Mile High Chuck's place in the hobby

[dupont2005]

He had competitive pricing, before the internet, when pricing on everything was ridiculous and every single back issue sold for a premium.

 

A story I've told a couple times was about the Elfquest #1 I dreamed of one day owning, but knew I never would. Because my selection was limited to what was in the few comic shops I visited. None of them had magazine sized back issues. Through either Wizard or some other source I figured that Elfquest #1 was a $20 comic, but I would be lucky to even get the chance to buy something so old and rare.

 

Then eBay came about, and when I checked eBay for a copy of Elfquest #1 in 2008, I was hoping it would still be only $20, but I was determined to own one even if I had to pay $200. To my surprise, I bought the entire run for $20. Then another copy of #1 in a small lot for around $6 I believe. I then realized all the comics online were far cheaper than in any comic shop, and far cheaper than any guide price. To this day not much has changed, besides the odd hot issue (that tends to cool down quickly). But if a comic shop had a competitive price in this era, I'm not terribly impressed. They literally wrote the price guide. They had the absolute monopoly on back issue sales in many a town and city where there wasn't an organized local group of collectors trading at small club meetings and conventions. They charged whatever they wanted, and in my experience never sold a comic for below cover price unless it was damaged. Things have changed significantly, and many comics retailers have changed with it. Not Chuck though, he's sticking to it.

 

Without getting too political, Sarah Palin is a paid speaker at plenty of events as well.

[Sqeggs]

He found a valuable comic collection. The proceeds floated him for a while but looks like that's coming to an end. Since he made multiple millions of dollars off one deal he's never had to have competitive prices, a website from this millennium, or reasonable overhead. He just had to write big fat checks for dealers inventory then up the price a thousand percent and watch people who didn't know any better buy it all.

 

Your chronology is way off. He found the Church collection in 1977. He flipped a lot of the books right away and sold the bulk of the rest in the following few years. The money helped him expand his business, but most of the proceeds from selling the Church books was gone long ago.

 

He never made multiple millions from the Church books. I would be surprised if he netted half a million. He's remained in business in the years since because -- like him or not -- he found a viable business model for selling comics and because he was able to get into distribution and other ancillary stuff.

[dupont2005]

He found a valuable comic collection. The proceeds floated him for a while but looks like that's coming to an end. Since he made multiple millions of dollars off one deal he's never had to have competitive prices, a website from this millennium, or reasonable overhead. He just had to write big fat checks for dealers inventory then up the price a thousand percent and watch people who didn't know any better buy it all.

 

Your chronology is way off. He found the Church collection in 1977. He flipped a lot of the books right away and sold the bulk of the rest in the following few years. The money helped him expand his business, but most of the proceeds from selling the Church books was gone long ago.

 

He never made multiple millions from the Church books. I would be surprised if he netted half a million. He's remained in business in the years since because -- like him or not -- he found a viable business model for selling comics and because he was able to get into distribution and other ancillary stuff.

Half a million bucks to spend on comics before the back issue market really hit. I still think the MH1 and MH2 finds are what made him successful by giving him the capital at the right time. Sure he's turned a profit on overpriced drek over the decades, but would he have ever had the buying power to acquire that drek at pennies on the dollar in the first place? I think his business model includes a lot of unnecessary overhead, and a lot of missed sales. I don't think that business model would have spelled success if not for a huge boost in capital early on. And if he found MH1 when he was in his early 20's I'm assuming it was fairly early on.

[RCheli]

There are a lot of businessmen who have had one or two big scores and still go on to go bankrupt. That Chuck had a significant buy nearly 40 years ago and is still in business says a whole lot about his ability to persevere.

 

He's one of a handful of very important comic dealers ever. Again, I don't think most people here are buying stuff from him, but he's survived and thrived when the vast majority of other large dealers have not.

[dupont2005]

There are a lot of businessmen who have had one or two big scores and still go on to go bankrupt.

Yeah, I wouldn't call any of them masterminds of their trade either. Chuck's not the only poor businessman to have a bit of luck, I'll give him that.

[dupont2005]

Just found the documentary on Hulu, I'll be watching it tonight.

[RCheli]

There are a lot of businessmen who have had one or two big scores and still go on to go bankrupt.

Yeah, I wouldn't call any of them masterminds of their trade either. Chuck's not the only poor businessman to have a bit of luck, I'll give him that.

 

You seem to have it out for this guy. Did he kick your dog or something?

[dupont2005]

There are a lot of businessmen who have had one or two big scores and still go on to go bankrupt.

Yeah, I wouldn't call any of them masterminds of their trade either. Chuck's not the only poor businessman to have a bit of luck, I'll give him that.

