as "debt". To me, that`s just paying for something out of monthly cashflow rather than paying up front from savings. In effect, you`re getting the seller to provide you what is hopefully interest-free financing. I buy stuff on time payments all the time, even though I could afford to pay the entire amount up front, because if the seller is willing to give me an interest free loan, why would I say no? I have no problem waiting several months to receive the item I`m buying.

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Phill the Governor

Phill the Governor

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At this point many WD collectors know that I'm trying to complete issue 48. I have been told that this knowledge could be beneficial, or detrimental, to my cause - It all depends on the person. Well, I can say so far that it's been extremely helpful.

 

I'm really excited to have finally gotten this page. I now have 7 consecutive pages from the ending of the issue! And the reason that I was able to afford it - in short - was because of another collectors extreme kindness. I'm still amazed how righteous some people can be. You know who you are (thumbs u

 

 

Rick and Carl escaping the prison, where Rick states the infamous "Don't look back, Carl" line.

 

Issue48pg20copy_zps847ad03c.jpg

 

CAF link HERE

 

 

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Mark 1

Mark 1

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Amazing pages that i'm proud to even say I know who owns them. :)

 

Congrats and know that when the time comes, you will most likely have a win fall on the prices those pages will go for in the future.

 

 

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