 

You seem to have it out for this guy. Did he kick your dog or something?

I don't have it out for him. I just don't think he's a genius businessman. I think he'd have competitive prices and a modern website if he were serious about staying in business. I don't think we'd all know what his nipples look like if he were business savvy.

 

I also think if he's losing money and other retailers are making money, those other retailers are better at business than him. And those guys didn't even find a Milehigh collection.

[shadroch]

I believe he owned five shops and a separate comic distribution company at the time he bought Mile High 2. At the time, he was quite possibly the largest dealer in the world.

Yes, he lucked into the Church collection and overnite went from being a small fry dealer into the inner circle of BSDs. That was thirty seven years ago and he is still going strong.

Go look in a 1984 Overstreet and see the attrition rate this hobby has. Where is Moondog? Where are the guys from Super Hero World? Pacfic? Seagate? Capital City? Theo? Robert Bell? Gary Ross? Million Comics? New England Comics? Fantazia? Sal Q?

The Levines? Howard whateverhisname? The real Sparkle City?

Look at the financial nightmare Steve Geppi is caught up in.

[dupont2005]

Define "Going strong," because it sounds like he's struggling to keep his doors open.

[RCheli]

The difference between Chuck and most other business owners is that he is very open -- probably too open -- about when times are not going well. It seems that he's on more solid footing now more than any time since the recession hit in '08.

[mmastran]

Just found the documentary on Hulu, I'll be watching it tonight.

 

What is the name of the documentary?

[topofthetotem]

Just found the documentary on Hulu, I'll be watching it tonight.

 

What is the name of the documentary?

Comic-Con Episode IV: A Fan's Hope

[rp12367]

I was in Denver back in October and stopped in at the store. The staff was friendly and the wall of books when you walk in is impressive. But other then that I was disappointed prices were crazy high and grades were way off ( VF's that were VG's on a good day). Can't comment about Chuck as he wasn't in that day.

 

 

 

Checkout the prices on The Walking Dead's. I asked the kid who was working if they sell alot of WD books and he said, " All day ,every day"

 

[Tom473]

Those WD prices are ridiculous, or I'm sitting on a goldmine. I had a little sympathy when I read his article, but with prices like that, it is no wonder customers pass him by. Mile High almost makes CPG look like a reputable pricing site (almost).

[makeminemego]

The grading/pricing structure is what has always amazed me.

 

Call a 4.0 an 8.0.

 

Price it at 2-3x the 8.0 FMV.

 

I just have no idea how he has pulled it off over the years. I guess some people buy from him....who knows.....

[dupont2005]

I would be really surprised if people are buying big books off him. The $60 Walking Dead comics seem possible, bought by non collectors as gifts, thinking they're paying the going rate.

 

I would think most people spending $500 and up on a comic would do at least minimal research, look in a guide, check eBay, or at the very least not buy the first one they see. But who knows.

 

I think his bread and butter is dime bin comics being sold for $3 a pop to readers. You're overpaying by 3000%, but also it's just a couple bucks. I'm sure there's plenty of people out there not willing to put in the legwork to hunt down the best deal on a full run that can be had through Milehigh for $75, even if it's going for $20 on eBay.

 

And the occasional legit sale, where it is worth buying that last issue you need to finish off a run, for fifteen or twenty different runs, and you make up the high cost with free shipping instead of buying from fifteen different sources on eBay.

[oakman29]

Those are insane prices.

[ttfitz]

I've read his history, and his life has been amazing.

Just amazing.

 

 

Yeah, I've enjoyed his "tales" as it's one person's insight into comic collecting history, and from someone who has been very involved with it. It's idiosyncratic, which is fine. He's not striving for impartiality from what I see. It's him providing his take on things.

 

Like others, though, I've gone to the website, found something on my want list, and suffered enough sticker shock to keep looking elsewhere. I wonder if he's painting himself into a corner. If he re-priced everything to what's commonly understood to be market value and at the same time released all his back stock, maybe he really would flood the market. Does anyone here have an idea, because I don't, of what his back stock is like? I get the impression that he must have mountains of books that probably aren't even available at any given time.

 

 

According to a newsletter earlier this month, "What makes this all a little unusual is that we really do not need to pick up any more collections right now. As a direct result of my numerous buying trips of the past few years, we currently have over one million (!) unsorted back issue comics already in storage in the back of our Jason St. Mega-Store. If my post-San Diego Comic-Con operational plans come to fruition, however, we will be sorting and grading most of those comics for you by the end of this year. That may seem an unrealistic goal, but when you realize that we have already sorted over 500,000 comics this year, it seems somewhat more achievable."

 

 

[Shadow Images]

Hey if you can buy up everything then you can charge what you want